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Acquiring Minds

How 1 SBA Loan Brought Down 2 Businesses

Thursday · 1 hr 34 min · 90.9 MB
0:00-1:34:37

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Edgar Galindo and his partner bought 2 businesses with SBA loans. Now he's facing the consequences of shuttering both.

Topics in Edgar’s interview:

  • Construction background in his family business
  • “Google-funded search”
  • Wanted flexibility to start a family
  • Austin-only geographic search 
  • Found partner through Searchfunder
  • First deal: Austin landscaping company
  • Buying a second business within 6 months
  • Making quick changes to the business
  • Undisclosed liabilities and customer-stealing employees
  • Closing both businesses and facing bankruptcy

References and how to contact Edgar:

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

Get complimentary due diligence on your acquisition's insurance & benefits program:

Download the New CEO’s Guide to Human Resources from Aspen HR:

Connect with Acquiring Minds:

Edited by Anton Rohozov and produced by Pam Cameron