Jameson is seeking financing options to purchase an existing business that costs 9.2 million dollars, but the SBA 7A loan is limited to a maximum of 5 million dollars. The business involves manufacturing outdoor patio furniture, and there is no real estate involved, mostly Goodwill. Beau suggests working with two lenders, Banks, that offer both SBA and conventional loans. These lenders can provide a $5 million SBA loan and a $4 million conventional loan for a total of $9 million.

The lending program is designed for strong cash-flowing businesses with good financials, net worth, and borrowing capacity. The sponsors of the deal need to be strong, and the borrowers should have good borrowing characteristics. The program offers a maximum of 85 percent loan to cost for deals exceeding $7.5 million and up to 90 percent for deals under $7.5 million.

Beau emphasizes that the program is not suitable for all businesses and borrowers. It is only geared towards the “cream of the crop” businesses. If the business has strong financials and a good borrowing team, the program can work. Beau offers to discuss financing options for startup businesses, existing businesses, franchises, new office buildings, and business expansions.

Beau provides various financing solutions, including the SBA 7A and 504 loans, and is willing to answer any questions about other types of financing. He also invites viewers to subscribe to his channel for more content about financing.