Pick by what already exists. If you still need the company, the PPM and the plan you raise on, that is Build. If your company and PPM already exist and the raise needs to get in front of investors, that is Connect. Build Pro runs both at once: Build Standard plus Connect Basic. The strategy call confirms fit and scope before you commit.¹

• Build Basic covers one raise. Build Standard adds institutional-grade structuring and a dedicated advisory team, and can switch into ads at any time.
• Connect Basic is for a single deal. Connect Standard is for a larger single deal, with the data room built for you. Connect Pro is for a multi-deal or fund raise, with a dedicated capital markets lead.
• Every Build and Connect program starts with a strategy call. We confirm fit, scope your raise, and map the fastest path to capital before you commit.

Build sets up the company, the legal documents and the plan you raise on: the vehicle and its exemption, the PPM, the subscription agreement, the operating agreement, CFA-built proformas, the data room, and a pitch deck with an executive summary. Build Basic includes legal entity setup with paralegal review, two financial proformas a month and the CRM.^{1, 4, 25, 27}

• Build Basic: one active raise (syndication, fund or SPV), LP or LLC formation at $800 per entity per year, legal entity setup with paralegal review, two financial proformas a month, limited one-on-one advisory, compliance-ready legal documents and a unified inbox CRM.
• Build Standard adds institutional-grade structuring, a dedicated advisory team, enhanced investor relations, white-glove onboarding, custom financial modeling and unlimited one-on-one support.
• Build Pro runs Connect Basic alongside the build from day one.

Connect is for a raise whose company and PPM already exist. Our team runs the investor outreach, not you, and makes debt and equity introductions matched to your deal, with campaign reach sized to the raise. Connect Standard adds a data room built and maintained for you and weekly deal-team working sessions. Connect Pro adds a dedicated capital markets lead.^{1, 2}

• Connect Basic is sized for a single deal, Connect Standard for a larger single deal and Connect Pro for a multi-deal or fund raise.
• Connect Pro also includes priority capital introductions.
• Each Connect plan carries a platform ad budget minimum, paid to the platforms and separate from our fee.

We draft the pitch deck, the financial proforma, the private placement memorandum, the subscription agreement, the entity formation documents and the operating agreement, each matched to your deal structure and jurisdiction. Redacted examples from past engagements are published on our FAQ page, including a PPM, pitch deck slides, a proforma and a sample subscription agreement.^{25, 27}

• The PPM discloses the risk factors, use of proceeds, subscription terms and regulatory disclosures.
• The subscription agreement is the investor's commitment: representations, warranties, power of attorney and payment instructions.
• The operating agreement separates your voting and control interests from investor units, and writes the waterfall.

Documents are drafted compliance-ready and reviewed by paralegals. Raises.com is not a provider of legal services, so counsel you choose can review everything we build, and many clients do exactly that. If you want one, you can be introduced directly to a legal professional through the platform on request.^{4, 7, 27}

• Structures are built around established SEC exemptions, most commonly Regulation D 506(b) and 506(c).
• Your own securities attorney is welcome on every document we produce.

The raise itself. On Build Basic, the monthly fee covers one active raise, two financial proformas a month, limited one-on-one advisory and the CRM. On Connect, it pays for investor outreach run by our team and debt and equity introductions matched to your deal. After any minimum, either side can end the plan at the end of a paid period.^{1, 4}

• Build Standard moves to unlimited one-on-one support, with a dedicated advisory team and custom financial modeling.
• Connect Standard adds weekly deal-team working sessions and a data room built and maintained for you.

The entity and core structure can be ready in as little as two weeks. A complete raise-ready package, meaning the PPM, the subscription and operating agreements, CFA-built proformas and the data room, typically comes together in four to six weeks. The biggest variable is how quickly you turn around your inputs.^{5, 40}

• Entities can stand up in days to two weeks.
• When a purchase agreement carries a hard date, the work is sequenced backward from it: the SPV exists first so it can sign, and documents run on an expedited track.

Plan on about seven months from the day you decide to raise to the day the money is in the bank. Cody Sechelski signed his LOI on December 4, 2025, and his wire left on June 29, 2026. How long your raise takes depends on your deal, your network and the market, and a packaged deal moves faster at every step.^{5, 6, 28, 37, 38}

• On Cody's deal, 25 capital providers were run in parallel off one data room. 24 said no and one funded.
• One lender quoted three weeks to close and took two months, and the seller waited.
• Some steps run on fixed clocks no one can compress, such as lender diligence and investor verification.

