Charlie McCarthy 🇺🇸

🇺🇸Announcing Veteran ETA Roundtable🇺🇸 I'm launching the "Veteran ETA Roundtable" to create a platform for military veterans interested in ETA to learn about business acquisition, share experiences, and support each other. This program, recurring every three weeks on Zoom, starts November 8th, 7:30-8:30 PM EST. Each session will feature a 20-30-minute subject matter expert-led presentation on a different stage of business acquisition followed by a Q&A session. Interested in attending? The sign-up link is in my bio, or drop me your email, and I'll send you the invite with the recurring Zoom link. The signup page also provides the topics for the upcoming session. Please share with any veterans you think might be interested. Appreciate the feedback and support on this from @markbdelaney @Eli_Albrecht @PhillySMB Can't wait to connect with and learn from other vets in this space.

@Laura_W_Gieseke Congratulations to you both!

Does anyone have experience in the trucking and transport industry and would be open to connecting? I have a contact—a Navy EOD veteran and former COO of a small trucking company—who’s launching his own business and looking to connect with others in the field.

@Eli_Albrecht Haha good point. I was getting push on my initial answer that said “depends on the circumstances of spouses employment” so wanted to make sure I wasn’t missing something obvious.

In the IDF we had something called a "Kidback Question" (kidback = dufflebag) because when in training the officer would tell us to run across the base and back, there was always that one guy who would raise his hand and say, "should we run with our duffle bags?" Thank you for your attention to this matter.

SBA 7(A) Question– Seller’s Spouse Post-Sale Employment In a complete change of ownership, can the seller’s spouse (a current employee) stay on post-sale? SOP limits the seller to a 12-month consultant role, but I can’t find guidance on spouses. Is this addressed in the SOP or left to lender discretion? Thanks for any help! @SBA_Matthias @SAOliver_Atty @lawyer4SMBs @Eli_Albrecht @SMB_Attorney

@SAOliver_Atty Makes perfect sense! Thanks so much!

There’s nothing in the SOP that explicitly prohibits a non-owner spouse of the seller from remaining an employee of the business after a complete change of ownership. That said, I’d want to ensure the arrangement isn’t being used to circumvent the seller’s post-sale restrictions. As long as the spouse is not an owner, not acting as a proxy for the seller, and remains in a legitimate employee role, it wouldn’t appear to raise eligibility issues. Given the gray area, this falls within lender discretion.

🇺🇸Veteran ETA Roundtable 🇺🇸 Wednesday, May 28 (730pm-815pm EST) Join us for the 21st Veteran ETA Roundtable Session, featuring Goran Pavlovski, who will provide an overview of the newly released SBA SOP 50 10 8. Goran brings extensive experience as both a lender and advisor in SBA transactions and will share key insights and responding to questions on how the updated SOP may impact deal structures in SBA-financed acquisitions. Here's what to expect in each Roundtable session: ✅A focused ∼20-minute presentation on a key aspect of business acquisition. ✅An interactive Q&A segment. ✅ Access to the Veteran ETA Slack Channel for you to connect with other veterans and post questions/resources. ✅No solicitation or cost to join. EVER. This is a veteran community, not a masterclass. Thank you, Goran, for supporting veterans and helping them succeed in entrepreneurship through buying a business! Interested in attending? The sign-up link is available on our website (link in comments, or you can DM me your email, and I'll send you the invite with the recurring Google Meet link. Please share with any veterans you think might be interested. All knowledge levels and elements of the SMB veteran ecosystem are welcome to attend.

People often assume lawyers are cutthroat, but I want to give a heartfelt (and belated) thank you to @Eli_Albrecht, @lawyer4SMBs, and @SAOliver_Atty for helping an associate from outside their firm. During a hectic time in my career, they each jumped on a call with me—without hesitation—and took time to provide educational guidance on SBA deal structuring purely as a professional courtesy. I’m incredibly grateful for their generosity and professionalism. I’ll always remember it and will pay it forward!

@Whitney_Sheph So sorry for your loss. Praying for you and your family

@SBA_Matthias Great thread from two top notch individuals in the space!

Are there any ETA equity funds specifically dedicated to veteran business buyers that I can send folks to that need gap equity for deals?

@bradford_hardin @Gil_Topaz Great insights! Thanks for taking the time to create this product and sharing. This provides tremendous clarity.

@Gil_Topaz I’ve never shared this publicly before. It is geared somewhat more toward midlevels and large firm environments, but probably helpful. Let me know what you think.

Bringing this question back from 2023, but reframing it for the present. What do partners and senior associates expect from their 2-3 year associates and what’s the main difference from your first year? Tagging OGs and some new ones. Thanks in advance for your time and wisdom and please feel free to tag more people. @adamwasch @SMB_Attorney @CREdebtlawyer @CREdeallawyer @investing_law @Chris_Schuering @bradford_hardin @mindfullyemily @NorinaJd @Lawyer4Deals @Drew_Morris @Notion4Lawyers @Wildlaw406 @KHendersonCo

@Gil_Topaz Thanks man! Always great to see the insights/advice from this thread! Appreciate you!

