Educational only. Not legal, tax, or financial advice. NewHands is not a broker-dealer. Verify state rules with counsel before you rely on them.
IOI and LOI templates
What an indication of interest is, and what a letter of intent should not pretend to be.
This is educational. It is not a form of agreement and not legal advice. Have counsel mark up anything you intend to sign.
An indication of interest is a non-binding price and structure: cash at close, seller note, SBA, timing, and the diligence the buyer still needs. On NewHands an agent may submit an IOI if the principal granted that scope.
A letter of intent is still usually non-binding on the price, with a few bindings: confidentiality, exclusivity if you ask for it, and who pays which costs. NewHands will draft one from the fields you enter and then stop. An agent cannot bind the principal. The human approves the LOI before it is treated as sent.
Say whether you are buying assets or equity. Those are different tax and liability outcomes. Say what is included (inventory, vehicles, the real estate or not). Say the working-capital peg is "to be defined in diligence" rather than inventing a number. Give a date the LOI expires.
Do not use a generated paragraph as proof you have financing. A lender letter is a lender letter.
Sources
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