Sam Jones
@preflightco.com
Deal QB | SMB ETA | SBA Loan “Expert” | Certified M&A Professional | Iowa Hawkeye | What They Don’t Tell You About SBA Loans
Kansas City, MO
Kansas City, MO
Pinned
Sam Jones
@preflightco.com
· May 11
Introduction for those in the SMB ETA Space:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
Just asked AI to spread some financials for me, because manual spreading is the bane of my existence.
September 16, 2025 at 3:16 PM
Just asked AI to spread some financials for me, because manual spreading is the bane of my existence.
These guys have been around a while and have seen it all. The mustache is instant credibility.
August 4, 2025 at 1:52 PM
These guys have been around a while and have seen it all. The mustache is instant credibility.
We're working on his pronunciation, but can't argue with Larry here.
Print the shirts!
Print the shirts!
July 30, 2025 at 9:47 PM
We're working on his pronunciation, but can't argue with Larry here.
Print the shirts!
Print the shirts!
I'm 0/3 so far this year on SMB ETA influencers being worth a shit in real life.
July 19, 2025 at 12:48 PM
I'm 0/3 so far this year on SMB ETA influencers being worth a shit in real life.
Kids wanted a way to earn money so I offered to pay them $5 each for washing my car, and they are pumped.
They are going to be pissed when they only net $3 after I charge them for using my soap, hose, rags, and buckets.
Follow me for more parenting tips and finance education.
They are going to be pissed when they only net $3 after I charge them for using my soap, hose, rags, and buckets.
Follow me for more parenting tips and finance education.
June 28, 2025 at 3:18 PM
Kids wanted a way to earn money so I offered to pay them $5 each for washing my car, and they are pumped.
They are going to be pissed when they only net $3 after I charge them for using my soap, hose, rags, and buckets.
Follow me for more parenting tips and finance education.
They are going to be pissed when they only net $3 after I charge them for using my soap, hose, rags, and buckets.
Follow me for more parenting tips and finance education.
What They Don't Tell You About SBA Loans - Default:
We've all heard that the only way you can really tank your SBA loan is to miss a couple of payments, right? Did you know there are multiple ways, non-payment related, to be in default on 7(a) loans?
We've all heard that the only way you can really tank your SBA loan is to miss a couple of payments, right? Did you know there are multiple ways, non-payment related, to be in default on 7(a) loans?
June 3, 2025 at 11:04 PM
What They Don't Tell You About SBA Loans - Default:
We've all heard that the only way you can really tank your SBA loan is to miss a couple of payments, right? Did you know there are multiple ways, non-payment related, to be in default on 7(a) loans?
We've all heard that the only way you can really tank your SBA loan is to miss a couple of payments, right? Did you know there are multiple ways, non-payment related, to be in default on 7(a) loans?
What They Don't Tell You About SBA Loans: Commercial Security Agreements (Collateral):
We all know that the SBA allows for collateral shortfalls (air balls, blue sky, etc.), but there are some pretty specific rules to the collateral owned by the business and how it is to be managed.
We all know that the SBA allows for collateral shortfalls (air balls, blue sky, etc.), but there are some pretty specific rules to the collateral owned by the business and how it is to be managed.
May 18, 2025 at 10:22 PM
What They Don't Tell You About SBA Loans: Commercial Security Agreements (Collateral):
We all know that the SBA allows for collateral shortfalls (air balls, blue sky, etc.), but there are some pretty specific rules to the collateral owned by the business and how it is to be managed.
We all know that the SBA allows for collateral shortfalls (air balls, blue sky, etc.), but there are some pretty specific rules to the collateral owned by the business and how it is to be managed.
This week in SMB WTF:
On three separate deals this week, I’ve encountered the following:
- AI generated “QoE”
- AI generated business plan
- AI generated CIM
Last week I was sent an AI generated LOI.
If you’re using, presenting, or selling these, my advice as a lender is that you should not.
On three separate deals this week, I’ve encountered the following:
- AI generated “QoE”
- AI generated business plan
- AI generated CIM
Last week I was sent an AI generated LOI.