It depends on three things: your deal, your network and the market. A deal with its structure, documents and data room already built moves faster at every step. Some parts run on fixed clocks no one can compress, like lender diligence and investor verification. As a planning number, expect about seven months from deciding to raise to money in the bank.^{5, 6, 27, 28, 38}

• The entity and core structure can be ready in as little as two weeks, and a complete raise-ready package typically takes four to six weeks.
• A letter of intent opens a 40 to 50 day diligence period. Sign the LOI first and source the capital in the window it buys you.

Tell us the date on day one and the work is sequenced backward from it. Entities can be formed in days, documents can run on an expedited track, and the SPV can be ready to sign when your purchase agreement needs a buyer. Some parts run on fixed clocks, like lender diligence and investor verification, and no one can compress those.^{6, 15}

• When a deal is live, the SPV usually forms first so it can sign the purchase agreement and receive funds, with the holding company formed in parallel.
• The difference is working backward from your real date instead of a generic timeline.

Timelines slip, and that is normal. On Cody Sechelski's deal, a lender that quoted three weeks to close took two months, and the seller waited because the structure held. Between a term sheet and the wire sit the lender's diligence, the quality of earnings, the working capital peg and often a site visit.^{27, 28, 37}

• A term sheet is not money. Plan around the steps that follow it.
• Diligence staged before any lender asks keeps the file moving: profit and loss, balance sheet, bank statements and fixed-asset schedules, assembled in advance.

On the Connect track, our team runs the investor outreach for you, with campaign reach and a platform ad budget sized to your raise, and makes debt and equity introductions matched to your deal. Your exemption decides how public that can be: 506(b) runs on existing relationships with no advertising, and 506(c) allows public marketing to verified accredited investors.^{1, 10, 38, 39, 43}

• Introductions start once the structure and materials are ready. An unpackaged deal burns introductions, and a packaged one converts them.
• Family offices read mandate first: asset class, check size, geography and structure.
• Investor relationships are built through brokers and intro to intro, moving toward the people with closed deals.

After the package is built. The work is sequenced so introductions land: first the structure and the materials that make investors able to say yes, then the introductions. An unpackaged deal burns introductions, and a packaged one converts them. A data room that exists on day one turns interest into diligence the same week.^{10, 27, 46}

• The package means the vehicle and its exemption, the offering documents, CFA proformas, the data room and a pitch deck with an executive summary.
• Lenders run in parallel off one data room, one one-page summary and one structure.

Introductions are matched to your deal on both the debt and the equity side. Debt can come from a bank, an SBA lender or a private credit group. Equity can come from high-net-worth investors, family offices, institutional equity or one co-GP partner, depending on what the stack needs. Family offices read mandate first: asset class, check size, geography and structure.^{10, 27, 43}

• High-net-worth investors are faster and often anchor the first close. Family offices are patient, relationship-driven and diligence-heavy.
• The seller is often part of the stack too, through a note, rollover or an earn-out.

Only if your offering allows it. Under 506(b) you cannot advertise the offering publicly. Under 506(c) you can market it publicly, on LinkedIn or anywhere, but every investor must be accredited and you must take reasonable steps to verify it. Posting a deal publicly the wrong way can get you fined or sued.^{8, 27, 38, 39}

• Choose the exemption once, at structure time, because switching mid-raise means rebuilding the documents.
• 506(b) still allows up to 35 sophisticated non-accredited investors, which is why friends-and-family capital usually lives there.

It depends on the investor and their mandate. Our capital raising guide gives typical ranges: $25,000 to $250,000 from high-net-worth individuals, who invest on personal trust, and $500,000 to $10 million from family offices, which often want a track record or to co-invest with you. Institutional checks of $10 million and up usually need an audited track record.^{43, 47}

• Ranges vary widely by office and mandate, which is why introductions are matched to your minimums and structure.
• A first raise usually comes from people who already know you and trust you with their money.

Two years of monthly financials, six months of bank statements, two years of tax returns and personal financial statements, on both you and the target. Lenders want debt service coverage above 1.0 with a buffer around 1.15, and they look for 10 to 20% of the ask in sponsor net worth or liquidity. We stage that file before any lender asks.^{27, 28, 36}

• Your personal financial statement and tax returns come from you, because they are yours to complete and yours to sign.
• On Cody Sechelski's deal, a fixed-asset entry typed at ten times its real value was caught before any lender saw it.

