“I am seeing ads of predatory online lenders offering themselves up as alternatives to the SBA because of the shutdown. Do everything you can to bypass this option.”

“It’s easy to sympathize with the owner’s hesitation. Risking a home for a struggling business feels reckless, but here’s the uncomfortable truth: the risk is already there.”

“Get your own house in order before pursuing a deal. Lenders won’t scrutinize just the financials of the company you’re buying—they’ll also comb through your current books and tax returns.”

“Now that the rules are out, lenders will need time to study them. And then they’ll have to decide whether it makes sense to participate. If history is any guide, many lenders will take a cautious approach.”

“The loans are given to help businesses get through crisis. If new investors decide to come in before the loan is paid off, the SBA wants some money back.”

“As your business grows, your financial infrastructure must grow with it. What worked when you were doing $500,000 in revenue won’t work at $5 million.”

“Push your loan officer hard at the beginning. Ask the officer what he or she considers the most significant vulnerabilities in your application and how the institution is likely to respond to them.”