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Podcasts/Acquiring Minds
Acquiring MindsJune 20, 2024✓ Verified in SBA records

Why Work IN the Business You Buy (Not Just On It)

with Colin Gates · MasterCraft Coatings

Listen to Episode →

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

The Deal

Business
MasterCraft Coatings
Industry
commercial painting business
State
MI
Purchase Price
$1.1M
Multiple
3.0x
Year
2023
LTV at Close
95%
Deal Source
bizbuysell

Financing Structure

$881K
SBA 7(a)
$881K (84%)
Seller Note
$105K (10%)
Buyer Equity
$64K (6%)

Strategic Rationale

Acquired a stable 30-year-old business with non-cyclical HOA clients to implement tech efficiencies.

Post-Acquisition Performance

Projected 50% growth in first year; revenue grew from $2M to $3M+.

The LenderHawk View

Real lenders that finance similar deals

Active Lenders
10
Median Spread
P + 2.50%
Top Lenders
The Huntington National Bank72 deals
First Internet Bank of Indiana25 deals
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First Western SBLC, Inc20 deals
See all matching lenders →

Matched SBA Loan Records

SBA loan filings we matched to this deal

Fifth Third Bank95%
$25KP + 1.00%FY2016
Independent Bank95%
$200KP + 1.00%FY2025

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