A single live acquisition usually wants an SPV that can sign the purchase agreement and receive investor capital, with a holding company formed in parallel as your control layer. A repeatable strategy, with several deals and one investor base, points to a fund. Entity type and jurisdiction are chosen deal by deal, for US, Canadian and cross-border stacks.^{15, 16, 40}

• When a deal is live, the SPV usually forms first so it can sign and receive funds.
• A common setup is a limited partnership with a general partner, or a one-off SPV built for your situation in the correct country.

Choose by where the money is coming from. 506(b) covers investors you already know, including up to 35 sophisticated non-accredited investors, with no public advertising. 506(c) lets you advertise, but every investor must be accredited and verified. Pick once, at structure time, because switching mid-raise means rebuilding the documents.^{8, 9, 27, 39}

• Friends-and-family capital usually lives under 506(b). Sponsors whose capital comes from outreach rather than an existing book usually need 506(c).
• Either way it is a securities offering. Filings such as Form D are triggered around the offering launch and first close.

Structures are built around established SEC exemptions, most commonly Regulation D 506(b) and 506(c). Documents are drafted compliance-ready and reviewed by paralegals, and your own securities attorney is welcome to review every one. Raises.com is not a provider of legal services. Raising money without a compliant vehicle creates personal exposure that does not expire.^{4, 7, 9, 23}

• If people give you money expecting profit from your efforts, plan on it being a security. Raising from accredited investors only means you are using a specific exemption path.
• Whether you need a license of your own depends on your country and offering type.

You need one when outside investors put money into the deal. A private placement memorandum is the disclosure document investors read before they commit: risk factors, use of proceeds, subscription terms and regulatory disclosures. Raising from investors is a securities offering with rules of its own. A purchase funded only by your cash, a lender and the seller has no investors to disclose to.^{11, 25, 27, 45}

• A securities attorney typically drafts a PPM alone for $15,000 to $40,000. Here it comes inside the complete raise package, and your counsel can review every page.
• The PPM works with the subscription agreement, which is the investor's commitment, and the operating agreement, which governs the vehicle.

Yes, through the class structure. A standard private structure separates your voting and control interests from investor units with defined economics, such as a preferred return and repayment terms. The classes are written into the operating agreement and disclosed in the PPM, so investors know exactly what they hold and you keep control of the deal.^{17, 18}

• Distributions follow the waterfall in the operating agreement: debt service, then the investor preferred return, then the agreed splits.
• Tax treatment depends on your entity types and jurisdiction. Raises.com is not a tax advisor, so the structure is designed alongside your CPA.

It is a working session on your deal. We map your asset, timeline and capital stack, walk through the structure options, such as fund or SPV and which exemption, and identify the gaps between where you are and a closeable raise. If the fit is not there, we tell you directly. One of our advisors runs the call.^{14, 27}

• We read the deal as it stands: price, cash flow, your cash, where the LOI is and what the seller will carry. The stack gets mapped and the one constraint gets named.
• What you see: the structure we would build for the deal, and what it takes.

Nothing. Bring the deal as it stands, whether that is a signed LOI, a target or a seller conversation. Wherever the deal is, that is where the strategy call starts. Later, your personal financial statement and tax returns come from you, because they are yours to complete and yours to sign.^{27, 48}

• If you want to see the math first, Raises.com AI builds a free 90-day capital raise plan from one message about your deal.
• Later, lenders will ask for two years of monthly financials, six months of bank statements, two years of tax returns and personal financial statements.

No. Every Build and Connect program starts with a complimentary strategy call. We confirm fit, scope your raise and map the path to capital before you commit. All pricing is subject to that assessment of your specific raise, and every published price is shown on the booking page before you choose a time.^{1, 3, 14}

• If the fit is not there, we tell you directly.
• Build plans start at $3,920 the first month, then $1,960 a month. Connect plans start at $2,499 a month.

Seven steps, in this order: the strategy call, the structure set, the package built, diligence staged, the capital process, term sheet to wire, and the refinance after close. Structure comes before the raise, diligence before the lender asks, and lenders run in parallel rather than one at a time. You sign every closing document yourself.²⁷

• One of our advisors runs the strategy call. Tre Brown, Head of Capital Markets, and his team run the structure, the data room and the lender and investor process through to the wire.
• Paralegals review the offering documents, and a CFA charterholder builds or reviews the proformas.

