Episode 113 – Buying a Business: Tell Your Lender Everything… and we mean EVERYTHING

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In this episode of the Apex Business Advisors podcast, Andy and Doug discuss the critical importance of honesty between lenders and borrowers when securing business loans. They examine a recent transaction failure resulting from undisclosed financial issues, highlighting the need for transparency.

The episode delves into potential pitfalls in filling out SBA loan forms and securing commercial financing, citing real-life scenarios such as bankruptcy cases and undisclosed felonies. They also explore how banks scrutinize loan information and interpret profitability matters.

Additionally, the discussion covers types of businesses ineligible for SBA funding and the risks associated with borrowing before closing. They emphasize the importance of viewing the bank as a business partner and fostering trustworthy relationships.

This episode serves as a valuable resource for anyone seeking to secure a business loan, emphasizing the importance of full financial disclosure.

Episode 112 – Buying a Business: The Dos and Don’ts for a Productive Buyer Seller Meeting

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Andy and Doug share amusing anecdotes from memorable buyer-seller meetings. From unexpected attire choices to mismatched buyers and sellers, they entertain listeners while offering valuable insights into effective communication, preparation, and broker involvement in successful business deals. This episode is a must-listen if you’re in the market to buy or sell a business or simply enjoy lighthearted business stories. Tune in to laugh, learn, and gain new perspectives on the world of business transactions.

Episode 111 – Buying a Business: Navigating Business Acquisition in Changing Times

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In this episode of the Apex Business Advisors Podcast, host Andy Cavanaugh and Doug Hubler chat with Jason Moxness, a seasoned expert on Small Business Association (SBA) loans. They discuss recent changes in the SBA landscape and their impact on business acquisitions, covering updates on loan application processes, criteria, and qualifying factors. The conversation also explores essential advice on loan approval and investment decisions, including rising interest rates and equity requirements for buyers.

New opportunities, such as using SBA funds to buy into a business and reduced down payment requirements, are highlighted, along with provisions for business growth through acquisition. The episode ends with a focus on being a “strong borrower” and seizing new provisions to maximize benefits. This resource is invaluable for those navigating SBA loans for business acquisition or expanding existing ventures.

Episode 110 – Selling a Business: Owner’s Metrics vs. Manager’s Metrics

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Doug and Andy’s schedules did not align for them to record this week, so we’re using the audio from a brief portion of a webinar that Andy was a presenter on a few weeks ago. His part centered around the concept of Owner’s Metrics vs. Manager’s Metrics. We hope you enjoy this special edition of the podcast, and we’ll be back next week with Andy and Doug.

The owners metric is the value of your company and that’s where savvy entrepreneurs obsess. Your friends from school, your peers, even your family probably want you to grow your revenue at all costs, right?  Because that’s the way we judge companies, right? Bigger companies are more important. How many employees do you have? How much revenue do you have? That’s the way we judge each other as entrepreneurs and it’s misguided. People that focus on value know they’re going to get a whole lot more value by putting their head down and focusing on doing one thing for 25 years better than anybody else.

Episode 109 – Selling a Business: The Dangers of Add Backs

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On today’s episode of the Apex Business Advisors Podcast, Andy and Doug are talking about extreme add-backs. These aren’t just any add backs, these are the add backs where a seller has pushed it past the line. They also share the example of tax savings versus lost value at sale.

Interested in learning how the market would view your business today? Take the survey.

Episode 108 – Know Your Broker: Tom Bailey

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Doug and Andy are joined by one of our newest brokers, Tom Bailey. Hear how Tom’s background as an engineer and entrepreneur led him to Apex and what he plans on accomplishing while he is here. Welcome aboard, Tom!

Want a sample of the businesses we’ve sold? Check out the Sold page on our website, then get in touch for a Free Consultation.

Episode 107 – Selling a Business: Exclusive Listing with Chuck Campbell

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Andy and Doug are joined by Chuck Campbell today to discuss a recent deal that Chuck just closed. The deal had a lot of wrinkles that Chuck expertly navigated. You’ll hear about the challenges presented by the Exclusive Listing Process, Buyers that had separate legal representation, dealing with a small town business, and how those were overcome.

Wondering how your business would fair on the market today? Download our latest eBook, The 8 Key Drivers of Company Value, for Free.

Episode 106 – The List

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Andy and Doug discuss the four things that will land a Buyer, Seller, or Team Member on the DNWW (Do Not Work With) List. They discuss deal killers, NDA breakers, liars, and process breakers.

Interested in learning if your business is sell ready? Take the survey to find out.

Episode 105 – Buying a Business: The Dangers of a DIY Offer to Purchase

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On today’s Apex Business Advisors podcast episode, Andy and Doug discuss a recent Offer to Purchase they received. The buyer took the Apex form and made some “adjustments.” The discussions revolve around how the buyer inadvertently waived their right to exclusivity, Apex’s ability to provide financial information to a lender, and the seller’s requirement to pay the commission, among others.

Looking to acquire a business? Check out the Current Listings or get in touch in with a Broker.

Episode 104 – Buying a Business: The Time and Place for “Creative Financing”

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On today’s episode of the Apex Business Advisors podcast, Doug talks about the Apex Awards Banquet, Andy shares a story about a buyer looking for Creative Financing in a hyper-competitive market, and they unveil the latest tools to help Sellers understand the value of their business.

If you want to learn how “Sell Ready” your business is, take the assessment by clicking here.

You may also wonder what you need to do to prepare yourself. Take the “Owner Readiness” assessment to learn more by clicking here.