A $10m Acquisition for Freedom and Family

just looking for somebody other than you who had touched this deal to interface with. So the loan broker was the closest thing. And then they made it happen.

And a perfect time here to mention Matthias Smith, who is, of course, a sponsor on Acquiring Minds, full disclosure. But I actually found your story, Anika, because he posted about it closing on LinkedIn. And that's why I reached out.

He did.

he did yes great yes um excellent and The peri-pusu nature of this, so reminder to the audience, what that means is if a business, if a purchase price goes beyond the 5 million, which is the cap for an SBA loan, the lender can bring in additional debt, conventional style debt into the deal at their discretion to, in your case, get you to that additional 2.6 million to do a 7.6 million deal.…

to say about using Peripisu or were there extra requirements or what's that look like, if anything?

Yeah. So Peripisu, in my experience, it's only up to 3 million extra. So total is 8 million. Yeah.

Ah, yes. I think I've heard that too.

Yes. Now, I have seen advertising for up to $5 million in purpose, so the total loan amount to be $10 million. I have not talked to anyone who has achieved that. I've only talked to up to $8 million.

Mine was $7.6 million, and I have a $400,000 line of credit if I need it. I'm hoping to never touch it. The Paris Pissot makes the loan more complicated and it makes the underwriting longer.

So I got my term sheet after the QV, I would say end of January. Actually, so I got my initial term sheet, you know, with the LOI, right? Just based on my finances, they gave me the term sheet.

The one for the, I would say, more serious one, right? The one after the QV. They... really sent it to underwriting in end of January.