Yes. Raises.com AI builds a free 90-day capital raise plan from one message about your deal: the stack, the one constraint and a 12-week sequence. It takes about two minutes to answer, and the plan is shown on screen and sent to you by email and text. If you want, an advisor can then implement it with you.^{27, 48}

• Specific in, specific out: a price, cash flow, your own cash and the stage give a plan that names the exact lever and the exact number.
• It is a planning document built on stated assumptions. Lenders, counsel and your own advisors set the real terms.

Raises.com has two tracks. Build sets up your company and PPM, from $3,920 the first month, then $1,960 a month. Connect puts your raise in front of investors, from $2,499 a month. Build plans have a three-month minimum, then run month to month, and Connect plans are month to month. Every price is shown on the booking page before you book.^{1, 2, 3}

• Build Basic is $3,920 the first month, then $1,960 a month. Build Standard is $4,998, then $2,499 a month. Build Pro is $7,497, then $4,998 a month.
• Connect Basic is $2,499 a month, Connect Standard $3,999 a month and Connect Pro $8,789 a month. Each Connect plan also has a platform ad budget minimum, paid to the platforms and separate from our fee.
• All pricing is subject to a strategy call assessment based on your specific raise.
• Pricing is disclosed on the booking page before you choose a time, so nothing is quoted after the fact.

No. On Connect plans and Build Pro, the ad budget is the platforms' money, paid directly to the platforms and separate from our fee. Each plan states its minimum: $2,500 a month on Connect Basic and Build Pro, $20,000 on Connect Standard and $50,000 on Connect Pro. Build Basic and Build Standard need no ad budget.^{1, 2}

• Build Standard can switch its monthly fee into Connect Basic at any time, for the same fee. The $2,500 a month ad budget minimum starts only once you switch.
• Our fee is the flat plan fee. By default there is no success fee and no percentage of what you raise.

Two kinds, both shown up front. Add-ons are itemized on your order before anything is billed: a fund or SPV entity is $800 per entity per year, for formation and filing, and a white label licence for firms that resell under their own brand is $2,000 then $400 a month. Connect plans and Build Pro also carry a platform ad budget, paid to the platforms.^{1, 2}

• The ad budget minimum is $2,500 a month on Connect Basic and Build Pro. The CRM is included in every plan at no extra charge.
• By default there is no success fee, no percentage of what you raise and no carry on your deal.

You can, and your attorney can review everything we produce. A securities attorney typically drafts offering documents for $15,000 to $40,000 and stops there. You would still need the financial model, the data room, the pitch materials, the raise strategy and the introductions. We deliver the documents plus all of that as one integrated build.^{4, 11, 45}

• The work is a complement to your counsel, not a replacement. Documents are drafted compliance-ready so your attorney can review efficiently instead of drafting from zero.
• Raises.com is not a provider of legal services.

By default, no. Raises.com charges a flat fee by published plan rather than a cut of proceeds. There is no success fee, no percentage of capital raised and no carry on your deal, so you keep 100 percent of what you raise. Add-ons such as entity formation are itemized on your order before they are billed.^{1, 2, 40}

• Build plans start at $3,920 the first month, then $1,960 a month. Connect plans start at $2,499 a month.
• The ad budget on Connect plans is paid to the ad platforms, separate from our fee.

From the plan fee. You pay a flat monthly fee for the track you choose, Build or Connect, plus any itemized add-ons, such as an SPV or fund entity at $800 per entity per year. The ad budget on Connect plans goes to the ad platforms, not to us. The CRM is included in every plan at no extra charge.^{1, 2, 3}

• Every plan and price is disclosed on the booking page before you choose a time, so nothing is quoted after the fact.
• All pricing is subject to a strategy call assessment based on your specific raise.

Build plans have a three-month minimum, paid in full, and then continue month to month. Connect plans are month to month from the first month. After any minimum, either side can cancel, and cancellation takes effect at the end of the period already paid for, with no further charges.^{2, 4}

• The same cancellation right applies to both sides on the same terms.
• The version of the terms you sign governs your whole term. A revised version applies only from your next renewal period, never retroactively.

Cancellation takes effect at the end of the period you have already paid for. We finish delivering the services for the rest of that period, no further amounts are charged, and the agreement ends. On a Build plan, the three-month minimum runs to its end first. Connect plans are month to month from the start.^{4, 21}

• Notice is given in writing, as the terms of service set out.
• After the engagement, you own the system and the assets built for you.

