He has closed over 500 accounting firm acquisitions. Not 50, but 500. He knows exactly which deals fall apart and why.

Episode 87 features Shannon Hay, Senior Vice President of Commercial Lending at United Midwest Savings Bank, where he leads SBA and commercial lending for accounting and tax firms nationwide. Over 30 years in commercial lending, with stops at Bank of America and Live Oak Bank, and nearly $500 million in accounting and tax firm transactions behind him.

In this conversation Shannon explains why the SBA 7(a) program lets an existing firm owner buy another firm with no money down, what actually kills a deal before closing, and the tax advice that makes accountants wince: if you plan to sell in the next three to five years, stop mitigating so hard and start dropping income to the bottom line, because margin drives value and banks lend on the last three years of returns.

He also breaks down why it is still a seller's market, what buyers get wrong in the letter of intent, how private equity consolidation is changing the lower market, and why his philosophy is education first, sales second, including the trade show he called a waste of time that turned into a $3 million loan three years later.

His number one action item: never stop learning, and never stop teaching.

Connect with Shannon:

LinkedIn: https://www.linkedin.com/in/shannon-hay-accounting-tax-leader

X: @shaysba

Email: shay@umwsb.com

Cell: 614-648-9199

United Midwest Savings Bank: https://umwsb.com/about/experience/shannon-hay

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