Pacific Business Sales

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New Simplified PPP Loan forgiveness form 3508S for loans under $50K. The good news is the SBA just released new loan forgiveness rules for PPP loans under $50K. It's not the automatic forgiveness that was discussed, but it is simplified and relaxes a couple of rules. You don't have to show the math, BUT the SBA has the right to check it and ask for details. It's better than before, but not what was promised. See @forbes article for more. https://buff.ly/3iLczf0 #PPP #Loanforgivness

PPP Forgivness still not happening. Some banks started processing PPP loan forgiveness applications, BUT the SBA has not approved any loans for forgiveness as of yet. There is still much confusion at the banks and SBA as to how to process loan forgiveness applications and as a result PPP loan forgiveness is at a standstill. Both the SBA and banks are hoping for the 150K forgiveness with a simple affidavit which is stuck in Congress. But a new wrinkly has emerged where businesses that also took EIDL loans may have the loan forgiveness taken off that loan. Bottom line, neither the bank nor the SBA have a clue what's going on or what to do... https://buff.ly/36e93an #PPP #PPPloanforgiveness

Banks are starting to accept PPP Loan Forgiveness Applications. Should you apply now or wait? There's no simple answer to this, it depends on your situation. Congress may still pass the $150K forgiveness by affidavit (no financials reqd), so if your loan is less than $150K it's probably worth waiting for. Likewise, there is a decision to make on whether to select the 8 or 24 week period for payroll. Bottom line... don't rush off to file this before you consider your best options to make sure you get 100% loan forgiveness. Read full @Forbes article below

Just Listed! Industrial Electrical Power Contractor, LA County. High profit margin, steady growth, excellent books and records plus SBA financing! Industrial Electrical Systems & Controls Contractor specializing in installation of large plant and factory power distribution systems, electrical panels is available for acquisition. $1.5M Sales, $464,612 DE, $140,879 Down Payment with SBA qualified buyer. Offered at $1,260,000 Established in 1988 the company’s clientele inclu...des large Los Angeles manufacturing, industrial, data centers, commercial cold storage, and other larger commercial companies. The company does not offer any residential services or new home construction. Summary: * $1,497,508 sales 2019 (tax returns) * $1.8 million projected 2020 based on year to date thru July * $464,612 Discretionary Earnings (2019 tax return) * Offered at $1,260,000 + A/R * SBA financing available for qualified buyer * Seller Note $120,000 * $140,879 down payment with SBA Financing * $282,484 Net After Debt Service with SBA financing * Excellent books and records, minimal add backs The company is well known for its expertise in the design and installation of large factory electrical power systems which often are several Megawatts. The company also designs, builds and installs UL power distribution panels for industrial use. The company has an excellent track record of steady/consistent revenue and earnings over the course of many years. Growth has been capped by the owner’s preference to keep the company small and easy to run for his personal lifestyle. The company selectively takes projects and there is abundant opportunity to expand by accepting more projects, and by expanding beyond LA County, and hiring additional staff. The company does not have an active marketing program, the current customer base and referrals have consistently kept the firm busy with sufficient backlog. Services: * Power Distribution Systems up to several Megawatts * Power Stations * Electrical Panels from several hundred amps to Megawatts * UL Power Panels * Power Systems Engineering and Design * Tenant Improvements for factories/plants

New Business for Sale, Industrial Electrical Contractor

New Orange County Business for Sale

IMPORTANT PPP UPDATE: new guidance & changes from SBA on PPP forgiveness. Bottom line is it is best to spend all of your PPP funds on payroll to assure forgiveness. Some expenses are being limited, also owner's 8 week wages are capped at $20,833 or 20.83% whichever is less, higher if you chose the longer period. Details in @forbes article https://buff.ly/34zABpL #PPP

Just listed! OC Marketing Agency working with major brands. This is a business you would love owning! The company is a marketing agency serving well known major brands with a staff of eight talented employees responsible for design, account management, logistics, and project management. Offered at $750,000, DE on track for $277,460 in 2020.

Latest PPP Forgiveness FAQs from SBA: Still no answers on automatic forgiveness for PPP loans under $150K, waiting on Congress! But new info self employed can use 2 page 3508EZ application & scanned copies are OK. New info on payroll cycles & calculating compensation eligible. See more @forbes article https://buff.ly/31Aupuy #PPPforgivness #PPP

UPDATED SBA PPP FAQs, August 4th: revisions on Owner's comp loan forgiveness - now $20K or 21% max whichever is less for 10 week period or $15K or 15% if 8 week period, plus health insurance changes. See @forbes article for details https://buff.ly/33tZF0U #PPP #PPPforgiveness

New Orange County Businesses for Sale

How to Sell Your Business with SBA financing. SBA financing offers excellent financing for Buyers and maximum cash at closing for Sellers. SBA financing is up 90% of the transaction value, 10 years at 6.0%, just 10% down for qualified buyers. SBA financing minimizes or sometimes eliminates seller notes. https://buff.ly/2VyeECp #smallbusiness #entreprenuer