Yeah. Fascinating. Okay, and so just to hear again, on the terms, the rate was better than what you would have gotten in a comparable SBA loan. The fees were lower, considerably lower. And then the only way that it was inferior to the SBA was the amortization schedule was.
Acquiring Minds
40% Growth in Year 1 of a Paving Business
Excerpts · 499 segments · ~1:33:07 long
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Was shorter, but not a ton shorter. It was seven instead of 10. Right.
It was seven instead of 10. But, you know, I also had a. A good buddy tell me, hey, if it takes you 10 years to pay the business off, then it's not the right business, which.
Which I agreed with, you know, so I was certainly fine with the. With the seven.
Interesting insight by your buddy. Anything more to say, Eric, about the process of closing on this business before we hear about how you've grown this thing 40%.
Yeah, I'll. I'd like to just give a quick shout out to my buddy Hunter here at Hangar Law. They. They helped me throughout the whole thing, and he's a great entrepreneur himself. He's just interested in learning about different industries.
He actually helped me through a lot of the stuff, just, you know, on his own time, just being a good friend, so I just want to mention him. Great.
Cool. Okay, Eric. So Peninsula Pave paving or pavement Paving?
Peninsula Paving. Yes.
Peninsula paving. Penpave.com. i love the domain. It rolls off the tongue. How did the transition go?
So I think, you know, once we closed, it was so much work to get there that it was almost like, my gosh, are we really Just going to reset and start over, which is what you have to do, but, you know, you get to the table.
What do you mean, start over?
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