Independent Sponsor SBA Financing in Specialty Distribution
Independent sponsor counsel for specialty distribution, focused on SBA Financing and the deal mechanics that protect sponsor economics and LP alignment.
An independent sponsor closing specialty distribution transactions in the $10M to $100M EV range has a defined set of moves at the SBA Financing stage. Most of them are not in a generic M&A textbook.
The typical specialty distribution platform sits at $10M to $100M EV with EBITDA in the $2.5M to $18M range. The thesis runs on vertical buy-up of niche product distributors. Most distribution multiples are wrong by half a turn until the rebate accounting gets normalized.
How SBA Financing actually gets structured.
Confirm eligibility against SBA size standards before signing the LOI.
Structure personal guarantees with care; SBA lenders require them but they can be narrowed.
Plan the seller note as on-standby debt, supporting the SBA loan covenant package.
Time the SBA approval process into the closing schedule; allow 90 days from full application.
In specialty distribution, layer in supplier reaffirmation letters before LOI signs as part of the SBA Financing workstream.
Promising the seller an SBA-funded close in 60 days. SBA does not move at LOI speed.
"SBA debt is the cheapest money in the independent sponsor market. The trade is paperwork and time."Jason Powell · SBA Financing
The deal is one thing. The capital that opens up after close is another.
After close, the call list for refinancing, recapitalization, and growth equity gets short and known. Jason carries that list.
Related deal pages.
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Bring the specialty distribution deal. Get SBA Financing done right.
Direct counsel from a securities and M&A attorney with billions in structured transactions, the independent-sponsor-native playbook, and the capital markets network that opens up post-close.