
Your first seller call is not a negotiation. It is not a job interview. And it is definitely not the time to tell the seller what you think their business is worth.
There are exactly three numbers that determine whether your SBA deal closes or dies. Most buyers only know about one of them. And the one they know? They calculate it wrong.
Ninety percent of the deals we see have inflated add-backs. The seller's accountant built them. The broker's CIM presents them like gospel. And you're about to pay a premium for numbers that are not real.
The Personal Guarantee Explained: What SBA Buyers Actually Risk