There’s plenty of capital out there for the large deals. Need $20 million? No problem. But the small b-to-b or consumer publisher needing $1 million will face limited options. However, don’t rule out the bank. If you go that route, consider these tips via Mike Kreiter and Larry Grimes of media M&A brokers W.B. Grimes & Company.

There’s no such thing as "no money down." Be prepared to put up 20-25 percent of the purchase price as a down payment. That includes getting a loan from the Small Business Administration.

Banks do not lend on future cash flow. They lend based on your ability to service debt from day one. If you are targeting an acquisition, there needs to be enough cash available to service debt after all of your expenses.

Get your business plan in order. Most financing sources want to see a full-blown business plan.

Before lending money, the bank will want to make sure, among other things, that you have a proven management team; you have a stable, historical cash flow; you have good operating margins; your revenue sources are diversified.

Make sure your management team has managed similar properties; has the ability to manage economic downturns; has a reputation in good-standing and is ready to make an investment in the operation themselves.