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

Licensing + Owner Dependency

• Is the owner a licensed injector (MD, PA, RN)?
• Are other licensed staff employed and active?
• Is the business overly reliant on the owner’s skill or brand?
• Has owner clinical labor been normalized in cash flow?

Revenue Structure + Seasonality

• Is revenue tied to seasonal promos or influencer-driven spikes?
• Are services recurring or one-time treatments?
• Are packages properly allocated for cost and revenue?
• Are memberships, follow-ups, and cross-sells documented?

Addbacks + Personal Perks

• Addbacks include personal self-care (Botox, facials)?
• Vehicle leases, family wages, or luxury travel included?
• Marketing expenses linked to owner-only campaigns?
• Lifestyle perks clearly separated from business use?

CapEx + Equipment Review

• Are lasers, injectables, and diagnostic tools capitalized?
• Is CapEx normalized for med devices and consumables?
• Are any assets personally owned or not transferred?
• Is there deferred CapEx not reflected in cash flow?

Red Flags

• Owner is sole licensed provider without support staff
• Addbacks = luxury services or personal skincare
• No CapEx applied for lasers, chairs, or medical systems
• Revenue based on short-term promos or seasonal demand

SBA SOP Tip

SBA-compliant valuations must normalize for licensing risk, seasonality, and personal perks. Transferable cash flow must reflect a team-driven clinic—not a one-person aesthetic brand.