Interested → Contacted
From listing to CIM
Screen fast, introduce yourself as a credible buyer, sign the NDA, and get the real numbers.
A signed NDA on file, the CIM and financials in hand, and a first read on whether the deal clears your buy box and a lender’s cash-flow floor.
- 01
Screen against your buy box first
Most listings should fail in under a minute on sector, geography, size, or an asking multiple far outside the norm. Only the survivors earn a broker email.
- 02
Introduce yourself the way brokers screen
Brokers screen buyers before offers. Lead with who you are, what you’re looking for, how you’ll finance it, and your timeline, and ask for the NDA and CIM. For businesses that aren’t listed, a short, specific note to the owner works better than a form letter.
- 03
Sign the NDA, and keep track of what you signed
Each NDA limits who you can share materials with and usually requires you to return or destroy them if you walk away. Track term, non-solicit clauses, and who you’re allowed to share with (your attorney, CPA, and lender).
- 04
Run a rough cash-flow check before you invest real time
With the asking price and SDE, estimate the loan payment at SBA terms, subtract a realistic owner salary, and see whether coverage clears roughly 1.25x. If it doesn’t on the seller’s own numbers, it won’t after diligence.
Watch out for
- Naming a price on a first call before you’ve seen financials.
- Losing track of which NDAs you’ve signed and what they require when a deal dies.
- Overstating your capital or lender status to a broker. They check, and so will the lender.
Templates for this stage
Free to download with a numanknows account, alongside the deal they’re for.
Broker introduction email + buyer summary
Introduce yourself to a listing broker as a credible, financeable buyer, and request the NDA and CIM.
Direct outreach email (owner, off-market)
A short first-touch email to a business owner who hasn’t listed, plus two follow-ups and a call-prep sheet.
Mutual Non-Disclosure Agreement (NDA)
Sign before a broker or seller shares the CIM, financials, or other confidential deal materials.
NDA tracker (spreadsheet)
One row per NDA you sign: who it covers, when it expires, and what you owe back when a deal dies.
Next: From CIM to signed LOI
This guide is for informational and educational purposes only. It does not constitute legal, tax, financial, investment, or lending advice, and is not a substitute for advice from a qualified attorney, accountant, lender, or other licensed professional.