Agency Client Finder The Single Powerhouse For Offering Online Services, Getting Local Clients & Delivering Customer Solutions

Most individuals are into local businesses but don’t know what it requires to become successful local business consultants. Some even give up because they fail to reach as many customers as possible. However, with appropriate platforms, individuals can become successful business people.

Agency Client Finder is a legit platform individuals can utilize to ensure they know more about local businesses and engage with more clients. Let’s examine what it is and how it may benefit the users.

What The Product Offers

Below are some of the services that the Agency Client Finder provides:

  • A dashboard overview that shows all of an individual’s campaign leads.
  • It has ab open view showing a comprehensive analysis and specifics of individual leads.
  • There is a custom report that is customizable and is mechanically added to an individual’s contact email.
  • It includes a remail manager that allows individuals to customize their email sequences.
  • A campaign manager allows individuals to control their client engagement process.

How The Agency Client Finder Operates

The product requires individuals to carefully follow three key steps to ensure they succeed in being top local business consultants, and they are as follows:

  1. Find Prospects

It involves individuals looking for preferred geographical areas for their particular niche businesses and covers businesses in USA and UK. It mechanically finds overall details and runs significant checks on the business webs and social accounts.

Most businesses seek flooring experts, kitchen fitters, electricians, wedding planners, plumbers, and other specialists. The product provides simple means through which individuals can find new and potential clients.

  1. Full Business Analysis

It is a step that ensures individuals stand out from the crowd and takes them a short while to know about their prospective customer’s online presence. In this step, individuals will get comprehensive reports for prospective customers and understand them and their necessities.

It will ensure individuals reveal immediate authority and enhance their chances of engaging customers. Individuals will be ahead of their competitors and quickly and often convert customers.

  1. Contact, Engagement, and Closure

At this point, individuals already have primary leads, have analyzed the businesses, and have generated a client report; thus, their lead is a qualified prospect and is ready to contact future customers.

It offers highly likely prospects that will enable individuals to be ahead of other consultants since they have done their homework. They will better understand their customer’s business, will have a strong offering, and will be the ones to seal the deal.

The product consists of an intelligent client and campaign manager and wholly regulates their contact times. It ensures individuals get a positive response from their prospects. Connecting to online call scheduling guarantees potential clients can contact them at their convenience with no challenging sales pitches ad dramatically boosts their responses.

The Advantages

Below are the key advantages associated with the Agency Client Finder:

  • It is a web-based app; therefore, individuals do not need to download anything.
  • It utilizes cutting-edge technology, therefore, doesn’t strain individuals.
  • The product ensures a maximum global reach, reaching out to more potential customers.
  • The product has simple-to-use software. Therefore, it can be utilized by all individuals who desire to become successful local business consultants.
  • Through the Agency Client Finder, individuals can establish and develop successful businesses.
  • The product ensures users have high generation leads, drive mass traffic to their website, and acquire numerous potential customers.
  • It ensures individuals generate massive commissions, hence earning more income.
  • The product comes along with several bonus products to ensure users benefit from its usage.
  • It is an affordable product considering the benefits it offers to the users.

The Bonuses

The Agency Client Finder comes with several businesses, which are as follows:

  1. Customer Intellingence is a bonus product that will ensure individuals know how to create attractive buyer profiles to attract more audiences to their businesses.
  2. High Ticket Client Secrets ensures individuals set up their game and begin selling profitable tickets.
  3. Lead Generation on Demand is a guide that assists individuals in visualizing their success and generating more leads in any niche.
  4. Affiliate Marketing School ensures individuals become affiliate superstars and generate substantial affiliate commissions.
  5. Mobile Market Ninja is essential to extract laser-targeted leads from google.
  6. Email List Building Gold teaches individuals to build email lists and automate the whole process.
  7. Offline Client Attraction will teach individuals to know how to approach a business and ensure the generation of more profits.
  8. Client Acquisition Templates ensure individuals know how to retain existing customers through templates for accessible communication.
  9. Backlink Finder will ensure individuals enhance their traffic and profits easily and high SEO rankings.

The Client Agency Finder is compatible with all technical devices. So long as individuals have a stable internet connection.with the Agency Client Finder, individuals must not purchase credits, unlike competitors who charge expensively and require extra fees.Individuals will require to have Gmail accounts that are free to create. The creators also recommend individuals link to a free online scheduling app.

