Impossible? Prove It.
In July 2023, we received a call regarding a potential business acquisition in casino game machine refurbishment and sales. The buyer possessed minimal liquid assets — approximately 2.5% of the $7,000,000 project cost — limited assets overall, and a poor personal credit score, though he had some managerial experience. Multiple lenders had rejected the opportunity, deeming it impossible.
We worked extensively on negotiations, due diligence, business planning, and financial projections. Within days of contacting preferred lenders, a commitment was secured using new SBA guidelines. The buyer proceeded to signing and deposited closing funds.
By September, the closing process was underway with an anticipated three to four-week timeline. However, the buyer suddenly withdrew via email without explanation, subsequently becoming unresponsive.
The business broker later introduced a second potential buyer with an even weaker profile. This buyer's equity partners wanted management control without providing guarantees — an arrangement that wouldn't satisfy SBA requirements. We advised against this structure.
Instead, the buyer connected with an experienced mentor in his network, offering small equity in exchange for advisory services. This partnership satisfied the lender's committee and resulted in final approval.
The outcome: the buyer transitioned from bringing home a low six-figure salary to owning a business with the built-in potential to clear seven figures — after paying the SBA loan payments.
Everyone said it couldn't be done. We proved it could.
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