30 Jul Acquiring Minds: How 1 SBA Loan Brought Down 2 Businesses
Regular listeners of Acquiring Minds have heard tough stories about SBA-financed acquisitions that ended in failure and personal bankruptcy. Today’s may be even tougher, with two businesses lost.Edgar Galindo and partner Matias bought an Austin landscaping company with an SBA loan. Six months later they acquired a complementary Dallas business, but it quickly unraveled due to hidden liabilities, employee misconduct, and legal trouble.When Dallas failed, its debt fell onto the Austin company, leaving it overleveraged with two SBA loans. The partners ultimately shut that down too.Edgar shares the full story, including the financial realities of his personal bankruptcy and its 7-year impact. His candid account serves as a cautionary tale for future business buyers.Here is Edgar Galindo of Structure Landscapes.