The Agency Client Finder offers individuals numerous benefits, such as ensuring they attract massive audiences who may be converted to potential clients. Additionally, the tool will ensure individuals gain successful leads. They rank highly on SEO and outrank their competitors.

The Targets

The Agency Client Finder targets individuals who utilize websites to promote their local businesses. The following are groups of individuals who will benefit from the product:

  • Local business consultants, be they agencies or single consultants, want to locate new customers quickly and better service their existing clients.
  • Web admins and site owners are the ideal targets to ensure they analyze their websites and their competitors and outrank them.
  • SEO specialists will utilize the product to ensure they identify safety and technical problems that could be lowering rankings.
  • Digital marketing analysts will benefit from the product since they can collect deep analyses and information for their local businesses and webs.

To conclude, the Agency Client Finder has seen many individuals succeed in online promoting their local businesses. It has ensured individuals find new clients and retain existing clients. There are numerous positive testimonials from individuals who have succeeded in its usage.

Source: http://agencyclinderfinder.com

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How to Write a Business Plan (Like a Pro)

The business plan is a document that outlines what your business is about and what it intends to achieve. However, few business owners understand how to really write a good business plan. They only think about writing a business plan when the time has come to acquire funding for their business.

And next, they write the business plans with the sole aim of getting money from banks or potential investors. This is the wrong way to go about things. Even without having funding in mind, it’s best to have a cohesive business plan written down, for your own benefit.

Below, we’ll show you how to write an accurate, detailed, concise, and comprehensive business plan that will give you the best chance of funding and assist you in understanding your own business.

Table of Contents [show]

Why Write a Business Plan?

The most commonly cited reason to write a business plan is to acquire funding. Whether you want to get an SBA(7)(a) or look towards venture capitalists, you’ll need a solid business plan.

The business plan is an outline of what your business is about, what your value proposition is, how you intend to market your business, the target demographic, and how you intend to spend the acquired funds.

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Tutorial starts at 1:20 Whether you’re starting a new business or just trying to get your existing business a bit more organized, writing a business plan is the perfect way to clearly outline how your business operates, declare goals, and set out a strategy to reach those goals. In this video you’ll learn about the six essential pages every business plan should have, what to record on each of those pages, and also how to write your business plan as quickly and easily as possible — even if you’re a complete beginner! 🔹
Download the FREE Six-Step Business Success Plan: https://www.gillianperkins.com/downlo… // WHAT TO WATCH NEXT Six Ways to Earn Six Figures Working from Home https://www.youtube.com/watch?v=Y1i8x… How I (actually) Got My First Client Online https://www.youtube.com/watch?v=AST3P… How I Created Multiple Streams of Income for Myself https://www.youtube.com/watch?v=dfaH_… How to Decide What Business to Start https://www.youtube.com/watch?v=Mid_A…
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In short, the business plan is a detailed representation of what your business is about, containing all the possible details that a potential investor would like to hear.

However, there is another reason why you’ll want to write a business plan. A business plan is essentially a crystallization of your business on paper. It will help you to understand your business. And it’s always useful to clearly define your goals and expectations.

The business plan helps you to do this, in the most efficient possible way. You are really hitting two birds with one stone. The business plan will help you to run your business, and could also help you to acquire funding. It could be said that there are four major reasons why you should write a business plan:

  1. To outline your business goals and aspirations in writing.
  2. To identify strengths and weaknesses objectively.
  3. To communicate the vision of the company.
  4. To convince investors to lend you money.

Stages of the Business Plan

There are many business plan variants that depend on your industry, business, size, preferences, and numerous other factors. However, the Business Plan is often described as going through 3 primary stages. These stages are:

  1. The Mini-Plan – This is really just a business plan outline. It is typically short, less than 10 pages in length. However, it will contain all of the relevant data. Depending on what you are trying to do and who you are trying to convince, the 10-page plan can be more than enough.
  2. The Working Plan – The working plan is often between 15 and 25 pages in length and explains how the business will operate in more detail. This is the plan that business owners will typically ‘work’ from, though it is still a little bit rough around the edges.
  3. The Presentation Plan – This is the business plan as presented to investors and bankers. It is the business plan with the correct terminology and images as appropriate for convincing a particular audience. This is really a term that is synonymous with a “business plan”.