If you’re using, presenting, or selling these, my advice as a lender is that you should not.
May 16, 2025 at 3:46 PM
This week in SMB WTF:
On three separate deals this week, I’ve encountered the following:
- AI generated “QoE”
- AI generated business plan
- AI generated CIM
Last week I was sent an AI generated LOI.
If you’re using, presenting, or selling these, my advice as a lender is that you should not.
On three separate deals this week, I’ve encountered the following:
- AI generated “QoE”
- AI generated business plan
- AI generated CIM
Last week I was sent an AI generated LOI.
If you’re using, presenting, or selling these, my advice as a lender is that you should not.
Introduction for those in the SMB ETA Space:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
May 11, 2025 at 11:41 PM
Introduction for those in the SMB ETA Space:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
I currently manage the SBA department of a $4B credit union and have a few certifications that I'm proud of:
✅ Doing away with the “do as you do” approach for lenders to underwrite & process loans in the manner which they do non-guaranteed conventional loans.
✅ Reinstatement of 7(a) up-front guaranty fees for loans under $1mm.
✅ Reinstatement of 7(a) up-front guaranty fees for loans under $1mm.
If I were forced to predict upcoming changes to the SBA 7(a) program, here’s what I’d land on:
May 3, 2025 at 12:14 AM
✅ Doing away with the “do as you do” approach for lenders to underwrite & process loans in the manner which they do non-guaranteed conventional loans.
✅ Reinstatement of 7(a) up-front guaranty fees for loans under $1mm.
✅ Reinstatement of 7(a) up-front guaranty fees for loans under $1mm.
ETA Searchers: If you are using AI in your models, projections, and analysis - there are signs, and your lender will notice.
March 2, 2025 at 5:46 PM
ETA Searchers: If you are using AI in your models, projections, and analysis - there are signs, and your lender will notice.
Dear Administrator Loeffler,
Please revert back to publishing SOPs in PDF vs DOCX.
Thank you,
An Avid SOP Reader
Please revert back to publishing SOPs in PDF vs DOCX.
Thank you,
An Avid SOP Reader
February 28, 2025 at 1:44 PM
Dear Administrator Loeffler,
Please revert back to publishing SOPs in PDF vs DOCX.
Thank you,
An Avid SOP Reader
Please revert back to publishing SOPs in PDF vs DOCX.
Thank you,
An Avid SOP Reader
Seems especially relevant to bump this considering Administrator Loeffler's recent statements and the upcoming Senate hearing related to 7(a) policy and SBA operations as a whole.
If I were forced to predict upcoming changes to the SBA 7(a) program, here’s what I’d land on:
February 26, 2025 at 5:50 PM
Seems especially relevant to bump this considering Administrator Loeffler's recent statements and the upcoming Senate hearing related to 7(a) policy and SBA operations as a whole.
People are wondering what professions will be obsolete with the advancement of AI, but I’m sorta hoping it will replace social media influencers & podcasters that talk out their ass.
February 16, 2025 at 2:49 AM
People are wondering what professions will be obsolete with the advancement of AI, but I’m sorta hoping it will replace social media influencers & podcasters that talk out their ass.
Seeing a lot of posts on Net Working Capital and how important it is for SMB acquisitions, which I 100% agree with.
But did you know...?
#SMB #ETA #SBALoans #SBA #WorkingCapital #Acquisitions
But did you know...?
#SMB #ETA #SBALoans #SBA #WorkingCapital #Acquisitions
February 12, 2025 at 6:05 PM
Seeing a lot of posts on Net Working Capital and how important it is for SMB acquisitions, which I 100% agree with.
But did you know...?
#SMB #ETA #SBALoans #SBA #WorkingCapital #Acquisitions
But did you know...?
#SMB #ETA #SBALoans #SBA #WorkingCapital #Acquisitions
Tip for Searchers:
Write into your LOI that the seller agrees to engage competent legal counsel and tax representation.
