David Graf paid $2.1M net for Danhard, a 61-year-old specialty HVAC manufacturer in Dallas, using an SBA loan with no seller note. Nineteen months later, EBITDA grew from $750K to $1.2M. The lesson: growth is chronically underpriced in SMB deals.

A 22-year-old self-serve car wash with two new in-bay automatics in Maryland asks $1.4M at 3.03x SDE. SBA-eligible. Jordan walks the SBA math, flags competitive density and utility costs, and delivers a pursue verdict.

Dan Burnside bought a rural Colorado HVAC company at a sub-3x multiple. Within days, the earnings unraveled. A hard, honest look at quality of earnings and tertiary-market risk.

Jordan breaks down Big Bear Auto Repair, a NAPA-certified shop in Big Bear Lake, CA, asking $350k on $125k SDE. Full SBA math, three diligence priorities, and a binary verdict.

Thursday Operator Story features Zack Mutnik, a Navy veteran gas-turbine electrician (age 32-33 at acquisition) who bought Jeff Masters Electric in Fort Myers / Cape Coral for $1.651M via SBA 7(a) — funded by selling two properties for the down payment. Source: Acquiring Minds (2026-05-14).

Monday Deal Room walks through a 54-year-old family-owned HVAC shop in Prattville, AL (Autauga County) listed on BizBuySell. Asking $450K against $180K SDE on $500K revenue = 2.5x — below the 2.95x HVAC median. Three employees, 50/50 service-to-install mix, seller retiring after 54 years.

Joseph Cruz left a finance career paying north of $400K to buy A&A Equipment and Supply Co., a small industrial equipment and supply distributor in Bensenville, IL (Chicago / O'Hare metro), in December 2024. Purchase price was $536,000 at roughly 2.25x SDE, financed with $75K equity, a $550K SBA 7(a) loan structured to a ~2x DSCR, a $55K seller note, plus a $50K earnout and $25K cash holdback as downside protection. Midway through year one, his general manager left. Joseph stepped into the role himself — and revenue still grew from $1.2M to $1.5M (25%), with $2M targeted for 2026.

Jordan walks through a real BizBuySell listing: a full-service independent auto repair shop in Cypress, TX (Houston metro), asking $375,000 against $247,500 SDE on roughly $450,000 in annual revenue. That works out to a 1.52x SDE multiple in a category that typically trades at 2.71x median. Full SBA 7(a) math at 10% down, 9.3%, 10 years. Three due diligence priorities, one yellow flag on a 55% SDE margin, and a pursue verdict with one specific broker question.

Two childhood friends — both former private equity professionals — quit their jobs in 2023 and built a thesis: franchising, then automotive, then auto repair, then Meineke specifically. They raised $2.8M from friends and family, expecting to reach 10 locations. Two and a half years later, Etium Capital owns 25 Meineke stores across the Carolinas, Wisconsin, and Massachusetts — at roughly $25M run-rate revenue and a path toward $5M corporate cash flow — with no second equity raise. They stacked SBA 7(a) debt, seller financing, sale-leasebacks, and reinvested operating cash flow on top of the original raise.

Jordan walks through a real BizBuySell listing: an established full-service landscaping and snow removal company in Wayne County, MI (Detroit metro), operating 30+ years with four full crews. Asking $1.4M against $500K SDE on $1M revenue — a 2.80x multiple at a highly unusual 50% margin. Full SBA 7(a) math at 10% down, 9.3%, 10 years. Three due diligence priorities (margin sustainability, contracted commercial snow share, crew retention + equipment reserve), one yellow flag on Wayne-County geographic concentration, and a binary verdict.