221: How to Finance a Business Transition or Acquisition, David Miller

What does it take to finance a business transition or acquisition? In this episode, Laurie Barkman sits down with David Miller, Executive Vice President at Enterprise Bank, to demystify lending for business owners — from SBA loans to insider buyouts. David shares how banks assess deals, why management continuity matters most, and how entrepreneurs can become "bankable" when it's time to grow or exit. 💬 Quote from David Miller: "Don't think you can't buy a business just because you're not personally wealthy. If you have the right skillset and knowledge of the industry, there are flexible ways to make it happen." Key Takeaways: 💡 How SBA loans act as an "insurance policy" for banks — and a growth tool for small businesses. 👥 Why insider buyouts often outperform private equity or third-party acquisitions. 💰 How to match financing structures to your business goals and cash flow needs. 🏦 What "being bankable" really means — and how to build it before you need it. 🤝 Why having the right professional team (CPA, attorney, advisor) is critical in any business transition. 🎧 Tune in to Succession Stories to learn practical strategies for financing growth, buying a business, or preparing for your own successful exit.   This Show Is Sponsored by The Business Transition Sherpa®   Get your copy of The Business Transition Handbook, the Amazon best-selling book that reveals what every entrepreneur needs to know about building value and avoiding pitfalls!   ✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book   📣 Write a Podcast Review: ratethispodcast.com/successionstories  _________________________________________________________________   Connect with Laurie Barkman:  Email: [email protected] LinkedIn: in/lauriebarkman Book: Free Download YouTube: @TheBusinessTransitionSherpa  Connect with David Miller: Website: https://www.enterprisebankpgh.com/ LinkedIn: /in/david-miller-0b668386/   Special thanks to Ryan Nolf, Marketing Director, for producing this Succession Stories episode live in studio at Enterprise Marketing.