Set the expectation early on that the realization of tax liability or overzealous attorneys are not going to kill the deal.
Thank me later.
Write into your LOI that the seller agrees to engage competent legal counsel and tax representation.
Set the expectation early on that the realization of tax liability or overzealous attorneys are not going to kill the deal.
Thank me later.
February 1, 2025 at 5:05 PM
Tip for Searchers:
Write into your LOI that the seller agrees to engage competent legal counsel and tax representation.
Set the expectation early on that the realization of tax liability or overzealous attorneys are not going to kill the deal.
Thank me later.
Write into your LOI that the seller agrees to engage competent legal counsel and tax representation.
Set the expectation early on that the realization of tax liability or overzealous attorneys are not going to kill the deal.
Thank me later.
If I were forced to predict upcoming changes to the SBA 7(a) program, here’s what I’d land on:
January 24, 2025 at 2:05 PM
If I were forced to predict upcoming changes to the SBA 7(a) program, here’s what I’d land on:
I’m not necessarily opposed to “buy a business” courses or boot camps, but if you participate in one, you might as well stamp it on your forehead.
Recently I’ve felt like Obi-Wan when he realized that Jango was the clone template & Boba wasn’t actually his son.
Recently I’ve felt like Obi-Wan when he realized that Jango was the clone template & Boba wasn’t actually his son.
January 24, 2025 at 12:39 PM
I’m not necessarily opposed to “buy a business” courses or boot camps, but if you participate in one, you might as well stamp it on your forehead.
Recently I’ve felt like Obi-Wan when he realized that Jango was the clone template & Boba wasn’t actually his son.
Recently I’ve felt like Obi-Wan when he realized that Jango was the clone template & Boba wasn’t actually his son.
Searchers: Remember that YOY increases in inventory and/or accounts receivable are not always a positive on your deal. Same with increases in fixed assets.
Always get balance sheets to match the income statements so you know much money it takes to run the business from one day to the next.
Always get balance sheets to match the income statements so you know much money it takes to run the business from one day to the next.
November 25, 2024 at 1:19 PM
Searchers: Remember that YOY increases in inventory and/or accounts receivable are not always a positive on your deal. Same with increases in fixed assets.
Always get balance sheets to match the income statements so you know much money it takes to run the business from one day to the next.
Always get balance sheets to match the income statements so you know much money it takes to run the business from one day to the next.
This Week in SMB WTF:
Broker CIM has target priced at 4x of 2024 projected earnings (also WTF), annualized off of financials through June. Its November.
Earnings are "projected" to double. Its November.
Broker CIM has target priced at 4x of 2024 projected earnings (also WTF), annualized off of financials through June. Its November.
Earnings are "projected" to double. Its November.
November 24, 2024 at 10:48 PM
This Week in SMB WTF:
Broker CIM has target priced at 4x of 2024 projected earnings (also WTF), annualized off of financials through June. Its November.
Earnings are "projected" to double. Its November.
Broker CIM has target priced at 4x of 2024 projected earnings (also WTF), annualized off of financials through June. Its November.
Earnings are "projected" to double. Its November.
What They Don't Tell You About SBA Loans - The Personal Guaranty:
The dreaded "PG" we've all heard and read about is a necessary evil. Contrary to popular belief, non-recourse lending is exceedingly rare in commercial loans, and impossible with government guaranteed lending.
The basics:
The dreaded "PG" we've all heard and read about is a necessary evil. Contrary to popular belief, non-recourse lending is exceedingly rare in commercial loans, and impossible with government guaranteed lending.
The basics:
November 17, 2024 at 3:19 PM
What They Don't Tell You About SBA Loans - The Personal Guaranty:
The dreaded "PG" we've all heard and read about is a necessary evil. Contrary to popular belief, non-recourse lending is exceedingly rare in commercial loans, and impossible with government guaranteed lending.
The basics:
The dreaded "PG" we've all heard and read about is a necessary evil. Contrary to popular belief, non-recourse lending is exceedingly rare in commercial loans, and impossible with government guaranteed lending.
The basics: