By Michael Shea | Senior Business Broker, Transworld Business Advisors Let’s talk about the elephant in the room: unreported cash. It’s common, it’s tempting, and let’s be honest — it’s still happening in way too many small businesses. Whether you run a landscaping company, a restaurant, a cleaning service, or a pool route, there’s […]
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Debunking the Myth: How Easy It Is to Secure SBA Financing for Your Business
SBA lenders favor buyers with experience in the industry of the business they’re purchasing. This doesn’t mean you need to have owned a similar business, but having a background in the same or a related field reassures lenders that you can manage the business effectively. For example, a buyer with restaurant management experience is more likely to secure financing for a food service business than someone with no relevant background. A well-crafted resume highlighting your expertise can make a significant difference.