Ray Boreham
Atlanta,#2REBUTTAL Owner of company
Wed, May 25, 2011
Considering the language and personal abusive attacks on myself I dont feel that a reply to these claims is warranted. However, for the record, for anyone exposed to Bruces statements please understand:
He did make an offer with a check for a partial down payment subject to proof of funds for the full purchase price of the business. He then advised he intended to purchase this company with a total equity injection of only 4.37%. This was not acceptable and his offer was rejected by the seller. Bruce, mistakenly thought he could get an SBA loan with less than a 5% down payment and that defintely falls outside the SBA guidelines. We facilitate numerous SBA loans for business acquisitions and are very familiar with the SBA policy guidleines as an integral part of our professional service. When advised that his offer was not acceptable he became abusive, accused me of racism and violated the NDA and went behind my back to deal with the seller directly and suggested they could do a deal and eliminate the broker commission. Fortunately the seller is a man of integrity and kept me informed of this attempted activity by Bruce. There is more to this story but he was simply not a qualified or a desirable buyer for this acquisition and thats all I intend to say and will not address this issue any further.