Business Update

So in the last month we have had more progress! I’ve talked to three different banks. One of them turned me down pretty quickly, another seems to be still thinking about it, and the last one has give formal acceptance of the acquisition. Fortunately the last one is the bank I was hoping to work with most! Now, we still need to convince the Small Business Administration, but my loan officer will be handling most of that. And she’s worked with the SBA enough that she is confident there won’t be any problems.

The other big thing has been writing the formal offer agreement. The broker and I met a few weeks ago and hammered out a draft of it. Since then versions have been flying back and forth between him, me, and my lawyer. We finally finished up with that and it’s done. So today I met with the broker and signed the offer! Now we wait to see if they accept it or make a counter. I’ve given them two weeks to decide. Let’s hope it doesn’t take that long!

2 thoughts on “Business Update

  1. Ann & Don Arney March 15, 2018 / 10:21 pm

    We look forward to the next update !

    Like

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