You do not keep paying forever. After the minimum on a Build plan, the agreement runs month to month, and either side can end it at the end of a paid period. There are no mandatory renewals, and the goal is for you to own the system and the assets you build. Entity formation is billed at $800 per entity per year.^{2, 4, 21}

• Connect plans are month to month from the first month.
• You do not need to depend on Raises.com after the engagement. The aim is your own capital-raising machine.

Yes. Our case studies document closed deals, many in the client's own words. Cody Sechelski bought a Texas HVAC company at a $2,660,000 enterprise value, and the wire left on June 29, 2026. Ade closed a 44-unit multifamily, then a car wash, on the same framework. Henry Iwunze closed his first acquisition, then opened two more.^{26, 27, 28, 31, 33}

• Cody's deal went to 25 capital providers in parallel. 24 said no and one funded.
• When two committed investors pulled out of Ade's multifamily raise, his data room and legal package were already complete, so he went straight to new capital partners and closed.

Start with the recorded interviews. Cody Sechelski walks through his acquisition on video, recorded on location in Navasota, Texas, after the close, and Abdiel Louis does the same for his move from deal-by-deal syndication to a fund platform. Every quotation in those case studies comes from the recording. Ask about the case closest to your deal on the strategy call.^{28, 30, 37}

• Cody's case study covers the lender process, the restructure three weeks before the wire and the refinance that followed.
• Abdiel's case study separates the track record he earned before the engagement from what changed after it.

Check what is on the record. Raises.com was founded in 2019 and publishes its prices, its terms of service and its case studies, including recorded client interviews. It is a consultancy and advisory firm, not a registered broker-dealer, and it holds a debt license, NMLS ID 2578088. Pricing is disclosed on the booking page before you choose a time.^{1, 3, 4, 7, 23, 28}

• The firm's published standard: every figure, structure and claim put before a buyer, a lender or an investor is traced to its source before it is sent.
• Your own securities attorney is welcome to review every document we produce.

Yes. Ade went from zero funded deals to two closed acquisitions: a 44-unit multifamily and a car wash. Henry Iwunze closed his first acquisition, Integrity Health Group, and then opened two more. Cody Sechelski spent more than a decade in Texas construction before his first acquisition. Each case study shows what was built and in what order.^{26, 27, 28, 31, 33}

• Ade's lesson: build the full package before the raise, not during it.
• Cody's first deal is now the first acquisition of his Gulf Coast trades roll-up.

Raises.com is a consultancy and advisory firm, founded in 2019, for people buying a business or a building. We build the fund or SPV structure, the offering documents, the financial model and the data room, then introduce debt and equity sources. Raises.com is not a registered broker-dealer and not a provider of legal services.^{1, 3, 4}

• The work is done by the firm, prepared to the standard of the institutions that will read it.
• Every program starts with a strategy call that confirms fit before you commit.

Ken, one of our advisors, runs the strategy call. Tre Brown, Head of Capital Markets, and his team run everything from structure to wire: the vehicle, the data room, the lender and investor process, the term sheet and closing coordination. Paralegals review the offering documents, and a CFA charterholder builds or reviews the financial proformas.^{27, 28}

• You make every decision, provide your own financial statements, and sign every document by your own hand.
• After close, Tre Brown takes the refinance request out to banks and term lenders.

It is for people buying a business or a building who need to raise or structure capital for the purchase: independent sponsors, acquisition entrepreneurs, syndicators, search funds, roll-ups and fund managers acquiring hard assets. It is not a fit for startup founders raising venture capital for their own product, passive investors looking for deals, or service providers.^{3, 13}

• If you are acquiring a cash-flowing asset and the capital side is the blocker, this is built for you.
• We serve real estate syndicators in multifamily, self-storage, commercial and hospitality.

The firm does the work. The offering memorandum, subscription agreement, operating agreement, financial model and data room are prepared to the standard of the institutions that will read them, and introductions are written for one reader and one mandate. Two things stay with you by rule: your own signature and your own financial disclosures.^{1, 3, 27}

• Nobody on our side signs or pre-signs anything for you.
• On Connect plans, investor outreach is run by our team, not by you.

