Bruce Marks, MBA, CM&AA retweetledi
@sbabmarks ‘How much tax fraud is too much tax fraud?’ Is a question all serious searchers must ask themselves 🤣
Appreciate all the war stories this week, Bruce
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Bruce Marks, MBA, CM&AA
7K posts
Bruce Marks, MBA, CM&AA
@sbabmarks
SMB & ETA Acquisition Lender | Author | Closed $550 Million in 10 yrs| SBA loans from $2.5 - $10.0 million | tweeting real SBA stories | War Story Saturday 🪖
Katılım Nisan 2022
302 Takip Edilen37.9K Takipçiler
Bruce Marks, MBA, CM&AA retweetledi
@Sam_Rosati @mbeckham352 @JermanMichael @drew_eckman @SMB_Attorney @sbabmarks Keeping the machine running
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Bruce Marks, MBA, CM&AA retweetledi
@sbabmarks I see this all the time as well. Or I get told "Here are our tax returns but we don't show everything on them..." which is an automatic deal killer for me. If you're willing to lie to the IRS then you're willing to lie to me.
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@SAOliver_Atty @sbabmarks But what if the buyer is a Wyoming LLC and we handle it all via side letter?
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Bruce Marks, MBA, CM&AA retweetledi
Yeah… The SBA is a federal agency of the United States government.
Being dishonest with the feds is…
Well…
Not recommended.
This is legal advice.
Bruce Marks, MBA, CM&AA@sbabmarks
Yesterday, I shared live with about 32 Searchers this: Off the books cash (yes, I saw this on a Broker’s CIM) is NOT an addback! Remember, the SBA, is the sister of the IRS Unreal😳
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Bruce Marks, MBA, CM&AA retweetledi
Bonkers how often I see buyers willing to let sellers add $1m of cashflow to the P&L as “off the books” cash.
Please, believe the seller when they’re telling you they’re comfortable committing fraud.
Bruce Marks, MBA, CM&AA@sbabmarks
Yesterday, I shared live with about 32 Searchers this: Off the books cash (yes, I saw this on a Broker’s CIM) is NOT an addback! Remember, the SBA, is the sister of the IRS Unreal😳
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Yesterday, I shared live with about 32 Searchers this:
Off the books cash (yes, I saw this on a Broker’s CIM) is NOT an addback!
Remember, the SBA, is the sister of the IRS
Unreal😳
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Well put and spot on. Lenders want you to have skin in the game for sure! At least this Lender 😉
Matthias Smith, CEO - Pioneer Capital Advisory LLC@SBA_Matthias
In 2026, equity from a sponsor is a must to close on a business acquisition Simply put, lenders want to see “skin in the game” or chips on the table Even if you have an investor group that you’re partnering with, a PG is not the same as cash dollars with how lenders look at deals
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@SBA_Matthias Absolutely! Lenders want skin in the game
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In 2026, equity from a sponsor is a must to close on a business acquisition
Simply put, lenders want to see “skin in the game” or chips on the table
Even if you have an investor group that you’re partnering with, a PG is not the same as cash dollars with how lenders look at deals
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@Sethhell2 A Pari Passu conventional loan is used when there is a gap between purchase price and the $5 million SBA cap where more leverage is needed
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I did work this morning. I’m submitting on Monday a large Pari Passu Loan.
That will make three in the last 2 weeks!
Like I said a week back, deal flow is very strong. All Pari Passu deals must meet a minimum DSCR of 1.50X after tax.
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That is our requirements, not the SBA, nor other lenders. Like I always state, each lender looks at deals differently.
This post is being made to encourage those to keep looking, keep persevering. Good deals can be structured and get done!
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We closed a nice acquisition transaction for a veteran today!
Also, got a green light on another one.
I must say, I relish in the fact of being impactful to those next generation of business owners.
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The buyer called a week before close.
“We’ve got a problem.”
Everything looked clean.
Strong revenue.
Steady margins.
No obvious red flags.
Then diligence turned up a $250K working capital deficit.
The business was profitable.
But it couldn’t fund payroll on Day 1.
Vendors were already behind.
The lender started asking questions.
The deal didn’t almost break because of EBITDA.
It almost broke because of liquidity.
Working capital isn’t a detail.
It’s the fuel.
If you don’t define it early, you’re the one funding the gap.
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Thank you for those very kind sentiments @mdbergman36 I so appreciate you
Matt Bergman@mdbergman36
@sbabmarks is the absolute GOAT in this space - and an even nicer person. #SMB #SMB #BIZ
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I must say, I’m tired or reading all this stuff about “Why deals fall apart”
If you have a willing Seller and a willing Buyer, then let’s structure a deal that works instead of “falling apart”
This is how deals get done! And the reason why I’m closing many transactions
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I’m closing another loan this week. I did the site visit last week. This is me, in front of the Ike or as the naval folks referred to it, a floating airport. Also got to tour an active submarine and touched a torpedo. Some benefits to my job!
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Bruce Marks, MBA, CM&AA retweetledi
Bruce Marks, MBA, CM&AA retweetledi
