egular listeners of Acquiring Minds have heard a number of difficult stories of failed SBA loan-acquired businesses and the personal bankruptcies that ensue.

Well today's story feels doubly tragic, as two businesses were ultimately brought down.

Edgar Galindo and his partner Matias bought a landscaping business in Austin with an SBA loan.

Just 6 months later, another highly-complementary acquisition opportunity in Dallas came across their desks. They jumped at it.

Well as you'll hear, the situation in Dallas declined quickly. Undisclosed liabilities, employees stealing customers to launch a competitor, and legal action.

The business became unviable, which meant that its debt service shifted over to the Austin business, which was now carrying effectively two high-leverage SBA loans.

That is one too many, and the partners have just decided to shut the Austin business down as well.

Edgar tells the entire painful story.

Listen for his transparency on personal bankruptcy; he lays out the dollars and cents of exactly how it affects his assets today, and what it will mean for the next 7 years.

We thank Edgar for the transparency there and in sharing the whole story. These cautionary tales reverberate around the ETA ecosystem, helping business buyers avoid pitfalls and reminding us all of the grave downsides. They are so valuable and so generously shared by their protagonists.

Here is Edgar Galindo, co-owner of Structure Landscapes.

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