No. Nobody can legally guarantee that investors will wire money, and lenders set their own terms. What we build is the structure lenders and investors need before they can say yes: the vehicle, the offering documents, the CFA proformas and the data room. Raises.com is a consultancy and advisory firm, not a registered broker-dealer.^{1, 4, 27}

• On the strategy call, the stack gets mapped and the one constraint gets named before you commit.
• Raises.com is not a provider of legal services, and nothing on these pages is a promise of financing, investors or outcomes.

You go to the next capital partner, and how fast depends on the package. When two committed investors pulled out of Ade's 44-unit multifamily raise, his data room and legal package were already complete, so he went straight to new capital partners and closed on March 17. Build the full package before the raise, not during it.^{27, 31}

• When a party walks, a complete data room lets you go straight to the next one.
• Ade's second close, a profitable car wash, ran on the same framework.

Keep going, and run lenders in parallel rather than one at a time. Cody Sechelski's deal went to 25 capital providers off one data room and one structure. 24 said no and one funded. Ask every no for its underwriting reason, because the sponsor who quits after the third bank never finds out the fourth had a structure that worked.^{27, 28, 29}

• A no often has a specific reason. One lender's board held off twice on Daniel Ghebreyohannes's deal because net income sat under its $250,000 minimum.
• When bank debt and the seller layers do not reach the price, private credit can sit behind the senior lender.

Then the framework matters more than the deal. Esteve Mede prepared a $40 million acquisition that collapsed, then reused the same diligence and modeling framework and closed a $3 million AI acquisition. When a lender's compliance rule broke Cody Sechelski's structure three weeks before the wire, the legal form changed, the economics stayed, and the deal closed.^{26, 27, 28, 32}

• On Cody's deal, the seller's rollover moved into a convertible seller note, so the lender got a clean cap table and the seller kept the right to convert into his stake.
• When a hard compliance line breaks the structure, change the legal form and keep the economics.

The fit check comes first. Every program starts with a strategy call where we confirm fit and scope your raise before you commit, and if the fit is not there, we tell you directly. After you start, Build plans have a three-month minimum, Connect plans are month to month, and cancellation takes effect at the end of the period already paid for.^{1, 4, 14, 21}

• We finish delivering the services for the rest of the paid period, and no further amounts are charged.
• There are no mandatory renewals.

Usually not anymore. Between 2010 and 2015, a buyer with net worth could close with zero cash down. Today lenders ask to see equity, proof of funds or collateral, and the working number is 10 to 20% of the ask in your net worth or liquidity. Below that, the deal is not dead: the equity gets syndicated from investors, or you bring collateral instead of cash.³⁶

• On a $10 million acquisition, 20% of the ask is roughly $2 million.
• Many zero-cash-down deals now use real estate: the buyer pledges a property they already own, with or without a loan on it, instead of putting cash down.
• Lenders in both the US and Canada are asking for a higher sponsor net worth.

Often, yes. A seller note is the seller lending you part of the price, repaid over time behind the senior lender, and it is commonly 10 to 30% of the price in lower-middle-market deals. Rollover equity, where the seller keeps a stake, cuts the cash you need further. In one published case, the seller approved carrying 100% of a $500,000 price.^{27, 29, 36, 42}

• That 100% carry rested on a 28-year relationship. Without one, plan for the seller to carry part of the price and fund the rest elsewhere.
• In a $10 million example from our capital markets episode, a $1 million seller note and $3 million of rollover put $4 million into the stack before anyone raised a dollar.
• Lenders often require a standby period with no payments to the seller, so early cash flow services the senior loan first.

It depends on the stack. Cody Sechelski bought a Texas HVAC company at a $2,660,000 enterprise value, and the wire left with under $20,000 of his own cash in the deal. The stack included senior debt from a private credit lender, seller paper on standby and seller rollover. Getting there took 25 capital providers run in parallel and a restructure three weeks before the wire.^{27, 28}

• The seller's rollover moved into a convertible seller note, so the buyer's company owned 100% at close and the seller kept the right to convert into his stake.
• Size the senior debt first, then the seller layers, then your own cash. The equity gap is the last number you calculate.

Borrow credibility before you borrow capital. A partner with net worth and liquidity can stand behind the loan in exchange for equity and a fee at closing. A co-GP investor can fund most of the equity alongside you. A business you or a partner already own can back the purchase through its cash flow or its equity.^{27, 29, 38}

• In one co-GP product described on our capital markets episode, the sponsor brings 10% and the co-GP investor brings 90% of the equity. They still want your own first-loss cash under theirs.
• A key principal prices risk like an investor: expect to give real equity and a closing fee.
• When a business you already own backs the deal, that business is on the line if the deal fails.

