Help borrowers retire on their terms
Abstract: Selling a small business is a complicated undertaking — especially if the seller has no prior experience doing so. This article offers suggestions on how a lender can help a borrower prepare for a business sale and retirement, including determining the best retirement date and helping evaluate potential buyers. It notes that providing assistance in a business transition can position the lender’s institution as an invaluable resource for the seller — and eventual buyer. A sidebar lists questions that a borrower facing retirement should ask.