⚡ TL;DR:

Most buyers think a working-capital true-up is off-limits in an SBA 7(a) deal. It isn’t. The deals that blow up aren’t the ones that include a true-up. They’re the ones that draft it so loosely that bank counsel reads it as a change to the buyer’s required equity injection, and pulls the approval.

Heather Endresen and Mark Dittrich walk through the exact drafting moves that keep a true-up clean: how to set the peg (target net working capital vs. a dollar floor), where the adjustment lives in the APA, and the language that tells underwriting the injection is untouched.

If your loan is smaller, collateral is strong, or little of your personal balance sheet is exposed, PG insurance may not be worth the premium.

But if you’re signing a seven-figure guarantee on an asset-light acquisition, your equity check may not be your maximum exposure.

Ink helps SBA buyers figure out which side of that line they’re on before close.

A multidisciplinary orthopedic and personal-injury medical practice in Orlando, Florida, under continuous family ownership for more than 40 years and operating three fully equipped clinics. The practice posts roughly $5.62M in revenue with about $2.81M in seller’s discretionary earnings, a 50% margin, run by clinical and administrative staff across the locations. A signed NDA is required for full financial detail.

Why this deal stands out: A 50% margin and $2.81M of earnings across three clinics with 40 years of operating history is the anchor deal of the issue. At 2.4x earnings the estimated DSCR is around 2.9x even on the full $6.83M, leaving roughly $1.85M of cash flow after a full note.

💡 EBIT Take: Personal-injury practices run on attorney referrals and lien-based billing, so the diligence is the referral and payer mix, how much revenue is PI-lien versus commercial, and how the treating physicians and their credentials transfer. At $6.83M the buyer cash-in runs past the usual SBA injection, so this is a self-funded or larger-check deal, likely a 7(a) + 504 structure. Best for a healthcare operator or a physician-partnered buyer.

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This turnkey automotive repair facility in Ahoskie, North Carolina has operated since 2017 and comes with its real estate: a 14,900 square foot facility valued at $750K, included in the asking price. The business generates $1.2M in revenue with $450K EBITDA on an established local customer base in a growing area.

Why this deal stands out: Real estate included at $750K on a $1.25M asking price means you own the dirt, not just the wrenches, which strengthens the SBA collateral position. At 2.8x EBITDA with an estimated 2.6x DSCR, the cash flow covers the note with room to spare.

💡 EBIT Take: Auto repair is the highest-engagement category we track, but diligence is technician-dependent. Confirm the bay count, the mix of retail vs. fleet work, and whether the lead techs stay through transition. Get an independent appraisal to confirm the $750K real estate and the highest-and-best use of the site.

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This New York based B2B wholesaler runs a proprietary, AI-enabled platform that connects business buyers with a diversified network of branded product suppliers, with automation embedded across sourcing and merchandising. The business is fully relocatable and posted $1.64M in 2025 revenue with $659,769 in cash flow at a 40% margin.

Why this deal stands out: At 1.2x SDE this is the best raw value in the issue. The math is unusual: an estimated 5.8x DSCR and roughly $547K in cash flow after a full SBA note on an $800K purchase price. A proprietary, relocatable platform with a 40% margin rarely trades this cheap.

💡 EBIT Take: The low multiple signals the market’s caution, so spend diligence there. The 2026 year-to-date run rate is tracking below 2025, so confirm whether that is seasonality or softening demand, how durable the supplier relationships and the tech moat are, and how much depends on the founder. Ideal for an operator who understands marketplace economics and can stabilize the trend.

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This tenured Allstate agency in the Akron, Ohio area carries $8.23M in earned premium across 5,806 policies in force, plus roughly 1,000 additional service accounts. Annual revenue runs about $1.0M against roughly $250K of expenses (staffing and marketing), implying owner earnings near $750K. Retention sits at 85.8% with a 45.7% loss ratio.

Why this deal stands out: An 85.8% retention rate is the headline: this is renewal-driven, recurring commission income, the kind of cash flow lenders like. At an estimated 2.3x earnings the implied DSCR is roughly 3.0x with about $503K of cash flow after debt.

💡 EBIT Take: Captive agencies carry a specific transfer risk. Allstate must approve the buyer, and you are acquiring the economic interest in the book rather than the policies outright, so confirm the appointment process and any conversion or non-compete terms before you fall in love with the retention number. Best for a buyer who can get appointed and run a tight service operation.

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This established behavioral-health practice delivers Applied Behavior Analysis (ABA) therapy for children diagnosed with autism spectrum disorder and related developmental disabilities across Virginia. It runs on a team of 16 with individualized, recurring treatment programs and has already cleared an SBA pre-qualification, which shortens the path to a lender package. The practice has built a strong clinical reputation in its market.

Why this deal stands out: SBA pre-qualified at 2.9x SDE with a 34.7% margin is a clean financing setup, and the estimated 2.4x DSCR leaves roughly $321K of cash flow after a full SBA note. Recurring therapy revenue and a 16-person clinical team make this far more transferable than an owner-dependent practice.

💡 EBIT Take: The value here is payer mix and clinician retention. Verify the split between Medicaid and commercial reimbursement, the BCBA credentialing of the team, and how many billable hours depend on any single clinician. Best fit for a buyer who can recruit and credential BCBAs and professionalize scheduling to widen capacity.

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This Ohio business, established in 2004, is a nationally recognized, profitable innovation-education company operating for over two decades. It generates $1.79M in revenue with $796K in seller’s discretionary earnings at a 44.5% margin, run by a team of 9. The sale is a planned ownership transition.

Why this deal stands out: A 44.5% SDE margin on a nationally recognized brand with 20-plus years of operating history is a rare quality combination. At an estimated 1.6x DSCR the cash flow services a full note, and the brand recognition is a real moat for a category that is hard to build from scratch.

💡 EBIT Take: Premium price, premium asset, so the question is durability of the brand and the curriculum. Confirm what share of revenue is recurring or subscription versus one-time, how dependent demand is on the founder’s reputation, and what the planned transition includes. Best for a buyer who can keep the brand current and invest in distribution.

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This Davidson County, Tennessee flooring distributor runs a lean, high-margin model with $490K of inventory included in the sale. It posted $1.69M in revenue with $465K in seller’s discretionary earnings at a 27.6% margin. The seller describes it as easy to run, and the sale is driven by relocation.

Why this deal stands out: Nashville is one of the strongest housing markets in the country, and a flooring distributor with a 27.6% margin and $490K of included inventory plugs directly into that demand. The deal is priced with the inventory in the asking number.

💡 EBIT Take: Two things to test before you model this. It was established in 2022, so the track record is short, and it lists a single employee, so confirm exactly how easy to run survives a change of owner. Net the $490K of inventory out of the price to see the true multiple on the operating business, and verify supplier terms and customer concentration.

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This award-winning luxury custom homebuilder in Collin County, Texas (the DFW market) has operated since 1996. It runs $14.25M in revenue with $1.103M in seller’s discretionary earnings, a team of 10, and $300K of FF&E included. The owner is retiring.

Why this deal stands out: Thirty years, an award-winning brand, and $1.1M of SDE in one of the country’s fastest-growing housing markets is the anchor deal for a larger-check buyer. At 3.2x SDE the estimated DSCR is 2.2x with roughly $609K of cash flow after a full note.

💡 EBIT Take: The 7.7% margin is normal for a homebuilder, because revenue runs through subcontractors, so underwrite the backlog and working capital, not the headline revenue. Confirm the pipeline of signed contracts, how much of the brand equity is tied to the retiring owner, and whether the project managers and key trades stay. Best for a buyer with construction or development experience.

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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.