Even outside of sba, most conventional loans, commercial real estate require this, personal guarantees as well. And so I think a lot of other entrepreneurs saw that as a way to get into the space, you know, and we hope that there's as much coverage and as many options as possible. We know that we're the first ones to market.
Acquiring Minds
How to De-Risk the Personal Guarantee
Excerpts · 257 segments · ~1:10:41 long
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And I think the one thing that I would say is that we really. Enjoy speaking to small business entrepreneurs because. We're kind of there, you know, we.
Understand that pain point. And we're just trying to be really a resource to have people to talk to when they're like, my deal closed. What. What do I do next? Or how do I get this across the line?
And that's really what our kind of bread and butter is, just developing relationships, helping people and, and trying to get. Them into this world. And that's, that's what we're going to double down on and what we can offer.
And if you call us at any. Time, we're just here to be a resource.
So there are personal guarantee insurance products elsewhere in the world, so there's a precedent for this sort of product.
Yes, there's, there's a product in several other countries outside the US And I think it's generally done pretty well. I think the difference is with the. US is you've got this really robust.
Sba, SMB lending market, which is different than where some of Those other countries. Operate anything I'm forgetting there, Brendan, the.
Growth in entrepreneurship through acquisition, through search funds, through the SBA loan program has really increased interest in what the personal guarantee does. The downside protection. You've had people talk about this for several years and many people, many folks on the commercial real estate side, you know, have done many deals before.
They're required to do personal guarantees from kind of early on in their careers. But in eta, often you've never taken out a loan before. So the personal guarantee is something new that you have to wrap your head around and it's a pain point and it's great.
There's other companies trying to do this. We think SBA loans are a really incredible product. It's an incredible vehicle to buy a small business with.
The returns you can get because you only have to put 10% down are really fantastic. Allows lenders to move loans that they wouldn't without the, the backing that the SBA provides. So anything that is growing this market and supporting entrepreneurs, we think is, is very good for everybody.
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