In SBA business acquisitions, I see the same issue surface again and again: deals that make sense on paper but unravel after closing.

In many cases, the valuation wasn’t “wrong.” The assumptions embedded within it — particularly around people, continuity, and leadership — simply weren’t tested or protected.

SBA valuations require more than financial normalization. They require an understanding of how leadership decisions, integration readiness, and human capital risk directly affect goodwill and the sustainability of cash flow.