When putting together your deal involving SBA financing, the bank you choose can make a world of difference. Here, Sara describes some of the advice she gives clients to help get them swiftly to Closing
When putting together your deal, knowing whether you’ll need to navigate SBA requirements is essential upfront. Here, Sara describes some of the terms the bank will never approve and ways to get in front of those issues quickly and efficiently
As soon as you sign the Letter of intent, you should start working on your third parties. This includes landlords, banks, key employees, and other interested parties
It’s the season for accounting practice buying! Don’t miss out on the window of availability for these deals. Sara explains why these are so cyclical and calendar-based.
The second most important term in an accounting practice buyout is your retention adjustment. You’ll want to discuss the gross revenue amount (guaranteed amount) and the manner in which you’re reducing the purchase price (dollar for dollar) under that amount. The term of this is 1-2 years and a buyer should consider whether new clients are considered as a part of the guaranteed amount.
Music - Glitter Blast - Kevin MacLeod
The purchase price is arguably the most important term in your LOI, a buyer should consider the amount that is cash on closing versus financed, showing you work as to how you arrived at the purchase price, and laying out the detailed high level terms of any Note a buyer is proposing.
Music - Glitter Blast - Kevin MacLeod
What is a letter of intent? What terms are always in one? Are they binding or enforceable?
Music - Glitter Blast - Kevin MacLeod
Hi, I'm Sara Sharp, an M&A specialist for accounting practices. In this video, I discuss the importance of LOIs (Letters of Intent) in the buying and selling process. Although I'm not included in the LOI phase, I believe it's the most crucial part of the purchase process and believe buyers and sellers of accounting practices deserve advice at this stage.
Music - Glitter Blast - Kevin MacLeod