The recent changes to the SBA lending program can be difficult for buyers and sellers to follow, and today on Transaction Talk, we welcome Senior Relationship Manager at Webster Bank, Kathleen Kelly, to discuss what they should know regarding the new market update. Tuning in, you'll hear Kathleen share some of the most significant changes to the SBA lending program buyers need to note, how these new requirements will affect sales, and more! We delve into why Kathleen is so excited about the new requirements allowing for true-ups before discussing what changes for businesses that have real estate. We even touch on some of the other changes, such as how long a seller stays on as a consultant, debt changes, and more! Finally, Kathleen leaves listeners with a tip of the day! Thanks for tuning in!

Key Points From This Episode:

• Welcoming Kathleen Kelly of Webster Bank to the show.
• A discussion about the most significant change to the SBA lending program, effective 10/1.
• Why she thinks some of these new requirements will make closing take longer.
• How the equity injection component has changed with the new requirements.
• Why Kathleen is excited about the new allowance of true-ups in working capital.
• An explanation of the changes that will affect businesses that have real estate.
• A breakdown of some of the other recent changes to the lending program.
• Kathleen shares a major takeaway for listeners regarding all this information.

Tip of the Day: When selling a business, make sure you file your taxes in advance to avoid holdup in closing, and if there is uncertainty about revenue, use a clawback provision seller note!

Links Mentioned in Today's Episode:

Kathleen Kelly on LinkedIn

Kathleen Kelly Phone Number

Kathleen Kelly Email Address
Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

An unexpected offer can feel flattering and urgent, but a direct approach doesn't eliminate the need for a disciplined sales process. In this episode of Transaction Talk, Jennifer Fox and Eric Sigman examine the warning signs business owners should watch for when a potential buyer appears without an intermediary. They explain why confidentiality must come before disclosure, how a single offer can distort value expectations, and why you need to verify a buyer's identity, funding, and intentions. They also cover rushed timelines, unusual fee requests, informal insider deals, and the role professional advisors play in keeping negotiations objective. Tune in to learn how to attract a potential buyer while safeguarding your business's protections, leverage, and options.

Key Points From This Episode:

• Discover why verifying a buyer's identity and intentions matters before sharing information.
• Uncover why a nondisclosure agreement is vital before confidential discussions begin.
• Learn why a structured disclosure process helps owners protect sensitive information.
• Understand why no competition makes it harder to know a buyer's price is accurate.
• Find out why verifying funding and credibility prevents wasted time and resources.
• Unpack why rushing the process, skipping steps, or bypassing due diligence are red flags.
• Learn how unusual fee demands or no online presence signals an unreliable buyer.
• Explore how intermediaries manage communication and provide objectivity.
• Consider why employee, family, and friend deals must still follow the formalities.
• Learn how to connect with a direct buyer while maintaining leverage and options.

Tip of the Day: Talk to your advisors, verify the buyer, and protect confidential information before sharing or negotiating anything.

Links Mentioned in Today's Episode:

Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

How can a business successfully expand through franchising? Franchise Consultant Mike Martuza draws on more than 20 years of industry experience to explore franchising from the franchisor's perspective. We unpack the foundations of a successful franchise model: building systems that can be replicated, ensuring the business is profitable, and clearly defining what sets it apart. Mike also explains why franchising isn't right for every business, how managing franchisees differs from running a business yourself, and what to consider before making the decision to franchise. Once franchising is on the table, we look at how to shape the opportunity for growth, from regional to national expansion, and how to make informed decisions about what your franchise model should look like.

Key Points From This Episode:

• Mike's background and how he developed his expertise in franchising.
• What his clients have in common: they are systemizable.
• Factors that determine franchise-readiness.
• Ways to grow: franchising or opening more locations.
• What franchisees buy into.
• How to select appropriate franchisees.
• Franchising pitfalls to avoid.
• Building a team to support you as you franchise.

Tip of the Day: If you're thinking about expanding your business, be open to franchising as an option, but don't do anything until you have assembled or talked to a team of experts.

Links Mentioned in Today's Episode:

Mike Martuza

Mike Martuza on LinkedIn

Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.