⚡ TL;DR:

Northwest Bank is the SBA lender to watch this year. Lisa Forrest and Sarah Andrews joined from Live Oak to build out their platform, and they're bringing 35+ years of acquisition lending experience with them.

we sat down with Lisa to get the scoop on what they're offering, how to prep for a first call, and what's underwriting well right now. A few things stood out — they'll look at deals pre-LOI, they've structured the program to go up to $8M, and they have clear advice on what makes a first lender conversation productive.

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A 21-year-old commercial electrical contracting company in Hunterdon County, New Jersey, with a strong base of repeat commercial customers. The business has been pre-approved for an SBA 7(a) loan, requiring just $233K down. Based on historical data, a new owner would clear approximately $457K in the first year after debt service. The SBA package includes a $150K line of credit for working capital.

Why this deal stands out: SBA pre-approved at $233K down with a $150K working capital line makes this one of the most financeable deals in the newsletter. At a 2.9x multiple and 39% margins, the economics work well for an owner-operator looking to step into a trade business with built-in commercial relationships. The 21-year track record adds bankability.

💡 EBIT Take: The key question is customer concentration — with “repeat commercial customers,” you want to know what percentage of revenue comes from the top 3–5 clients and how contractual those relationships are. Also verify how much of the work is self-performed vs. subcontracted, as this affects margin durability. Best suited for someone with electrical trade experience or general contracting background.

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A 25-year-old auto spa business providing car wash and auto repair services on a 1.5-acre property in Orange County, New York. The business includes a 120-foot car wash tunnel, operates semi-absentee, and reports profits exceeding $700K. The property, valued at $700K in FF&E, is included in the asking price along with $25K in inventory. Owner financing is available, and the seller is retiring.

Why this deal stands out: Real estate included in the asking price is the story here — a 1.5-acre commercial property in Orange County, NY, with an established 25-year car wash operation. The 44% SDE margin reflects strong unit economics, and owner financing availability adds deal flexibility. Car wash businesses consistently rank among the highest-engagement deals with our readers.

💡 EBIT Take: The premium multiple (4.9x) is justified by the included real estate, which provides both asset value and eliminates lease risk. Verify the property appraisal independently and confirm whether there are any zoning advantages that make this location defensible. The semi-absentee model works for an investor buyer, but the DSCR at 1.5x is tight — the owner financing could help structure around this.

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A Dallas–Fort Worth contracted route logistics company providing recurring, scheduled deliveries using medium-duty trucks and a network of independent drivers (1099 subcontractors). The business generates approximately $1.6M in annual revenue with strong SDE of $872K, supported by a lean operating structure. Revenue is derived from a single long-standing commercial customer relationship maintained over multiple years through consistent operational execution. The owner handles oversight, coordination, and the primary customer relationship.

Why this deal stands out: A 54.5% SDE margin on a logistics business is exceptional — the 1099 subcontractor model keeps fixed costs minimal while the contracted route structure provides revenue predictability. At $872K SDE on $1.6M revenue, this is a highly capital-efficient operation. The FF&E of $400K in trucks is included.

💡 EBIT Take: The single-customer concentration is the obvious diligence focus — you need to understand the contract terms, renewal history, and what happens if that relationship ends. Also evaluate the USDOT/MC authority transfer process, which doesn’t happen automatically in an asset sale. This deal is best for an experienced logistics operator who can add customers to de-risk while maintaining the existing relationship through transition.

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One of Middle Tennessee’s most established pool companies, operating continuously since 1988 and serving a 60-mile trade radius across some of the state’s fastest-growing counties. Three diversified revenue streams: custom pool construction (50%, fully subcontracted via 1099 network, average project $125K–$150K), full-service retail storefront with $330K+ in inventory (25%), and a service division covering openings, closings, repairs, and warranty work across 6,000+ pools (25%). BBB Accredited and Google Guaranteed. Management team in place — owner works 3–4 partial days per week.

Why this deal stands out: Three revenue streams, 36+ years of operating history, and a semi-absentee structure with management in place — this is a textbook SBA acquisition. The 2026 construction backlog already exceeds all of 2025, signaling strong growth momentum. The 6,000+ pool database is a built-in service revenue engine that’s not yet fully monetized (recurring cleaning routes aren’t offered yet).

💡 EBIT Take: The immediate growth opportunity is obvious: start offering recurring pool cleaning routes, which is the most-requested service from existing customers. The capital-light construction model (100% subcontracted) means you’re not managing crews. Verify the 1099 relationships are properly structured and that the subcontractor network is deep enough to support the growing backlog. This deal is ideal for someone who wants a diversified, community-rooted business with clear expansion paths.

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A 20-year-old MEP firm specializing in fire protection and alarm system design, delivering comprehensive multi-discipline engineering solutions across commercial projects in the New York metro area with additional work in New Jersey, Florida, and Connecticut. The firm has 10 employees and generates 60–70% of revenue from repeat customers, with the majority of new business from referrals. The retiring owner is willing to stay 1–2 years and is carrying 15% of the purchase price as a seller note, demonstrating confidence in the business’s continued success.

Why this deal stands out: Fire protection engineering is a high-demand, specialized niche with strong regulatory tailwinds — every commercial building needs fire protection design, and the barrier to entry is high. A 28% profit margin, 60–70% repeat rate, and referral-driven growth signal a well-run operation. The 15% seller note demonstrates skin in the game.

💡 EBIT Take: The seller’s willingness to carry 15% and stay 1–2 years is a strong signal of confidence. Key diligence: verify that the PE-licensed engineers are staying post-acquisition and that client relationships aren’t solely tied to the departing owner. The NY metro market has enormous demand for fire protection engineering, especially in renovation and energy-sector projects. Ideal for an engineer looking to acquire a platform or a professional services acquirer expanding into building services.

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Disclaimer: Educational content only — not investment advice. Listings from third-party sources; accuracy not guaranteed. Do your own due diligence. Consult with legal, accounting, and financing professionals before making any acquisition decisions.