Even before engaging in a full-blown business plan, it’s best to have a mini-plan to refer to. This can be used when hiring employees or working with partners/contractors, to give them an idea where the business is headed.

The 6 Components of a Business Plan Outline

While there is a lot of room for customization (and a lot of opinion on the matter), the business plan can be loosely broken down into 6 components:

  1. Executive Summary – Brief outline of the company.
  2. Opportunity – Value proposition and what you intend to do.
  3. Execution – How you intend to capitalize on the opportunity (sell products to customers).
  4. Management Infrastructure – Company hierarchy, organization, and significant persons.
  5. Financial Status – Cash flow status and projected income.
  6. Appendix – Any additional details and references.

These components are outlined in more detail below. Some steps have multiple subcategories (for example, you can break up step 5 into your current financial situation, projected financial situation in the future, and include a funding request).

Component #1 – Executive Summary

Executive SummaryThe executive summary is covered in more detail below in the 12 step outline. It’s the most important part of the business plan. It will contain:

  • A summary of what you provide and who you are.
  • The current market situation.
  • How much money you have, and how much you need.
  • A justification (brief) about why your business will succeed against competitors.
  • The growth potential of your enterprise.

The Executive Summary is actually the easiest part of the entire process. It’s only 1- 2 pages long and should be a neat outline of what you intend to achieve. But it’s very important to get this part correct. It will set the tone for the rest of the plan. So it has to read well and smoothly.

When writing the Executive Summary, take note that all businesses exist to solve customer problems. What is the problem, how are you solving it, and why are you better than competitors? If you answer these questions succinctly, then you are highly likely to acquire funding. Don’t hype your position – just state it clearly.

A great way to think about an Executive Summary is that it is a written elevator pitch. The Executive Summary is the perfect tool for you to refine your business concept. It allows you to write down a precise and exact concept about what your business stands for. If you have zero intention of acquiring funding from clients, it’s still a great idea to write out an Executive Summary.

Additional benefits of a concise Executive Summary are that it will help you to determine your priorities and will help the rest of the business plan run smoothly. It is often the case that if you start strongly, you will finish strongly.

Component #2 – Opportunity

The Opportunity section details where the customer base is under-served. This is a perfect place to include statistics indicating your target market and how it is expanding. Know your target market inside and out. What their spending habits are, what they are looking for, what methods of payment they prefer, how you can enhance their lifestyles, etc.

The more intimately you understand your target market, the better you can give them what they want. The more sophisticated investors will need to know that you have done extensive research on your target market.

Before you embark on any campaign you must do research to see what is viable and what isn’t. The best way to start is with a question and answer session. Here are some typical questions you could ask before starting out:

  • Is the overall industry stagnating, growing, or declining?
  • Is the demand for my specific products/services stagnating, growing, or declining?
  • What customer segment am I targeting?
  • What do customers pay, on average, for my products and services?
  • Will I offer products service for less, more, or the same price as the market average?
  • Is my price justified, and why?
  • Can I distinguish myself from my competitors in a meaningful way?
  • Have other businesses tried to do the same?

Asking these questions is critical to keep you on point. You can always refine your products and services later on, but you will still need to remain in the ballpark in terms of what the customers are looking for.

A key point here is that you need to distinguish yourself from competitors. Even in tough markets, you can do well if you offer a particular niche that is distinct from others. You will be the same, but different, though that is something of a contradiction in terms.

Investors will want to see that you are justified in asking for money and that you have given the issue a great deal of thought. Don’t get discouraged if you are in a tough and declining market. As long as you have a practical way of attracting a target market and the idea makes sense, then your business plan is solid.

A potential area of contention is that of creating a new market versus attracting an existing market. It’s entirely possible to create a market with new products. For example, nobody calls for new smartphones until they are released with new applications and features. When they find out about these new features, they ‘have’ to have them.

But as a general rule of thumb, you do need to give customers what they are already looking for. Creating a new market demand is for more ambitious types, and investors are typically very skeptical of these endeavors. Even the very best products may not sell if there is no market for them. It’s best to dig, do some research, and be very exact in terms of your target market and how you are resolving their problem.

