Business Confidential is compiled from information picked up by Carl Grimes and other CBI Team members on the streets, in the offices and around Northwest and Central Arkansas, and Northeast Oklahoma. The names aren't being revealed to protect the innocent (and sometimes the guilty!).

Dateline-Northwest Arkansas:

● 3 months and $1.3 million dollars...wasted. That’s what a local businessman told me his recent attempt to buy a business cost him.

Why, the seller backed out at the last minute.

We just don’t have that happen here at the CBI TEAM. Our professional representation makes sure the seller/business owner is committed to selling before we take the deal to market.

It’s too expensive for all parties to have uncommitted sellers, buyer (or business intermediaries).

● The same buyer had a question about a 1031 Exchange which is a way to defer taxation when selling certain real estate and other assets. We referred him to a knowledgeable attorney to draft his 1031 code for the IRS. CBI Team has professional contacts that we have developed relationships with over the years that our clients find is an added value to the service we offer. a tax deferred way of helping on the sale of real estate and, rarely, some business assets. I gave him the name and contact information for an attorney I’ve known for over 25 years who helped draft the 1031 code for the IRS. Helps to know folks who know folks.

● We obtained a pre-qualification letter on a big distribution business we’re representing for sale. We now know how much down payment it will take to buy the business. This helps us help buyers get more cash through our Loans4Biz program . Kelly Tivis, CBI TEAM L4B administrator knows how to get the best loan deals for buyers by working with the 90+ lenders in our program. CBI Team sells more businesses because we help buyers find the money to buy them.

Dateline-Northeast Oklahoma

● The CBI Team Tulsa office is growing with the addition of two new Intermediaries to the team. Roy Still the Managing Partner would like to introduce Jeff Pickle and Patrick Sullivan. Jeff is an experienced marketing professional, entrepreneur and small business consultant, Patrick has been a professional business intermediary for several years in California and Oklahoma as well as a small business owner himself.

● SBA announces National Small Business Week to be held from April 29 - May 5, 2018. The SBA will recognize outstanding small business owners from around the country and conduct virtual events, roundtable discussions and educational opportunities throughout the SBA’s 10 Regions and 68 Districts.

● The SBA has also made some significant positive changes in 2018. These changes make acquisition loans more attractive and attainable. Small business lending at big banks and institutional lenders hit new highs last month and has nearly doubled from the low. The current business-friendly political climate along with tax reform and deregulation has people thinking about becoming entrepreneurs. If you have been waiting for the right time to sell your business, the time is now.

You Need to Know WHAT?

By Carl Grimes, Chairman-Confidential Business Intermediaries/The CBI TEAM Northwest Arkansas

Get your tickets here…get your tickets to look at businesses right here!

What do you mean, get your ticket to look at businesses?

Well, yes, there is a ticket you have to provide to look at businesses listed by the CBI TEAM.

Good news… they are FREE.

But, as usual with anything FREE, there is a catch. Free means no cost, but you will have to provide some information about yourself. The business owners (Sellers) have engaged the CBI TEAM to make sure their businesses are disclosed only to serious buyers. “Serious” means the buyer has M&Ms.

Motivation.

Money.

No M&M, no ticket. The business seller requires the CBI TEAM to discover the M&Ms of each buyer.

Motivation? Will the buyer do what we require to learn about the business? This starts with coming into one of our five offices for a “free” no obligation consultation on the steps to buying a business. After the consultation the buyer will be asked to fill out the following:

·         NDA-Non Disclosure Agreement promising to keep the information about the business confidential

·         Financial Statement- This is absolutely necessary to determine if the buyer has sufficient money to make a reasonable down payment on the business about which they have inquired.

·         Agency Acknowledgement-Informing the buyer that the CBI TEAM represents the business Seller and not the buyer.

·         Dream Sheet- Tells us more about the buyer’s interests in different types of businesses because 90% of the time the buyer doesn’t purchase the business about which they first inquired.

The document most buyers fail to provide is the financial statement. But, this document must be provided because otherwise the CBI TEAM doesn’t fulfill its obligation to the Seller to only disclose the business to pre-screened buyers who meet the M&Ms, Money and Motivation.

Not providing a financial statement will stop or slow down the process.

The financial information provided by the buyer is held confidentially and not disclosed to the seller until the buyer makes an offer on a business.

So, you want your free ticket to look at CBI TEAM listed businesses, then provide the information…all the information, requested by the CBI Intermediary. We want you to get a ticket but you must cooperate to get one. For more information call CBI at 877-582-5200 and we’ll get you in for a free, no-obligation consultation on the steps to buying a business.