We Spoke to 70+ ETA Deal Team Partners (So You Don't Have to)

This Week in ETA:

• Searchers: Need recs for a lawyer, QofE, or loan broker? We spoke to 70+ people to narrow it down to the top few providers in each category and have it all in a handy guide (including pricing!). Download the guide here.

• Investors: We’re seeing deals go through as normal despite the new SBA rules with only changes to the Put option language (now only exercisable after the SBA guarantee is released). It’s bank-by-bank; some are pushing back on the standard distribution waterfall that prioritizes investors, but are relenting from what we’ve seen as they become comfortable that the new SOP doesn’t actually change this. Good overview here.

Plus:

• “Step up” is a confusing concept in self funded search investing. I break down why it’s beneficial for searchers and investors here.

• How to address customer concentration risk. It’s easy to tell yourself a story that you’re covered here when you aren’t.

Question:

Hit reply and tell us - what would be the most valuable piece of content (for you) that we could produce and share via this newsletter? We have the time & team to do great stuff.

P.S.

If you accidentally got a draft of our first issue earlier this week, our apologies! Thanks for being part of the softest soft launch of all time.