The opportunity section will also include what your competitors are doing and how you can do it better. Differentiate yourself from your competitors as much as possible.

Component #3 – Execution

Execution is the sales and marketing side of a business plan. You can invent the world’s best application, and nobody will download it if you don’t place it in front of them.

This is where many businesses can fall short. You have to sell your products and services hard and aggressively. ’Build it and they will come’ does not work anymore. ‘Build it, market it aggressively, and they will come’ is much more accurate.

Read More……

Sarah Davis

By: Sarah Davis

Sarah Davis is a business executive specializing in mergers and acquisitions, corporate finance, and international law. She achieved her MBA from Cornell University after completing a legal undergraduate at UC Berkley. Sarah runs her own business consultancy firm in tandem with working alongside the FinImpact team.

Source: How to Write a Business Plan (Like a Pro) 2021..

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What Is Management 3.0 & Why You Should Pay Attention To Energize Your Teams

What Is Management 3.0 and Why You Should Pay Attention to Energize Your Teams

Jurgen Appelo is a software engineer, trainer, entrepreneur, author, speaker and traveler, who has been driving agility in companies. One of his works, Management 3.0 , condenses a team management methodology so that they can survive amid chaos and fragility.

This model, based on Edgar Morin’s so-called complexity theory, is based on the notion that a system – a company, a government, a project – is not feasible to analyze as a mere sum of its component parts; rather, it is the relationships and interactions that give it meaning and momentum. To graph this, imagine a network, with interlocking threads connecting each component. These threads are the facts, actions, decisions, and interactions that make up the world.

That is why management has been seen for several years as a system of networks and people, of dynamic relationships, and not only about areas or departments, profits and processes. It is a living system, not machines that systematically replicate the same result.

Principles for energizing and developing talent

In its 3.0 model, Appelo shares several principles that serve to support the work of leaders and teams in today’s changing world. Here are some of them:

1. Energize people

To achieve this, it is necessary to know what it is that motivates them and that is part of their life purpose: the more consistent it is with the purpose of the organization, there will be a greater individual commitment and team cooperation. For the psychologist and professor Edward Deci, there are two types of motivations:

  • Extrinsic: stimuli that are provided from outside the person (for example, a performance bonus, constant congratulations from the leader, etc.).
  • Intrinsic: those stimuli that are internal and relevant to the person, even when it is not their primary goal (for example, a project in charge). However, if you find a meaning, a why in what you do, you connect better and there is your own reward.

Author Daniel Pink offers a similar look at intrinsic motivation in his book “Drive”, where he affirms that most people are moved more by this type of impulse than by extrinsic. In other words, in the end and in essence, people care more about satisfaction than external rewards, although they should not be lacking, and he explains that there are three factors that new management leaders need to take into account to boost talent: mastery -the desire of each one to be better in what is important to him-, autonomy -the impulse to guide his own life-; let me mention self-leadership-; and purpose – intention to serve something greater than ourselves.

2. Empower teams

To achieve this, the author of Management 3.0 points out that it is entirely possible for each team to organize itself, if it has the confidence of the leaders.

At this point, it is essential that those who lead people focus on doing their job and not on micro-management and that teams participate in collective decisions on relevant issues. In addition, it is necessary for everyone to understand that they are part of a joint system, and not the mere sum of individualities, and that the knowledge of market needs is not in the hands of a single person, but that there is a broader perspective of their needs.

To empower, there are four lines of action that are strategic to generate relationships of trust:

  • Let the leader trust his team.
  • Let the team trust their leader.
  • Let team members trust each other.
  • Let the leader trust himself.

3. Development of skills

We already know that it is difficult for any company to achieve results if its members are not trained; and the leaders are responsible for enabling the conditions for this process to take place. Some ways are:

  • Leading by example: living what is preached.
  • Promote self-learning: appreciate personal maturing time.
  • Coaching and mentoring: as transversal support and support tools throughout the organization.
  • Training and certification: to raise standards against the competition.
  • Collaborative learning: internal development, where everyone learns from each other.
  • Learning from error: doing retrospectives and tests in controlled environments.
  • Measure the results: feedback in the shortest possible cycles; use of keeping metrics on information radiators; indicators agreed between those who participate.
  • Smaller teams: the author recommends no more than 10 to 12 people.

