💲 Quick reminder: A business’s value isn’t the same as what it can support in loan terms.

⚠️ We’ve seen deals where:

• FMV = $1.6M
• But loan ask = $2.1M
• Why? Personal goodwill, buyer synergy, optimism

Appraisers calculate value. Underwriters assess risk. Those aren’t always aligned.

📌 The loan amount must fit within what the business can support—not just what the buyer is willing to pay.