Use this checklist to assess businesses in this industry for SBA 7(a) lending and underwriting.

👨‍💼 Owner Dependency + Credentialing

• Is the owner the sole licensed chiropractor?
• Is there an associate or backup provider?
• Has a fair market wage been applied to clinical work?
• Are licensing and credentialing transferable or replicable?

🏷️ Payer Mix + Revenue Quality

• What percentage of revenue is cash pay vs. insurance?
• Are insurance reimbursements timely and normalized?
• Is visit frequency stable or irregular?
• Are revenues documented via EHR or manual logs?

📊 CapEx + Equipment Assessment

• Are adjustment tables, digital x-ray, or EHR systems included?
• Has CapEx for wellness and therapy tools been normalized?
• Is there deferred equipment or technology spend?
• Are any assets personally owned or excluded from valuation?

📄 Patient Retention + Transferability

• Will patients stay after the owner exits?
• Is there a structured transition plan?
• Are visit plans, memberships, or referrals documented?
• Is goodwill based on brand or personal care style?

🚩 Red Flags

• Solo provider with no succession strategy
• Cash payments tracked manually or inconsistently
• Addbacks include supplements, wellness, or family health
• Equipment outdated or omitted from CapEx review

📌 SBA SOP Tip

Chiropractic practices must reflect transferable labor, payer-adjusted revenue, and recurring visit flow. Solo owners with lifestyle addbacks and no transition plan pose high SBA valuation risk.