4. Improve everything and observe the team environment

It is key in the management 3.0 model to focus on real continuous improvement, for which it is necessary to facilitate change processes and model the natural resistance that may appear.

Some suggestions for leaders are to observe the team environment, what they need, and let it be known that you are available; find cracks or faults and go to their roots to promote solutions that the team implements; define clear and specific goals and have great communication skills, a key factor of every good manager.

Also, incentivize defining small victories or milestones that energize people; review achievements and not just failures; and it is also essential to recognize people.

The implementation of this leadership style implies a cultural change in companies that is not necessarily rapid, although it can be agile, if you have the conviction and vision to carry it out.

Ultimately, it depends on each company how far they want to go and on each leader, how much they want their teams to develop. Two questions that only they can answer.

By:

Source: What Is Management 3.0 and Why You Should Pay Attention to Energize Your Teams

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Many teams use Mind Maps to explore certain topics. Similarly you can use Personal Maps to explore your team itself. Personal Maps facilitate team collaboration and bonding in a rather distant world. With this video, you will learn how to use Personal Maps to break down the barriers of cubicles and longer distances, and then you may even learn how silly you were when you thought you had nothing in common! Here you can learn more about this Management 3.0 Workout: https://management30.com/product/work… Here’s a trick, instead of presenting your own, spark conversations by presenting each other! What are you waiting for? Try this 7-minute exercise out and tell us below how it went!
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How People Analytics Can Help You Change Process, Culture, and Strategy

It seems like every business is struggling with the concept of transformation. Large incumbents are trying to keep pace with digital upstarts., and even digital native companies born as disruptors know that they need to transform. Take Uber: at only eight years old, it’s already upended the business model of taxis. Now it’s trying to move from a software platform to a robotics lab to build self-driving cars.

And while the number of initiatives that fall under the umbrella of “transformation” is so broad that it can seem meaningless, this breadth is actually one of the defining characteristic that differentiates transformation from ordinary change. A transformation is a whole portfolio of change initiatives that together form an integrated program.

And so a transformation is a system of systems, all made up of the most complex system of all — people. For this reason, organizational transformation is uniquely suited to the analysis, prediction, and experimental research approach of the people analytics field.

People analytics — defined as the use of data about human behavior, relationships and traits to make business decisions — helps to replace decision making based on anecdotal experience, hierarchy and risk avoidance with higher-quality decisions based on data analysis, prediction, and experimental research. In working with several dozen Fortune 500 companies with Microsoft’s Workplace Analytics division, we’ve observed companies using people analytics in three main ways to help understand and drive their transformation efforts.

In core functional or process transformation initiatives — which are often driven by digitization — we’ve seen examples of people analytics being used to measure activities and find embedded expertise. In one example, a people analytics team at a global CPG company was enlisted to help optimize a financial process that took place monthly in every country subsidiary around the world. The diversity of local accounting rules precluded perfect standardization, and the geographic dispersion of the teams made it hard for the transformation group to gather information the way they normally would — in conversation.

In core functional or process transformation initiatives — which are often driven by digitization — we’ve seen examples of people analytics being used to measure activities and find embedded expertise. In one example, a people analytics team at a global CPG company was enlisted to help optimize a financial process that took place monthly in every country subsidiary around the world. The diversity of local accounting rules precluded perfect standardization, and the geographic dispersion of the teams made it hard for the transformation group to gather information the way they normally would — in conversation.

So instead of starting with discovery conversations, people analytics data was used to baseline the time spent on the process in every country, and to map the networks of the people involved. They discovered that one country was 16% percent more efficient than the average of the rest of the countries: they got the same results in 71 fewer person-hours per month and with 40 fewer people involved each month.

The people analytics team was surprised — as was finance team in that country, which had no reason to benchmark themselves against other countries and had no idea that they were such a bright spot. The transformation office approached the country finance leaders with their findings and made them partners in process improvement for the rest of the subsidiaries.

It’s unlikely the CPG company would have been able to recognize and replicate these bright spots if they had undertaken transformation with a top-down approach. And, perhaps more importantly, it involved and engaged the people on the ground who had unwittingly discovered a better way of doing things.

