Two weeks ago, the Small Business Jobs Act of 2010 was signed, allowing eligible business owners to borrow up to $5 million with the SBA loan. This is great news for small business! This act opens the door to individuals looking to buy a business in the $5 to $7 million range by facilitating financing and allows many companies to hire new employees, purchase new equipment, or make strategic acquisitions to grow their businesses.
Probably the most important news is that it offers a temporary raise in the guarantee to lenders on 7(a) loans to 90%, providing lender the incentive to lend and waives the guarantee fee until January 1, 2011, saving borrowers thousands of dollars!
If you have considered growing your company by acquiring a business where you can capitalize in the synergies, perhaps of a competitor, or a supplier, now may be the best time!
Plethora Businesses is a leading mergers and acquisitions firm in the city of Orange, and we are happy to meet with you to discuss a strategic acquisition, or how to increase the value of your company.
Contact us at (714) 255-8862 or e-mail George@plethorabusinesses.com if there is anything we can help you with.
For your convenience, I have included the link to the SBA’s press release about the recent changes in SBA lending.
http://www.sba.gov/idc/groups/public/documents/sba_homepage/news_release_10-54.pdf
Thursday, October 14, 2010
Wednesday, October 6, 2010
Announcing the Sale of Leading Medical Supply Company
Plethora Businesses announces the sale of a leading medical supply company in Southern California. Established in 1991, the company provides cylinder gas, respiratory and other medical equipment rental services and sales to nursing facilities throughout Southern California.
The buyer of the medical supply company currently owns a home oxygen solutions and services business providing a respiratory line of devices, supplies and oxygen systems. Having purchased the oxygen company through Plethora Businesses in 2009, this additional strategic acquisition creates corporate synergies that will increase production efficiencies and help grow the company.
To complete the ownership transfer, Plethora Businesses consulted with the owner, completed a company valuation, managed negotiations and closed the deal.
Plethora Businesses is a leading M&A firm specializing in business sales, mergers, acquisitions and valuations. Offering senior level attention from start to finish, Plethora Businesses is dedicated to developing creative solutions to achieve clients M&A objectives.
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