Yes, this is one of the most common situations we solve. The equity injection is commonly around 10%. We structure the raise around the approved file: investor equity through a properly built SPV, seller notes on full standby where the lender permits, and documentation that keeps the loan file compliant.^{12, 41}

• The deal you already found stops being blocked by the last 10 to 20 percent.
• Get the documentation wrong and the approved loan unwinds, which is why the paperwork is built to SBA standards.

We recommend the opposite. Having your capital structure ready makes you a more credible buyer, and your fund or SPV can be prepared in as little as two weeks, so you are ready when the right deal appears. A framework built once also outlives a dead deal: Esteve Mede closed a $3 million AI acquisition after a $40 million deal collapsed.^{22, 26, 27, 32}

• After the collapse, he applied the same diligence and modeling framework to new targets instead of rebuilding from zero.
• When you do find a target, sign a letter of intent before any purchase agreement.

Raises.com's work is the capital side: the structure, the documents, the model, the data room and the debt and equity introductions. Dave Klivans described the split: he sources the deals, and our team brings the debt and equity so he can close cleanly. If you are still searching, building the structure first makes you a more credible buyer.^{3, 22, 27, 35, 48}

• Wherever the deal is, a signed LOI, a target or a seller conversation, that is where the strategy call starts.
• Raises.com AI can run the capital stack math on a target you are weighing, free, from one message about the deal.

Cash flow a lender can underwrite. On lower-middle-market deals of $1 million to $10 million, lenders look for EBITDA at 30 to 40% of revenue and debt service coverage above 1.0, with a buffer around 1.15. Collateral helps, and the best collateral is real estate, heavy equipment and intellectual property. Deals that close have financials that agree with each other.^{28, 36, 37}

• A good business is not a sellable business until it runs without its owner.
• Plan for 10 to 20% of revenue to walk after closing, and confirm the debt service still covers.

An LOI. A purchase and sale agreement can bind you to put six figures into escrow, in one example $150,000 within five to seven days, just to see the books. A letter of intent opens a 40 to 50 day diligence period for free. Sign the LOI first and source the capital in the window it buys you.^{27, 28, 36}

• A non-binding LOI costs nothing to hold.
• Cody Sechelski signed his LOI on December 4, 2025 with no cash in hand, and every dollar was sourced between the LOI and the wire.

Big enough to absorb what walks out the door. After his first close, Cody Sechelski's rule is a minimum of $1 million in EBITDA, with a sweet spot of $5 million and above, because 10 to 20% of a business can leave after closing. He is explicit that smaller deals can still close with persistence. They just take more work.^{36, 37}

• In his experience, bigger deals close more easily than smaller ones.
• On lower-middle-market deals of $1 million to $10 million, lenders look for EBITDA at 30 to 40% of revenue.

Published client work includes a $500,000 shop purchase and a fund targeting $100 million. Cody Sechelski bought a Texas HVAC company at a $2,660,000 enterprise value. Esteve Mede closed a $3 million AI acquisition. Danny Frye launched a $50 million fund, and Abdiel Louis a Reg D fund targeting $100 million. Plans are sized to the raise.^{1, 26, 28, 29, 30, 32, 34, 36}

• Daniel Ghebreyohannes agreed to buy an auto glass shop in Irving, Texas for $500,000, and the seller approved carrying 100% of the price.
• Connect Basic is sized for a single deal, Connect Standard for a larger single deal and Connect Pro for a multi-deal or fund raise.
• On lower-middle-market deals of $1 million to $10 million, lenders look for EBITDA at 30 to 40% of revenue.

On lower-middle-market deals of $1 million to $10 million, a bank financing a $5 million purchase wants to see roughly $5 million to $10 million of revenue, with EBITDA at 30 to 40% of it. Some groups underwrite a term loan at about 3x EBITDA, so $2.5 million of EBITDA can support roughly $7.5 million of debt, with equity still required on top.^{27, 36}

• Lenders also look for 10 to 20% of the ask in sponsor net worth or liquidity.
• Debt service coverage needs to sit above 1.0, with a buffer around 1.15.

