JackQuisitions - Small Business Acquisitions in Home Service

#13 The TRUTH About SBA Loans & Business Acquisitions

Jul 25, 2025

Alan Peterson from First Internet Bank, an expert in SBA lending for the skilled trades, reveals the secrets of navigating SBA loans for business acquisitions. He explains the differences between the 7(a), 504, and Express programs, emphasizing the importance of gut instincts and relationships in deal-making. Alan highlights the value of prequalification and how personal guarantees affect loans. He also discusses recent SBA changes, stressing thorough due diligence and the hidden values in unique business models. This discussion is a must-listen for aspiring business acquirers!

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ADVICE

Separate Business from Seller

Do not let liking the seller cloud your judgment in purchasing decisions.
Focus on the business fundamentals, not personal feelings, to protect your investment.

ADVICE

SBA Loan Program Selection

Choose SBA loan programs based on use: 7(a) for acquisitions, 504 for real estate, Express for working capital.
Combine SBA 7(a) and 504 loans to finance business and property together efficiently.

INSIGHT

SBA Loan Timing Insight

SBA 504 loans typically take 30 to 60 days longer due to dual approvals.
7(a) loans often provide simpler, faster financing when real estate is part of acquisition.

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In this episode of Jackquisitions, Jack sits down with Alan Peterson from First Internet Bank to demystify the world of SBA lending for business acquisitions.

Alan shares what most acquirers miss when evaluating loan options—including why gut instinct matters just as much as financials, how to approach deals with transparency, and when to prioritize prequalification over perfection. Whether you're exploring the 7(a), 504, or SBA Express, Alan breaks down the programs in clear terms—and how to use them to your advantage in today’s competitive acquisition market.

If you're planning to buy or expand a small business, this episode is your roadmap to leveraging SBA financing like a pro.

⚡ What You’ll Learn
How to choose between SBA 7(a), 504, and Express programs
Why being personable and transparent wins deals
The real impact of personal guarantees and collateralization
How to get prequalified—and why it gives you an edge
What “off-market” really means in a tight deal flow environment
How SBA loans can fuel both acquisitions and expansions
Why waiting for the perfect deal might cost you everything
The overlooked value of lender support throughout the buying process

💼 Special Thanks to First Internet Bank!

Looking to buy or expand a business? First Internet Bank is a National Preferred SBA lender specializing in acquisitions for the skilled trades. Their SBA loan program offers up to 90% financing for business acquisitions, partner buyouts, and commercial real estate—plus optional lines of credit to fuel future growth. Unlike traditional lenders, they take a “how can we” approach, making deals happen for both first-time buyers and experienced operators.

👉 Special Offer: Mention Owned and Operated for a reduced good faith deposit and a complimentary deal review + buyside prequalification.

Connect with Alan Peterson from First Internet Bank here to get started

👤 Hosted by
Jack Carr

👤 Episode Guest
Alan Peterson

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