2 | Prequalifying Before You Search
The best time to get prequalified isn’t after you find the perfect business — it’s before. A prequalification letter transforms you from “interested” to “credible.” Brokers and sellers take your offer more seriously when financing is already in place. It also saves you time by focusing your search on deals you can confidently pursue. Lenders evaluate your liquidity, credit, resume, and industry fit. Prequal doesn’t commit you — but it shows you’re serious and capable. Be discreet. Use a personal email for deal communication, schedule calls outside of work hours, and review any non-compete or employment restrictions that may apply to your target industry. Executive Spotlight VP Operations → PT Practice Buyer Secured a 48-hour prequal from T Bank and beat out a higher cash offer. Seller chose her for speed, credibility, and lender support. Action Checklist Complete SBA Form 413 (Personal Financial Statement) Provide 2 years of personal tax returns and W-2s Pull your credit report and address any issues Provide 60-day liquidity statements (checking, savings, brokerage) Request a prequalification letter based on your personal and financial profile A strong lender can typically issue prequal in 48 hours — no formal application required. Quick Summary Prequal positions you as the most credible buyer in the room — and gets you closer to the deal.
T Bank Insight Our 48-hour prequal includes a review of your personal financial statement, tax returns, and resume. We’ll confirm eligibility, estimate your budget, and arm you with a strong letter you can include with your offers.
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For informational purposes only. Not legal, tax, or financial advice.
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