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Podcasts/Acquiring Minds
Acquiring MindsMay 22, 2023

Overworked & Underpaid: Buying a Business to Escape

with Heather Shattuck-Heidorn · The Tailored Closet

Listen to Episode →

LenderHawk analysis. Not affiliated with or endorsed by Acquiring Minds.

The Deal

Business
The Tailored Closet
Industry
custom closet design & install business
State
ME
Purchase Price
$775K
Year
2024
LTV at Close
90%
Deal Source
broker

Financing Structure

SBA 7(a)
Seller Note
$78K
Buyer Equity
$78K

Strategic Rationale

Sought a business with high margins and a proven franchise system for work-life balance.

Post-Acquisition Performance

On track for $1.5M revenue; expanded into garage flooring; hiring new designers.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 1.30%
Top Lenders
TD Bank, National Association6 deals
Bangor Savings Bank5 deals
Androscoggin Savings Bank5 deals
Manufacturers and Traders Trust Company5 deals
Live Oak Banking Company5 deals
See all matching lenders →

Matched SBA Loan Records

SBA loan filings we matched to this deal

Readycap Lending, LLC85%
$165KP + 2.75%FY2026
Mission Valley Bank85%
$281KP + 2.75%FY2023
Stearns Bank National Association85%
$147KP + 2.75%FY2019

Want the Full Story?

The full narrative — the personal details, the hard moments, the host conversation — only lives in the original. Go listen.

Listen on Acquiring Minds