Template example. The narrative below is an illustrative structure for a real member story, not a specific person's account. Every figure and quote is a placeholder marked NEEDS-REAL-DATA until we publish a permissioned member's deal.
The business
The target was a residential HVAC company that had operated in the same metro for [XX] years, installs, repairs, and, most importantly, a book of recurring maintenance agreements. Two thirds of revenue came from service and replacement work homeowners can't defer forever, which is exactly the kind of demand a lender likes to see. The prior owner ran the field crews personally and was ready to retire, but the technicians, dispatcher, and brand were staying.
For a first-time buyer, that combination, proven cash flow, a team that stays, and demand that doesn't disappear in a downturn, is the whole thesis behind buying a boring, profitable business instead of starting one.
Finding and analyzing the deal
The member reviewed the seller's financials the way a lender would: normalize Seller's Discretionary Earnings, confirm the add-backs were defensible, and pressure-test whether the cash flow covered a loan payment with room to spare. Because HVAC service revenue is seasonal, the debt service coverage was stress-tested against a slow shoulder season, not just the annual total.
Structuring the offer
The deal was financed primarily with an SBA 7(a) loan. The buyer brought a modest down payment, the seller carried a note on full standby to bridge the equity gap and keep skin in the game, and working capital was built into the loan so the business wasn't starved for cash on day one. The stats panel shows the placeholder structure.
Closing and the first 90 days
From accepted offer to keys took about [X] months through due diligence, lender underwriting, and the SBA approval process. The first priority after closing was retention, technicians first, then the maintenance-plan customers who make an HVAC business worth owning. Nothing about the brand, the phone number, or the crew changed for customers.
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