Congratulations Larry on creating an excellent blog. You knowledge is one that needs to be shared in our business community.
Selecting and Hiring the right team is crucial not only to the selling of the business but also for the financing of the business. If the right team is not in place it will make it very difficult for a business to be sold with financing in place. Prequalifying your business should be part of the business process while getting your business prepared to be marketed by the business broker.
As a Commercial Loan Broker specializing in Business Loans, the prequalification is extremely important because it relates to how much a business can be sold for. I cannot recommend enough that you have a financial broker working with you once the listing is secured.
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2 comments:
Great point Harlan. I absolutely should have included a financial broker as part of the selling team. As a business intermediary I am so used to recommending Lightning Commercial Funding to all of my buyers, I forget that not all brokers will recommend a top notch financing expert. Having all of the pieces for a business sale in place and then losing a deal because funding can not be obtained is a waste of time, money and energy by a lot of people. Don't forget to add to your team a financing pro.
Larry Make this a post not a comment for all to see.
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