Creating a Business Acquisition Advantage
THE COVID-19 PANDEMIC:
2021 CRITICAL SBA LENDING UPDATES
A PowerPoint Presentation
by California Business Brokers®:
Dear CBB Community,
Well, we have almost finished the first month of the new year and there is light at the end of the tunnel! I am happy to report that the deal market is stronger than ever. I think this is due to a few different components.
The vaccine!!! The vaccine might be difficult to get but just the fact that there is something out there that controls the severity of COVID makes a lot of people feel like there is hope. Hope that we can and will resume our life and quit hitting the pause button.
Business under pressure! Whenever someone buys a business they always figure in a “worst case scenario” but I don’t think a worldwide pandemic was ever on anyone’s “what if” list. The good news is that it has been tested, so if you are buying a business at this time you do know how well it will fair under the strain of, let’s say.. a global shut down. In some cases, some businesses made record profits, but I am most impressed by the businesses that could have been a disaster story, but they turned it all around.
In one such case a printing business owner started to get very slow in March 2020 until she started advertising she was printing the signs that say, “6 ft apart”. She ended up having a record year due to her ingenuity. Regardless of the business, you will now know how it performed in the worst-case scenario.
Access to capital is the single biggest driver in my industry and there are some unbelievable programs out there. Congress extended the cares act so you can now buy a business with an SBA approved lender and get the best terms we ever seen in our lifetime.
Low rates guarantee fee’s waived, 6 months of payments forgiven and the usual decade to pay it. That is a bargain!
Stay tuned for more updates on what is happening in the CBB Community!
Christina Lazuric Woscoff
C.B.B., C.B.I. Lic. # 01495314
27201 Puerta Real, Suite 300
Mission Viejo CA 92691