Episode description
If you've thought about buying an HVAC business, then you need to catch part two of this three-part series episode of the Trade Talk podcast. Brandon Bolen from Live Oak Bank and Patrick Lange from Business Modification Group are digging into the process of buying an HVAC business and answering the questions you may have if you're looking to buy. Make sure to listen in and don't forget to catch part 1 on selling your HVAC business.
In part 2, you'll learn:
- What is an SBA 7A loan?
- When to get a Conventional loan vs an SBA loan.
- What is the approval process and timeline look like?
- Will the bank look at my personal credit?
- When it comes to private equity - How do you compete with those out there willing to spend more money?
- What FAQs do banks get asked the most?
- Is it more difficult for a family member to purchase a business rather than an outsider?
- How do you go about a group buying purchase?
Connect with Guests:
Patrick Lange, Business Modification Group Brandon Bolen, Live Oak Bank