Funding
No list of pitfalls would be complete without mentioning how many issues the attempt for the Buyer to secure funding can cause. The commercial lenders can be very tedious in their requests, demand audits, take illogical positions…and then disappear for long periods. Unfortunately, commercial lending is necessary for most business sale transactions so working through this is necessary. Our advice is for the Buyer to engage a specialist lending agent to assist in this process and stress test the lending as early as possible to make sure the transaction is viable.
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