No SBA, No Investors: The Liquidity Access Line

Not the most obvious path to go from Fortune 500 digital marketing to acquiring a direct mail business. But today's guest saw an opportunity that most people miss. Brian Jungles acquired Citi Publications Atlanta, a direct advertising business that has served the local home services market since 1996.

The flagship of an 11 market franchise system, it connects local home services companies with Atlanta homeowners through targeted print campaigns. Brian had spent nine years at Adobe managing a $34 million book of digital marketing business, pitching campaigns to Fortune 500 CMOs. What he kept hearing even from the most tech forward companies can this integrate with our direct mail?

That signal, combined with the growing analog revolution, ad blindness, online proliferation of AI slop is the heart of his thesis. Listen for how Brian financed the deal. He skipped the SBA entirely and instead borrowed against his investment portfolio via a liquidity access line from his bank.

Roughly half the SBA interest rate and no fixed monthly repayment schedule. It's a structure I hadn't heard before, and if you have a material balance sheet, it's worth understanding. Also, listen for Brian's reasons for buying so small One employee, no payroll, no investors and why he saw all of that as Feature not bug Here is Brian Jungles, owner of Citi Publications Atlanta.

You know that a quality of earnings report uncovers critical financial risks in your target acquisition. But a Q of E also comes with a significant price tag, so you don't want to kick one off before you're actually ready. In a webinar tomorrow Tuesday, Chris Williamson and Derek Pitts of diligence firm Cane Crossing will show you how to do more of your own lift before engaging a diligence…

Among the topics you'll how to conduct a pre quality of earnings financial review, how to assess add backs and common mistakes to avoid balance sheet red flags that deserve closer attention how to build an effective pre Q of E data request and the key information your Q of E provider will request to kick off diligence when you're ready, you'll leave the webinar with a practical framework for…

The webinar is don't how to Prepare for a Quality of Earnings Report. And it is tomorrow, Tuesday, July 21, noon Eastern. Link to register is right at the top of this episode's show Notes or on the Acquiring Minds homepage acquiringminds Co.

Then on Thursday, we're hosting top SBA loan broker Heather Anderson. We hear it all the time. A smart buyer closes on a great business, then quickly realizes they underestimated how much cash they need to actually operate it.

Well, Heather's going to take a deep dive into working capital and its role in entrepreneurship through acquisition, including what working capital actually is and how it functions in a business why so many buyers underestimate their working capital needs how working capital impacts deal structure and SBA financing Common post close cash flow challenges including payroll, operating expenses and…

The webinar is Working Capital One of ETA's Most Expensive Mistakes and it is this Thursday, July 23, noon Eastern. Link to register is right at the top of this episode's show notes or on the Acquiring Minds homepage. AcquiringMinds cool.

Welcome to Acquiring Minds, a podcast about buying businesses. My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs and on this podcast I talk to the people who do it.

If you ask owners in the ETA and search community which insurance broker provides highest quality work, great outcomes and has a practice dedicated to searchers and acquisition entrepreneurs, one name comes up again and again.