@VeteranETA roping you in again 🤣

@WeidSix @AdamMarkleySMB Yeah - just DM me your email or sign up for the group in the link in my profile. I should have the recording out to the group and posted on our website (veteraneta.com) by the end of the week

@AdamMarkleySMB @VeteranETA Adam, where can I find the recording?

My standing offer to all searchers… I will happily review your deals for you and help you conceptualize your structure, highlight risks, areas to dig into, etc. I spoke last week at the @VeteranETA virtual meetup and met Rob there. An email, review, and 40-minute call later the deal looked substantially different. Here’s to hoping it works out, but if not, you’re on the right path!

@Gil_Topaz @SMB_Attorney @investing_law Hey man! I have not unfortunately. Wish I could be of more help

Has anyone run into the issue of when SAFEs are dependent on the price per share of the equity financing round, but the equity financing round price per share is also based on fully diluted capitalization including the converted SAFEs? @SMB_Attorney @investing_law @Chris_Schuering @SAOliver_Atty @VeteranETA @brianpslough Please feel free to tag someone else that might be able to answer! Thanks in advance!

Correction: **This Thursday January 2 (730pm-815pm EST) **

🇺🇸Veteran ETA Roundtable 🇺🇸 Wednesday, January 2nd (730pm-815pm EST) Join us for the 20th Veteran ETA Roundtable Session, where @AdamMarkleySMB will share his extensive experience in acquiring and investing in multiple businesses. Adam is a trusted authority with extensive experience to draw from, offering practical insights that only someone who has, on multiple occasions, successfully navigated the complexities of business acquisitions firsthand can provide. He will specifically focus on how to maximize post-acquisition value by making strategic decisions during the pre-acquisition phase. Here's what to expect in each Roundtable session: ✅A focused ∼20-minute presentation on a key aspect of business acquisition. ✅An interactive Q&A segment. ✅Follow up weekly newsletter featuring additional resources to build upon and prepare for future roundtable sessions. ✅No solicitation or cost to join. EVER. This is a veteran community, not a masterclass. Thank you, Adam, for supporting veterans and helping them succeed in entrepreneurship through buying a business! Interested in attending? The sign-up link is available on our website (link in profile, or you can DM me your email, and I'll send you the invite with the recurring Google Meet link. Please share with any veterans you think might be interested. All knowledge levels and elements of the SMB veteran ecosystem are welcome to attend.

@mindfullyemily Would love to see a scatter chart of lawyer's hours on the last few days of the year. I have a suspicion that it there would be a huge cluster on both ends (especially for associates).

@bradford_hardin Congrats that's awesome!

Mission accomplished

Should I run 10 miles tomorrow and hit my goal for the year?

🚨 CTA Update 🚨 FinCEN (the agency enforcing CTA) has now extended certain Beneficial Ownership Information (BOI) reporting deadlines in light of the recent dedicáis by the Firth Circuit to stay the national injunction, reinstating compliance deadlines. Key updates: •Companies formed before 1/1/24: File by 1/13/25 •Companies formed 12/3/24–12/23/24: +21 days from original 90 days deadline •Post-1/1/25 formed: 30 days from date of formation to file.

🚨CTA Breaking News🚨 The 5th Circuit has stayed the injunction against the Corporate Transparency Act (CTA), reinstating the January 1, 2025, BOI reporting deadline for existing companies formed before January 1, 2024. Companies formed in 2024 have 90 days from the date of formation (moving to 30 days starting in 2025) CTA requires most U.S. corporations, LLCs, and similar entities to report their beneficial ownership information (BOI) to FinCEN. It is expected that nearly 90% of the approximately 30 million entities in the US have not filed. It is unclear whether FinCEN will grant a deadline extension amid recent uncertainty and the holiday season. Government at its finest. Happy holidays

@SMB_Attorney Sorry for your loss. Saying goodbye to a beloved dog is so tough, they really are great teachers on the meaning of unconditional love. I truly believe that dogs go to heaven and will be waiting for us on the other side

We said goodbye to our sweet girl, Harlow, last week. She was by my side through it all—marriage, children, and every twist and turn of life from 25 to 36. I know everyone feels this way about their dog, but she truly was the best. Loving, sweet, brave, and nurturing. She was just 10 pounds—mostly fur and an enormous heart. I hadn’t fully processed her loss until I saw this video and it broke me. Dogs are incredible. We don’t deserve them. One of life’s greatest heartbreaks is how fleeting their time with us is. We almost didn’t bring her home—I thought having another dog would be too much. Now, I can’t imagine what that chapter of my life would have been without her. The walks, the games of fetch, the endless puppy kisses—they shaped my days and my heart. It’s devastating to know I’ll never see her again. So if you’re reading this and you’re on the fence about getting a dog—do it. You won’t regret it. Harlow, I’ll miss you forever. Rest easy, sweet girl. You were such a good dog.