Introduction: Why 7th Street Legal Stands Out in Small Business M&A
If you are an acquisition entrepreneur looking to buy, grow, or sell a small business, finding the right legal representation can make or break your deal. Enter 7th Street Legal — a modern law firm purpose-built for today’s main street acquisition entrepreneurs. Featured on VerSquare.com, 7th Street Legal has earned a reputation for delivering premium legal services with predictable pricing and entrepreneur-friendly policies that set them apart from traditional law firms.
In this comprehensive review, we’ll break down what 7th Street Legal offers, how their unique pricing model works, and why having a dedicated M&A attorney matters — especially when you’re financing your acquisition with an SBA loan.
Who Is 7th Street Legal?
7th Street Legal was founded by Hal Stanton, an attorney who previously represented some of the world’s largest companies in private practice before dedicating his career to serving main street entrepreneurs. His vision was simple but powerful: bridge the gap between expensive big-firm legal services and inexperienced small-town lawyers.
The firm positions itself as the ideal alternative for acquisition entrepreneurs who need:
- Premium-quality legal counsel without the sticker shock of major law firms
- M&A-specific expertise from attorneys who work deals regularly
- Predictable, transparent pricing so you know what you’re paying before you commit
- A law firm that understands small business — because they are one
Services Offered by 7th Street Legal
Mergers & Acquisitions
The core of 7th Street Legal’s practice revolves around guiding acquisition entrepreneurs through every stage of an M&A transaction, from the letter of intent all the way to closing. Their M&A services include:
- Transaction structuring: Helping you determine the optimal deal structure — whether it’s an asset purchase, stock purchase, or something more creative
- Comprehensive due diligence: Reviewing financials, contracts, liabilities, and potential risks before you sign on the dotted line
- Negotiating transaction documents: Drafting and negotiating the asset purchase agreement (APA), bill of sale, non-compete agreements, and all ancillary documents
Fractional General Counsel
What happens after you close the deal? 7th Street Legal doesn’t disappear. They offer fractional general counsel services to support you post-acquisition:
- Legal compliance: Ensuring your newly acquired business stays on the right side of regulations
- Partnership agreements: Structuring agreements if you’re bringing in partners or investors
- Critical business contracts: Reviewing and drafting vendor agreements, customer contracts, employment agreements, and more
Pricing Model: Flat Fee and Hourly Options
One of the most attractive features of 7th Street Legal is their flexible pricing model. They offer two options:
Flat Fee Engagements
- Fees are earned against specific milestones in your deal
- If you don’t reach a milestone, you don’t pay for it
- This gives you budget certainty and aligns the firm’s incentives with your success
Hourly Engagements
- Hours are tracked in real time with on-demand updates
- Quick email responses, short phone calls, and minor tasks are not billed
- Full transparency into how your money is being spent
The Failed-Deal Credit Policy
Perhaps the most entrepreneur-friendly policy we’ve seen: if your deal dies before closing, 7th Street Legal gives you a credit toward your next transaction for any fees you’ve already paid. This is as close to zero risk as it gets. They acknowledge they’re a small business too and need working capital, but this policy shows a genuine alignment with their clients’ interests.
Industry Focus
7th Street Legal is industry-agnostic, meaning they work across a wide range of sectors. Their client portfolio includes businesses in:
- HVAC
- E-commerce
- Construction
- Engineering
- Home care services
- And many more
They’re transparent about being corporate and M&A generalists. If your deal requires specialized industry knowledge (e.g., healthcare regulatory issues), they’ll tell you upfront and recommend a specialist. That kind of honesty is refreshing and builds trust.
Why M&A Attorneys Matter for SBA-Financed Acquisitions
If you’re planning to buy a business using an SBA loan, having an experienced M&A attorney isn’t just helpful — it’s essential. Here’s why:
SBA Deals Have Unique Legal Requirements
- Equity injection documentation: The SBA requires proof that the buyer’s equity injection comes from acceptable sources. Your attorney needs to understand these rules.
- Standby seller notes: If the seller is providing financing, the note must be on full standby for the life of the SBA loan. An inexperienced attorney might draft terms that violate SBA guidelines, killing your loan approval.
- Change of ownership provisions: Leases, contracts, and licenses often need to be assigned or renegotiated. Your attorney must coordinate these transfers to satisfy both the SBA lender and the seller.
Protecting Your Interests in the APA
- Representations and warranties: These clauses protect you if the seller misrepresented the business. A skilled M&A attorney will negotiate robust protections.
- Indemnification provisions: If problems surface after closing, indemnification clauses determine who pays. Getting these right is critical.
- Non-compete agreements: Without a properly drafted non-compete, the seller could open a competing business across the street.
Coordinating with Your SBA Lender
SBA acquisitions involve multiple parties — buyer, seller, SBA lender, sometimes a seller note holder, landlords, and more. An experienced M&A attorney acts as the quarterback, ensuring all documents align and the deal closes on time.
Pros and Cons of 7th Street Legal
Pros
- Purpose-built for acquisition entrepreneurs — they understand your world
- Flexible flat-fee and hourly pricing options
- Failed-deal credit policy reduces your risk
- Post-acquisition support through fractional general counsel
- Transparent and honest about their capabilities
- Milestone-based billing aligns incentives with deal completion
Cons
- Smaller firm — may have capacity constraints during busy periods
- Industry generalists — may need to refer out for highly specialized matters
- Relatively newer firm compared to established M&A practices
Who Should Consider 7th Street Legal?
7th Street Legal is an excellent fit for:
- First-time acquisition entrepreneurs who need guidance through every step of the M&A process
- Serial acquirers who want predictable legal costs and a failed-deal credit policy
- SBA loan borrowers who need an attorney experienced in the nuances of SBA-financed acquisitions
- Small business owners looking for ongoing legal support post-acquisition
How GoSBA Loans Can Help You Close Your Deal
Finding the right attorney is just one piece of the puzzle. You also need the right financing — and that’s where GoSBA Loans comes in.
GoSBA Loans is a completely free service that connects acquisition entrepreneurs with the right SBA lender for their deal. Here’s what we offer:
- Access to 50+ SBA lenders — we match you with the lender most likely to approve your specific deal
- $320M+ in funded deals — our track record speaks for itself
- Free business plan creation — a $2,500 to $5,000 value, included at no cost to you
- Expert guidance from start to finish — we’ve seen hundreds of deals and know what lenders want
Whether you’re buying your first business or adding to your portfolio, GoSBA Loans simplifies the SBA lending process so you can focus on finding and closing the right deal.
Ready to Get Started?
If you’re ready to explore SBA financing for your next acquisition, contact GoSBA Loans today. Our team will match you with the right lender, help you build a winning business plan, and guide you through every step of the SBA loan process — all at no cost to you.
Pair the right M&A attorney like 7th Street Legal with the right SBA lender through GoSBA, and you’ve got a winning combination for your next deal.