In bottoms-up cultural transformation initiatives, the how things are done is equally or more important than what is done. Feedback loops and other methods of data-driven storytelling are our favorite way that people analytics makes culture transformation happen. Often times, facts can change the conversation from tired head-nodding to curiosity. One people analytics team in an engineering company was struggling to help develop the company’s managers, for example. Managers often perpetuated a “sink or swim” culture that didn’t fit the company’s aspirations to be an inclusive, humane workplace.

The data analysis found that teams whose managers spent at least 16 minutes of one-on-one time with each direct per week had 30% percent more engaged direct reports than the average manager, who spent just 9 minutes per week with directs. When they brought that data-driven story to the front lines, suddenly a platitude was transformed into a useful benchmark that got the attention of managers. In this way, data storytelling is a lightweight way to build trust among stakeholders and bring behavioral science to culture transformation.

Top-down strategic transformation is often made necessary by market and technology factors outside the company, but here people analytics is a critical factor for execution. A people analytics team can serve as an instrument panel of sorts to track resources, boundaries, capacity, time use, networks, skill sets, performance, and mindsets that can help pinpoint where change is possible and can measure what happens when you try it.

One people analytics team at a financial services company was trying to help the CEO manage growth while he worked to instill a new culture in which departments would be asked to run leaner and more competitive in the market – “scrappy” and “hungry” were terms that often came up. As the transformation accelerated, teams were asked to do more with less, generate more data, and make decisions faster. Amid this, department leaders began to hear anecdotes about burnout and change fatigue and questioned whether the pace was sustainable.

To address this, the people analytics team provided their CEO with a dashboard showing the number of hours that knowledge workers were active for in different teams. When an entire team is over-utilized, he knows they can’t handle more change, while under- or unevenly utilized teams might be more receptive. He can also slice the dashboard by tenure, to learn whether recent hires have been effectively onboarded before approving new hire requests to absorb extra work.

As organizations increasingly look to data to help them in their transformation efforts, it’s important to remember that this doesn’t just mean having more data or better charts. It’s about mastering the organizational muscle of using data to make better decisions; to hypothesize, experiment, measure and adapt. It’s not easy. But through careful collection and analysis of the right data, a major transformation can be a little less daunting – and hopefully a little more successful.

By: Chantrelle Nielsen & Natalie McCullough

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AIHR – Academy to Innovate HR

What is People Analytics and how is it different from HR Analytics, Workforce Analytics, or Talent Analytics? What has made it so popular all of a sudden and why should you be excited about it? What is the ROI of People Analytics? These are the questions that will be answered in this video!

For more, related information, check out our HR analytics + digital human resources management courses and certification programs: 🎓 Learn everything you need to drive data-driven decision-making in HR (certificate program) 💥 https://bit.ly/3c6UQN8 🎓 Get the skills you need to use technology to make HR more effective (certificate program) 💻 https://bit.ly/2VjsdGm Have a greater strategic impact with data as an HR Business Partner 🎯 https://bit.ly/2vZou6a

Can’t decide? You can access all our courses and certificate programs with our full academy license 👩‍🎓 https://bit.ly/2w4k9P1 👋👋 P.S. Follow us on LinkedIn for the latest HR Analytics developments! https://www.linkedin.com/school/aihr/

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How to Finance an Acquisition Using an SBA Loan

If you want to buy another business, don’t let a lack of capital hold you back. You’re unlikely to land on that killer idea the first time, so serial entrepreneurship is your best chance of success.  When you spot a business for sale that would thrive under your leadership, but your funds are tied up in your current company, consider an SBA (Small Business Administration) loan to finance the acquisition. 

Hang on – what’s the SBA?

The SBA is a federal agency that helps small businesses get loans. I doesn’t issue loans itself, but it works with lenders to overcome obstacles to business lending, such as guaranteeing loans, reducing risk and sourcing capital. On a deeper level, the SBA funds, licenses and regulates investment funds that in turn lend to small businesses. 