Yes. There are packages for multiple raises, and the system is designed to handle concurrent deal flow. Build Basic covers one active raise, and Connect Pro is sized for a multi-deal or fund raise. When the strategy repeats, with several deals and one investor base, that points to a fund rather than a new SPV for every deal.^{1, 24, 30, 40}

• A single live acquisition usually wants an SPV that can sign and close, with a holding company as your control layer.
• Abdiel Louis moved from raising deal by deal to running two funds: a Reg D fund targeting $100 million and a Regulation A+ fund.

Yes. We structure Canadian entities, including provincial and federal corporations and Alberta and Ontario stacks, as well as US LLCs and LPs. Cross-border structures, such as a Canadian holding company with a US SPV, are common. Lender-facing packages for Canadian banks and credit funds are part of the same build.^{19, 25, 40}

• Entity type and jurisdiction are chosen deal by deal.
• The sample documents on our FAQ page include a Canadian subscription agreement for a limited partnership.

On leverage, Canada has usually been the stricter of the two, and the United States is now asking the same. Many lenders in both countries ask for liquidity or net worth equal to the loan ask. Our Head of Capital Markets puts the working number at 10 to 20% of the ask in net worth or liquidity, and says both together is better.^{19, 36}

• Below that level, the equity gets syndicated from investors or the buyer brings collateral.
• Lender-facing packages for Canadian banks and credit funds are part of the same build.

Every other layer of the capital stack still applies. Senior debt from a bank or a private credit lender, a seller note, seller rollover, an earn-out, a business you already own and investor equity through the vehicle can each carry part of the price. Size the senior debt first, then the seller layers, then your own cash. The equity gap is the last number you calculate.^{27, 36}

• Private credit costs more and carries covenants, but it is the road for a deal that needs a lender to structure around its situation or move on a set timeline.
• In a $10 million example from our capital markets episode, a $1 million seller note and $3 million of rollover put $4 million into the stack before anyone raised a dollar.

Raises.com is a global firm with a primary focus on the US, Canada and Western Europe. International deals are more complicated. On one Vancouver deal, banks would not finance a small international purchase, so a US investor collateralized assets and net worth for the financing, and the company was brought to the United States.^{19, 20, 36}

• Across time zones, a file request can take 12 hours to a day to come back, so a long document list can add weeks.
• Cross-border stacks, such as a Canadian holding company with a US SPV, are common.

From the lender that fits the deal: a bank or an institutional private credit lender for senior debt, an SBA lender for a 7(a) loan, and private credit groups for junior capital. The seller often carries part of the price through a note. Our capital markets team runs the lender process, with lenders in parallel off one data room and one structure.^{1, 23, 27, 28}

• Raises.com is a consultancy and advisory firm, not a registered broker-dealer, and holds a debt license, NMLS ID 2578088.
• On Cody Sechelski's deal, 25 capital providers were approached in parallel. 24 said no and one funded.

Lenders size debt to cash flow or collateral, never to the price. Some groups lend about 3x EBITDA on a senior term loan, and asset-based lenders advance 70 to 80% against heavy assets. Lenders want debt service coverage above 1.0, with a buffer around 1.15 on a business and around 1.2x on a building's rental income.^{27, 36, 44}

• Private credit can sit behind the senior lender at about 10 to 12% of yearly revenue, priced around 12 to 15% interest. It is debt that wins the deal, not debt you keep.
• Size the senior debt first, then what the seller carries, then your own cash. The equity gap is the last number you calculate.

An SBA 7(a) loan fits a standard acquisition inside the program's cap, when you can meet the equity injection, commonly around 10%, and back the loan personally. It does not fit a deal that needs a lender to structure around its situation or move on a set timeline. That is private credit's road, which costs more and carries covenants.^{12, 27, 41}

• If your SBA file is approved except for the down payment, investor equity through a properly built SPV and seller notes can close the gap, documented so the loan file stays compliant.
• A seller note on full standby can count toward part of the equity injection, subject to lender policy.

Yes. Close on the debt that wins the deal, then refinance into the debt that holds it. On September 30, 2026, Cody Sechelski received a refinance offer for a 25-year fully amortizing term loan at a lower rate, sized to pay off his short-term acquisition debt. The refinance goes out once the business has a closed acquisition behind it.^{27, 28, 44}

• The same company that could not get past 24 lenders as a purchase drew a refinance offer as an owned, operating business.
• On a stabilized building, cash-out refinance proceeds can become the equity in your next SPV.