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When to Involve a Banker in Your Search Fund Process

The question of when to engage with a banker is common amongst small business buyers. Lisa Forrest of Live Oak Bank provided her thoughts in a recent article.

“A typical search fund will screen hundreds of potential deals over the course of the search phase. With so much work to do — and the eventual need for a bank loan on the horizon — the question of when to involve a banker in the search fund process is an important one. With the right approach, this element of the search can be used to help accumulate information from which to make a better final lender choice when your deal has an accepted letter of intent and is ready for the closing process.”

Finding an experienced bank to work with throughout the search fund process can be tricky. At the introductory stage, it may be wise to contact approximately five or six banks, prioritizing lenders with positive referrals from past searchers.”

Read the full article here.

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