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The Banker Behind 500 Accounting Firm Acquisitions Says Buyers Get This Wrong | Shannon Hay
He has closed over 500 accounting firm acquisitions. Not 50, but 500. He knows exactly which deals fall apart and why.
Episode 87 features Shannon Hay, Senior Vice President of Commercial Lending at United Midwest Savings Bank, where he leads SBA and commercial lending for accounting and tax firms nationwide. Over 30 years in commercial lending, with stops at Bank of America and Live Oak Bank, and nearly $500 million in accounting and tax firm transactions behind him.
In this conversation Shannon explains why the SBA 7(a) program lets an existing firm owner buy another firm with no money…
The skinny
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