After working on thousands of SBA-related business valuations, certain patterns become hard to ignore.

When post-close issues arise, the problem is rarely the math. It’s usually leadership behavior, untested assumptions, or overlooked human capital risk that eventually surfaces as value erosion.

My recent posts have sought to connect those dots — leadership, risk, diligence, integration, and goodwill — into a single framework lenders can recognize before problems appear in portfolio performance.