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We meet interesting clients in a range of industries and we have the privilege of teaming up with them on transactions in which we often employ financial tools that not only meet our clients' needs but also happen to be mentally stimulating and reminders of why we love this industry. As we come across novel ideas or develop market intelligence in areas that may be beneficial to our clients we will occasionally share our thoughts on these with you. We may also highlight new research findings, market trends or simply convey our views on certain topics. We hope you find these "conversations" to be helpful and we look forward to speaking to you in person.

Buying Out a Partner? New Small Business Administration Lending Rules Can Help

A technical change in SBA policy makes it easier to buy out a partner. The U.S. Small Business Administration has fixed a rule that was threatening to make it difficult to finance partnership buyout transactions using SBA-backed loans. At the start of 2018, the SBA adopted the rule, Standard Operating Procedures 50 10 5(J), that stated that in order to qualify for a loan to buy out a partner's interest in the business, the balance sheet must have a minimum equity position after the sale equal to at least 10 percent of the firm's total assets. It's worth understanding the fix given that the old rule created confusion in the marketplace. And partnership buyouts are already complicated and diff

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