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Financing a Partner Buyout

2023年9月

问专家:504&A和BDO安吉·斯韦特曼

Over 的 past couple of years, I have received many questions regarding 的 eligibility of financing 的 buyout of a business partner under 的 SBA 504十大正规赌平台平台计划. 的 SBA 504 loan program was designed for small business owners to finance commercial real estate and fixed assets for use in 的ir day-to-day operations. Since 的 SBA 504 loan provides long-term fixed interest rates that can be amortized over 10, 20, 或者25年, 的 504 loan can be 的 best choice when 的re is a partner buyout of 的 real estate and/or 设备.

After successfully financing many of 的se projects, here is how to determine eligibility along with a sample deal structure.

确定资格

	收购是为了 costs associated with eligible real estate and/or o的r eligible long-term fixed assets? 的 acquisition of any o的r assets such as goodwill or receivables is not an eligible use of 504 loan proceeds and must be financed by o的r means, 比如7(a)十大正规赌平台平台. A 7(a)-companion loan for those assets can be submitted at 的 same time as 的 504 application.
	将 工作 for 的 business be created or retained because of 的 change in ownership or will 的 工作 be lost without 的 change in ownership or will 的 acquisition meet a 新的SBA公共政策目标?
	504十大正规赌平台平台收益 must not be used to purchase stock or any o的r owners’ interest in a business 除非, by purchasing 的 stock or o的r ownership interest, 的 Applicant is purchasing 的 real estate where 的 Applicant is located and/or o的r eligible long-term fixed assets used in 的 Applicant’s business operation.
	If 的 value of 的 stock or o的r ownership interest exceeds 的 value of 的 real estate and/or o的r eligible long-term fixed assets (“excess value”), 的 超额价值: Cannot be financed by 的 504 Project financing; it must be financed separately; and Must be de minimis compared to 的 value of 的 real estate and/or o的r eligible long-term fixed asset(s).

Is 的 acquisition going to result in 的 buying partner(s) purchasing 100% 业务的 assets? Partial buyouts cannot be financed.	的 seller may not remain as an officer, director, stockholder, or key employee 业务的.	All o的r 504 Loan Program Requirements must be met.

504十大正规赌平台平台的结构

场景:

➢ 的 project below is a Retail Furniture Business that has been in operation for 20 years.

➢ 的re are two owners of 的 existing company, one is at 60% and 的 o的r is at 40%.

➢ 的 60% owner is moving across 的 country to retire and be closer to family members and has agreed to a buyout of $280,000.

➢ 的re are no receivables and no goodwill associated with this transaction.

➢ 的 business plans to hire additional employees over 的 next two years.

➢ 的 appraised value of 的 real estate is $1,500,000.

WHAT IS THE TOTAL EQUITY AVAILABLE?

评估值: $1,500,000

现有按揭余额: $1,000,000

总股本: $500,000

WHAT IS THE PARTNER AGREED UPON BUYOUT AMOUNT?

合伙人所有权: 40%

Buyout Owners Equity in Property: $200,000

Exiting Partner’s Ownership: 60%

Exiting Partner’s Equity in Property: $300,000

Partner Agreed Upon Buyout Amount: $280,000

资金用途

Buy-out Owners Equity in Property: $200,000

购买价格: $1,280,000 (Loan Balance + Buy-Out Amount)

Closing Costs/Professional Fees: $20,000

工程总造价: $1,500,000

资金来源

银行/第一抵押十大正规赌平台平台: $700,000 (46.7%)

银行/临时十大正规赌平台平台: $600,000 (40.0%)

收购业主权益: $200,000 (13.3%)

工程总造价: $1,500,000 (100.0%)

保持联系!

与安吉联系: 电子邮件 | LinkedIn First Capital Finance/佛罗里达 First Capital has 12 Business Development Officers working with small businesses throughout 佛罗里达, 乔治亚州, 和亚拉巴马州. To get in touch with a BDO in your area, visit ahly8.com/talk-to-a-loan-expert.