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Buying and Selling a Law Firm with the SBA Pre-Qualification Process
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In this episode, host Victoria Collier sits down with special guest, Steve Piatkowski from Live Oak Bank. Together, they explore the intricacies of financing law firm acquisitions, while shedding light on the various challenges and opportunities in the process.
Key Takeaways:
• Challenges in Law Firm Acquisitions: The podcast highlights some common challenges in law firm acquisitions, such as owners unwilling to personally guarantee loans and unethical behavior from sellers, like breaching non-compete agreements. • Smooth vs. Troublesome Transactions: The conversation contrasts examples of smooth and troublesome transactions. • Emphasis on Expertise and Resources: The podcast emphasizes the significance of expertise and resources in facilitating successful law firm acquisitions. Whether it's specialized financing solutions from Live Oak Bank or guidance from legal experts like those at Quid Pro Quo Law, leveraging professional support can mitigate risks and streamline the acquisition journey for both buyers and sellers.
More About Our Guest
Steve joined the bank in 2019 as a business analyst for the wine and craft beverage team. In August 2021, he became an underwriter for the professional services teams. After underwriting for a year, he continued his focus on the professional services teams as a loan officer, where he supports the lending team and Live Oak's customers.
Originally from New Jersey, Steve graduated from the University of North Carolina Greensboro with a degree in communication studies. In his spare time, Steve enjoys being as active as possible and spending time with his wife and daughter.
Connect With Live Oak Bank - what we offer, how we are different, and why we are the best at what we do. https://www.liveoakbank.com/
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