And I got a lot of assurance from him that there are ways to get a deal done with a lender, but it has to be kind of presented the right way and to the right people. And I felt that, well, there's already so much we have to do as a searcher, understanding deal structure, negotiating, building relationships.
Acquiring Minds
From 16 Years in Corporate to a $1m SDE Acquisition
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All these aspects that for many are learning for the first time, I just didn't think trying to negotiate and navigate the banks and lenders was something I needed to learn. So, you know, I was quite convinced that having an advisor in that respect was important.
Jesus, by loan advisor, you mean what we might also call down here a loan broker. So their role is to be an expert in understanding the credit boxes of all the banks, how it works, help you navigate the process, help you position yourself to the banks. And then they get paid by the bank on a commission of the loan that's ultimately written.
Yeah, that's right. Yeah, that's the service that Joey offered and what I was originally seeking. But his firm actually does more than that. He sort of works at different levels depending on the searcher's needs.
The reality is I got to know Joey really well... And I think he was just one of those people that I could see helping me with more than just the lending aspect. You know, what you describe is exactly what he can do.
But he also offers somewhat of a by-side advisory service. And I wasn't looking for that at first, but like I said, I wanted to have strong partners by my side, stack my advantages. And he was one of those people that I could see working really well.
So he helped me with reviewing deals, structuring my offers and negotiating. And I think it really helped me in my journey, which often is quite... lonely and quite solo.
Jesus, you were going to mention other people on your deal team?
Yeah, I really want to shout out Haifeng Hu from the Bennett Jones Law Firm and Kevin Yu from M&P who did the accounting work for us. But yeah, these are all great guys. And I really have to say that my process is quite diligent.
I interviewed like 20 lawyers and chose one. But there was an element with all those individuals where I could see they cared about the success of me landing a deal that is good for what I'm looking for. And it's hard to pinpoint, I guess.
It's just having those conversations and being real about it. I could sense this vested interest in me succeeding.
What can you tell us about the terms of this deal and the structure, the financing, et cetera, et cetera? Where did this end up landing?
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