Seth is a seasoned executive with an impressive track record of success, having held Vice President and Director positions across diverse industries. He has a wealth of experience in sales and understands the importance of building strong relationships and working collaboratively to achieve outstanding results. Seth is a skilled consultant, having helped companies of all sizes boost sales, streamline processes, and improve their bottom line. Notably, he played a crucial role in the mergers and acquisitions strategies for one of the nation's largest medical retailers.
Graduating from the University of Georgia with a Bachelor of Business Administration in Management, Seth has gone on to become a Certified Exit Planning Advisor (CEPA®) and holds a real estate license in Texas. Throughout his 20-year career, he has consistently been recognized for his achievements, receiving the highest rankings for his exceptional work.
Seth is a devoted family man and lives with his wife and two daughters in the Dallas/Fort Worth area. When he's not at work, he's active in his local church, where he volunteers his time and serves as the executive committee chair for finance.
![](https://cdn.prod.website-files.com/65ea0985692d72da7d382b80/6603384f69cf405468036d06_Seth-McCormick.jpg)
John is a successful cross-functional executive with experience in leading and strengthening finance, accounting, and operations organizations. He has held various executive roles, including CFO, VP of Supply Chain and Planning, and EVP of Finance and Operations, during his 17-year career. In these roles, John was an integral part of the leadership team that scaled a medical device company and sold it to a private equity firm for $161 million. He led integration efforts and participated in due diligence for all the company's acquisitions.
John began his career with the accounting firm Ernst and Young in Atlanta, GA, and has worked with both startups and a large, private equity-owned medical device manufacturer. He leverages his extensive mergers and acquisitions experience to help entrepreneurs successfully transition business ownership.
John graduated from the University of Georgia with a Bachelor of Business Administration in Accounting and holds a Master of Business Administration from Kennesaw State University. He currently lives in Marietta with his wife and two daughters.
![](https://cdn.prod.website-files.com/65ea0985692d72da7d382b80/6603382931da7cf6b8a2c113_John-Marsh.jpg)
Carl is an entrepreneur at heart. He was the third-generation owner of a wedding services provider with 14 locations and 200 employees. Carl led the effort to sell the 50 year-old business in a private equity roll-up of the industry, and his first-hand experience gives him an unparalleled understanding of what it’s like for a business owner to bring their company to market and negotiate a successful exit.
Carl is also an Adjunct Professor in the Executive MBA program at the University of Georgia and serves on the Board of the Shore Entrepreneurship Center at Kennesaw State University. He is the Founder of Brio Business Academy, dedicated to guiding business owners as they launch and grow their business. He is passionate about education because he believes that business owners make better decisions when they know how and why things work (or don’t!).
Carl graduated from the University of Notre Dame, and holds an MA from the University of Chicago, an MBA from the University of Georgia, and an M.Ed from the University of Loyola. He and his wife live in Dunwoody and have two sons that attend the Georgia Institute of Technology.
![](https://cdn.prod.website-files.com/65ea0985692d72da7d382b80/66033871f41ef6bfd8c6b604_Carl-Nicpon.png)
![6 Steps to Get an SBA Loan](https://cdn.prod.website-files.com/65ea0985692d72da7d382b80/661ff783055b0b76471681c5_office-1920.jpg)
An SBA 7(a) loan is a government-backed loan provided by financial institutions like banks and credit unions. The SBA doesn't lend directly, but they insure these loans in case a borrower defaults. This makes the SBA 7(a) loan an attractive option for lenders, since it reduces some of the risk involved. You can use the SBA 7(a) loan for a variety of things, including the purchase a business.
According to the SBA website, the average loan amount is $340,000. The maximum amount you can borrow is $5 Million and there is no minimum.
The application process and paperwork required for the approval for an SBA 7(a) loan can be lengthy. You need to know going into this process that it is going to take some time. Follow these steps to make your experience successful.
1. Determine if You Qualify.
SBA 7(a) loans have stricter qualification requirements than other business loans. In order to qualify the buyer will need to meet the following minimum requirements:
- Credit score of at least 690
- No bankruptcies in the past three years
- Have at least 10% of the purchase price for a down payment
- If you are buying a franchise, then you will need to pay the franchise fee before the loan funds are released
- A clean criminal history, or the ability to explain any misdemeanors on your record
- No current Federal debt
- Industry experience or proven record of running a business and managing people
2. Determine if the Business Qualifies.
The business that will benefit from the loan will need to meet the following requirements:
- A for-profit entity
- By definition a small business
- Based in the United States
- The business owner has invested their own time or money into the business
- A business that has exhausted its other financing options
3. Do Your Homework.
Before you start contacting lenders you should do some homework. Most lenders expect you to have some kind of business plan for a business startup. For purchasing an existing business, the business plan doesn’t have to be an extensive. You need to know how much you want to borrow. Typically, the borrower will need at least 20% down payments plus working capital. Be prepared to present some financial projections and show how the borrowed money will be used. Many lenders required other assets to be used as collateral to guarantee the loan. And finally, be prepared to show your lender that you have industry expertise and firsthand knowledge about the business you are purchasing.
4. Prepare the Necessary Documentation.
Use the checklist below to ensure you have everything the lender will ask for to complete your application. Once your loan package is complete, your lender will submit it to the SBA.
This checklist consists of a combination of personal and business information along with the standards forms and applications required by your lender and the SBA. The following additional information is needed for purchasing an existing business:
- Current balance sheet and P&L statement of business to be purchased
- Previous two years federal income tax returns of the business
- Proposed Bill of Sale including Terms of Sale
- Asking price with schedule of inventory, machinery and equipment, furniture and fixtures
5. Find a Lender.
A good place to start is with the bank that the business currently banks with. You can also ask the business broker for a recommendation – they typically know a few SBA lenders. Ask lenders about interest rates, minimum credit score, cash flow requirements, and other qualifying factors. Get an understanding of prepayment penalties, grace periods, and if/when the lender can demand full repayment of the loan’s principal.
6. Be Patient.
Because of the additional paperwork, forms, and applications required for the SBA guarantee, the process of obtaining a loan can take significantly longer. The lender must provide all of the information to the SBA for their review. Then the SBA must approve the information and issue an ID number. Once the ID number has been issued, then the lender can go ahead and fund the loan so you deal can close.