221: How to Finance a Business Transition or Acquisition, David Miller
Description
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.
✨📖 Get your FREE digital copy of The Business Transition Handbook: btsherpa.com/book
📣 Write a Podcast Review: ratethispodcast.com/successionstories
_________________________________________________________________Connect with David Miller:
Special thanks to Ryan Nolf, Marketing Director, for producing this Succession Stories episode live in studio at Enterprise Marketing.
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