Because the SBA helps foster competition and diversity in the U.S. economy, getting an SBA loan to finance an acquisition is relatively simple. Importantly, it doesn’t matter whether you’ve been declined credit before or have a poor credit history. You might still qualify for a loan with the SBA. That said, it does have certain eligibility requirements, including:

  • Your business must trade in the U.S.
  • You must have invested in the business yourself.
  • You must be a for-profit business.
  • You must have tried but been unable to source funding from traditional lenders.

Related: SBA Approves Simple 1-Page PPP Forgiveness Application for Loans of $50,000 or Less

Why finance an acquisition with the SBA?

Better rates

When you’ve run out of other options, the SBA can save a potential acquisition deal. But that’s not all. SBA loans are also competitively priced (under 8 percent). As a federal agency, the SBA enforces responsible lending and risk management so lenders can afford to charge lower rates and fees. You’re arguably less exposed to predatory practices when you borrow from the SBA than from subprime business lenders. Terms vary from seven to 25 years, giving ample time to repay at an affordable monthly premium.

Better terms

Because the SBA guarantees up to 85 percent of the loan, there’s less pressure on you and your current business to shoulder all the risk. You’ll rarely pay more than a 10 percent down payment, and if you’re borrowing less than $350,000, you won’t always need collateral. That said, you will need to sign a personal guarantee to repay the loan in full. 

Help and support

The SBA can be a helpful sidekick during the acquisition process, too. You might hit a wall of due diligence and legal wrangling, which can deter even the staunchest entrepreneurs from moving forward. The SBA has a vested interest in your success here and can support you right until you sign the purchase agreement with counseling and learning resources. 

Related: Multiple Owners? Here’s How to Prepare for Your Loan Application.

How to get an SBA loan to finance an acquisition

The general-use 7(a) loan is the SBA’s most popular, and it’s ideal as acquisition finance. You can borrow up to $5 million which is more than enough for acquisitions of small or even medium-sized businesses. You can only borrow what you can afford to repay, however, which an SBA-approved lender will determine when you apply.

To begin applying for an SBA loan, you first need a list of SBA-approved lenders in your area. Head to the SBA website, fill in some basic details and its matching tool will produce a list of suitable lenders. Do remember this isn’t an application, and those in the list won’t necessarily give you a loan. 

Next step is to apply, the specifics of which will vary from lender to lender. But be prepared to hand over or have scrutinized the following information:

  • The amount of money you want to borrow and its purpose.
  • A business plan. Because you’re acquiring a new business, this should include post-acquisition plans and why it’s the right acquisition for you.
  • Your financials. The lenders will want evidence you’re capable of repaying the loan. Expect to hand over tax filings, balance sheets, P&L statements and more.
  • Your experience. They’ll want to see your industry expertise in both your current business and the one you’re about to buy should it be in a different sector.
  • Your credit history. Again, don’t stress if your record has a few hiccups. The SBA underwrites a portion of loans and therefore can accept some poor credit applications. 
  • Collateral. How will you collateralize the loan? Will it be stock, property or other assets? Depending on the lender, you might be able to choose what’s off and on the table collateral-wise.  

The SBA and the lender will assess your application and return with a decision. 

Some things to remember

Plan early as getting an SBA loan takes time

If you’ve already found a business you like, apply for the SBA loan now. As you might know, dealing with federal agencies is a long and bureaucratic process. It might be a few weeks before you receive a decision and perhaps a week or two more to receive funds. Get the ball rolling as soon as possible so you don’t lose out to another buyer.

7(a) interest rates are variable

The 7(a) SBA loan type is a variable base rate plus a markup negotiated with your lender. When this base rate changes, the rate on your loan changes, so be prepared for paying a bit more or less each month over the term of the loan. 

Negotiate, negotiate, negotiate

You need to negotiate fees, repayments, collateral, interest and so on with the lender. The SBA limits what the lender can charge, but rest assured the lender will seek the best outcome for itself. Don’t be afraid to negotiate the terms – especially if you’re in a position of strength such as having a good credit rating. 

SBA loans are one of the best forms of credit available. The interest rates are low, and the repayment terms are fair. If you already own a business and are eyeing up another, don’t fret if you don’t have the capital to finance the acquisition. The SBA can help you seal the deal. 

Related: 5 Surprising Reasons to Love the Small Business Administration

By: Andrew Gazdecki Entrepreneur Leadership Network Contributor

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Alex Berman

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