e tend to think that here in the States we got it good with the SBA.
That this is a unique unlock for American entrepreneurs to go buy businesses.
And that our counterparts in other countries have it harder.
But after today's interview, I'm starting to wonder.
Andrew Stordeur bought at 25-year-old outdoor furniture manufacturer.
Really neat business, which we spend time on.
But we also spend a lot of time on the fact that Andrew, a Canadian in Calgary, not only had no problem accessing financing from banks in Canada to do this deal.
He got great terms.
Andrew had to use very little of his own money to buy a business doing $700k in EBITDA.
Now as you'll hear, a big part of the advantageous terms he secured from the banks was based on the fact that the seller was willing to finance a big piece of the deal: in the 35% range.
So, this may be a special case.
But it's an illuminating case study for all the non-Americans out there, and us Americans too, about getting a deal done without the SBA.
Please enjoy this interview with Andrew Stordeur, owner of All Things Cedar.
