Top Service Providers for Business Acquisition

You’ve found a business you want to buy. Or maybe you’re just getting started, but know that you need to assemble your team… Now what?

The secret to a successful acquisition isn’t just about finding the right business; it’s about building a team of advisors who have the experience to get you across the finish line. Let me share a little from my own experience about some of the top contenders to join your deal team.

SBA Loan Brokers

First things first: you’re going to need a loan, and in this space we almost exclusively mean an SBA 7a loan. The process can be a bit of a maze, but an SBA loan broker is your guide. They’ll take your deal and shop it to a bunch of different lenders to find the best match and help you through all the paperwork.

The best part? They’re usually paid by the bank, so it’s not a direct expense for you. A good broker brings a ton of perspective from past deals and can help you structure your own for success.

Here are a couple of great options to consider:

Pioneer Capital Advisory (Matthias Smith): This team is a powerhouse, closing over 100 deals in their first three years. Matthias is a must-follow on social media for his helpful content on SBA lending. To get started, you can book a call directly on their website.
Viso Business Capital (Heather Endresen): Heather is one of the hosts of Acquisitions Anonymous, and her decades of banking expertise shine through in her deal analysis. She offers free pre-LOI consultations, which can be super helpful for checking a deal’s financeability early on. You can sign up for her Office Hours to get started.

SBA Lenders

While a broker is a great asset, you can also go directly to a lender. A good lender is more than just a bank; they’re an ally who can provide some of the structuring support of a loan broker while also adding an extra layer of credibility for you with brokers.

Here are a few notable lenders to know:

Live Oak Bank: Known as the nation’s number one SBA lender, Live Oak has a dedicated team for self-funded acquisitions. Lisa Forrest and Sarah Andrews lead their team and are very active in the ETA community.
Byline Bank: Byline is consistently a top 5 SBA lender in the U.S. and an SBA Preferred Lender. This means they can make credit decisions in-house, leading to faster approvals and closings (Live Oak is also a Preferred Lender). This speed can give you a real advantage in a competitive market. I had a great experience with Keith Nigbur , a helpful banker on their team.
Local SBA Lenders: Don’t overlook the hometown hero! A lender from a local bank that does a moderate volume of SBA 7(a) acquisition loans can be a fantastic partner. They often know the local market and the brokers you’re working with, which gives you an instant boost in credibility.

For more options, you can check out the SBA’s official list of top lenders by volume , or get lost in the comments section on Searchfunder.

If you want more details on the SBA 7a program, check out this great case study from AJ Wasserstein on the topic. It is a very well-balanced perspective.

Quality of Earnings (QoE) Firms

You’ve found a business you love and signed a Letter of Intent (LOI). Now it’s time for financial due diligence. A Quality of Earnings (QoE) report is a deep dive into the business’s financials to find its true, substantiated earnings. It’s an essential “home inspection” for a business that goes far beyond a standard audit.

A full QoE report isn’t required for every small business deal and wasn’t the norm in the past, but it’s becoming more common as a way to de-risk a transaction. Don’t lean on it as a crutch or overdo it for a small business purchase. There are scaled-down analyses, like a Proof of Cash, that these providers can do that can still help identify potential issues.

Here are some firms that specialize in this critical work:

Credex Advisors: This newer firm has a tech-first approach, which helps make their services more affordable for individual buyers. They are a great option for a scaled-down analysis like a Proof of Cash.
Rapid Due Diligence: This firm focuses on providing a clear, easy-to-read report and offers unlimited support from a dedicated M&A CPA.
Cayne Crossing: The team at Cayne Crossing brings a unique blend of financial due diligence expertise and real-world operational experience as business owners and investors themselves. They’re focused on mitigating deal risk to ensure long-term success, not just closing the deal.

M&A Lawyers

This is not the place to skimp. You need a lawyer who specializes in mergers and acquisitions (M&A) to draft and negotiate key documents, handle legal due diligence, and protect you from liabilities. Using a generalist lawyer for an M&A deal can be a huge mistake, potentially collapsing the deal or creating problems down the road.

Here are a few trusted names in the space:

Clear Focus Law (Eric Hsu): Eric’s firm is exclusively dedicated to representing buyers in small business acquisitions. They offer transparent, flat-fee pricing, which is a big relief for buyers who want to avoid surprise legal bills.
SMB Law (Kevin Henderson and Eric Pacifici): The founders of this firm came from “Big Law” but focus on bringing that same expertise to Main Street businesses. They have a great LOI template that they refresh every year that is a strong starting point.

Specialized Services

Sometimes, your deal will have some unique quirks that require specialized services.

Sale Leasebacks: If the business you’re buying owns its own real estate, a sale leaseback can be a great way to free up capital. Instead of buying both the business and the property, you sell the real estate and then lease it back. You should have an advisor who understands both real estate and M&A, like Ascension Advisory , or you could work with a direct buyer of industrial real estate, like AIC Industrial .
Escrows and Deposits: Some brokers might “require” a deposit, but this is more common on smaller deals and is by no means standard. If they want one, I suggest you push back on it. Their goal is to ensure you’re a credible buyer, so find other ways to do that. If you do end up moving forward with a deposit, you need to make sure your funds are properly protected and accessible. Frankly, I find it’s more hassle and risk than it’s truly worth unless you absolutely can’t get away without it. Services like Escrow.com or Earnnest.com can help.

Building Your Dream Team

Your advisory team is the bedrock of your acquisition journey. Choosing the right people is just as important as finding the right business. Think carefully about who you’re bringing on, and remember, a small investment in the right experts upfront can save you a mountain of headaches and a lot of money in the long run.

The key is to start building these relationships early, even before you find your target business. Having your team in place demonstrates credibility to brokers and sellers, and gives you the confidence to move quickly when the right opportunity presents itself.