Buying and Selling Businesses with Preferred Business Brokers Inc.

The Business of Selling a Business

In the fast-paced world of Small Business Administration (SBA) lending, partnerships can make or break a deal. For J. Snypp, Business Broker and Vice President of Preferred Business Brokers Inc., teaming up with SBA Banker, Thomas Rockwood, has been nothing short of a masterstroke. Their relationship is a testament to what happens when expertise meets ingenuity.

Snypp has a keen eye for opportunity and is determined to help businesses thrive. However, even the most skilled brokers know that navigating the complexities of SBA loans requires more than just financial knowledge – it requires the right partner.

Founded 1996, the mission of Preferred Business Brokers Inc. is to facilitate the buying and selling of private businesses. While there is a process for helping business owners sell their company, it’s also crucial to be sensitive and responsive to the many questions and concerns they face when making this decision. ‘There’s a lot of emotions that can come into play when a business owner decides to sell their business”, says Snypp. “It’s critical to make sure they understand what’s involved and to set expectations.”

Getting to the Closing Table

There are many partners involved in these transactions, such as business brokers, bankers, insurance companies, and attorneys, who help both the seller and buyer of a business. Each partner plays a crucial role in ensuring a smooth and successful deal.

Nearly a decade ago, Snypp met Rockwood at a meeting for the Georgia Association of Business Brokers (GABB). It wasn’t long before Snypp added Rockwood to his group of preferred partners. When the two joined forces, a partnership built on strategy and financial expertise was born. “When I met Thomas, it didn’t take long to realize that he’s very good at what he does. He’s knowledgeable and gets things done,” says Snypp.

Snypp and Rockwood’s partnership has been going strong ever since. In the last 10 years, they have completed 40-50 business transactions together. “J only finds deals that will work. When he can find a profitable business and a buyer who needs financing, he starts a chain reaction,” says Rockwood. 

High Speed Response and a Commitment to Excellent Customer Service

As an SBA lender, Rockwood knows that a quick response is critical to building relationships and earning repeat business with brokers. When financing opportunities come his way, his approach to customer service is to thoroughly understand the needs of the buyer and have a mindset that there will be a way to get the deal done. A transparent and open conversation with all partners is a must, and setting expectations on realistic timeframes is crucial as some financing needs can take a minimum of four weeks to get the loan approved and funded to buy a business.

At SouthState, the SBA team is actively financing loans focused on 100% change of ownership, partner buyouts or buyins, and partial change of ownership.

Being on the Same Page

Thomas says that he and J are on the same page when it comes to helping their clients transform their businesses lives. Snypp has the expertise, experience, and approach to start the process off the right way. Rockwood has the eagerness to get the buyer started with financing, even with some of the more challenging deals. “Getting a loan is a complicated process,” says Snypp. “In the last 10 years, there was only one deal that he could not finance. Even then, he didn’t stop and found another partner to help my client get the financing that was needed.”

Through the years, Snypp and Rockwood regularly see each other at GABB meetings, attend Alanta Braves games together, and play in charity golf tournaments.

“The relationship is not all about banking,” says Snypp. “He’s a father like I am. He’s just a nice guy and someone I can trust.”

SouthState helps brokerages like J. Snypp’s to provide the complete business brokerage experience to business owners. You can read more about the first steps to selling your business. To receive more information, contact an SBA lender today.