A strong LOI does more than state a price—it sets the tone for the entire transaction. While many buyers either overcomplicate or oversimplify this critical document, the best LOIs strike the right balance. Beyond purchase price, key elements like timing, funding, deal structure, included assets, and post-closing expectations can determine whether a deal moves forward or falls apart.

Selling a business is exciting, but it can quickly become frustrating if a deal falls apart because a buyer wasn’t truly qualified. At NorthStar, we carefully vet buyers before introductions are made to help reduce surprises, protect seller time, and improve the chances of a successful closing.

When a buyer uses SBA financing to purchase a business, lenders closely evaluate the company being acquired. Understanding these five factors can help sellers prepare their business and avoid surprises when they sell a business.

The SBA’s new lending rules are changing how business acquisitions get financed — and many deals will feel the ripple. While we’re not diving into the technical details, this piece connects the dots between policy and strategy: what business owners need to do, how the right advisor helps navigate funding challenges, and why preparation today means a stronger, smoother sale tomorrow.

The SBA has announced sweeping updates to its lending rules, effective June 1, 2025, that will impact how business acquisitions and partner buyouts are financed. From stricter borrower eligibility and lower “small loan” thresholds to new requirements for franchises, equity retention, and buyer injections, these changes reshape how deals get funded. Learn what sellers need to know to keep transactions finance-ready.

This week we're exploring the importance of having a team in place to advise on your exit! Check out what some of our 17 percenters had to say when they were asked about whether or not they had a team in place during their exit. Tom Washington We did not have a true “exit team,” but having gone through this before, I had some insight. Our buyer, luckily, had a high degree of trust in us and didn’t require any auditing or extensive records to be pulled, which certainly helped.

Is an Employee Stock Ownership Plan Right for My Business? An exploration of all of a business owner’s exit options would not be complete without considering an Employee Stock Ownership Plan, or ESOP. To be clear, an ESOP is not a perfect fit for every business. According to a March 2021 article published on the National Center for Employee Ownership, there are only 6,501 ESOPs in the US, representing only one-tenth of one percent of all US companies that employ more than on