LCG Advisors

08/18/2026

SBA change-of-ownership transactions are entering a new era of financial diligence. Under SBA SOP 50 10 8.1, Quality of Earnings reports will now be required for certain change-of-ownership transactions with a business purchase price of $3 million or more, adding a new requirement alongside the business valuation. The change represents an important step toward de-risking these transactions by providing greater visibility into the earnings supporting the valuation, debt service coverage, and ultimately, the proposed loan structure.

For LCG, this is an extension of the work our teams already perform every day. With established Quality of Earnings and SBA Business Valuation capabilities under one roof, LCG can support both requirements within the same engagement process.

Ryan Murphy breaks down what is changing, when the requirement applies, and what the new SOP means for SBA. Check out the full article on our website: https://lcgadvisors.com/the-sba-just-made-quality-of-earnings-mandatory/

08/12/2026

No two deals take the same route, and there can be a lot to navigate along the way. A transaction rarely moves through one workstream at a time. A quality of earnings review may uncover an issue that requires tax or cyber diligence before close. Investigative findings can influence deal terms, while decisions made during diligence can shape integration planning, financial reporting, and post-close accounting.

That overlap is where having the right team matters. LCG's Private Equity Services bring specialized expertise together across the transaction, allowing our teams to share findings, identify where additional work may be needed, and help sponsors address issues before they become surprises later in the deal lifecycle. From initial diligence through closing, integration, and post-close ex*****on, our goal is to help clients maintain visibility into what they're buying, what may need attention, and what comes next.

After all, it's a long road to close. It helps to pack accordingly.

Ready to talk through your roadmap? Connect with one of our experts and let them take the wheel.

07/30/2026

Join us in congratulating Mikhail Suravnev on five years with LCG! Thank you for your hard work and contributions over the years. Our team is lucky to have you!

07/28/2026

As the independent sponsor market continues to mature, industry participants are navigating an increasingly competitive and dynamic transaction environment.

Ryan Murphy recently joined industry leaders from Source Capital, Prodos Capital LLC, Chinook Investment Partners, and McGuireWoods LLP for an episode of Perspectives of the Ever-Evolving Independent Sponsor Universe. The discussion explored several of the themes shaping today's market, including transaction ex*****on, diligence, capital alignment, and the evolving independent sponsor landscape.

Listen to the full discussion at the link in the comments.

07/22/2026

Last week, our Denver team hit the greens with ACG Denver for their annual golf tournament. It was a great day of networking, great conversations, and a little par-ring along the way. Thanks for having us!

07/13/2026

Join us in congratulating Justin Allen on 10 years with LCG! We're grateful for your contributions to the team over the past decade and look forward to what's ahead.

07/13/2026

For years, recurring revenue diligence was built around a relatively simple assumption: recurring revenue was predictable. As software companies increasingly adopt usage-based and consumption-driven pricing models, that assumption is becoming far more challenging to evaluate.

In our latest article, Brendan Clay and Kenneth Sechler examine how recurring revenue diligence must evolve alongside modern software business models and why lenders and investors should look beyond headline ARR and MRR metrics.

Be sure to check out the full article on our website: https://lnkd.in/eWP96PhY

06/23/2026

Please help us welcome Michael Riekkoff and Douglas Bull, who join us as part of our Commercial ABL leadership team.

With decades of experience across asset-based lending, commercial finance, and financial services, Mike and Doug bring a tremendous depth of industry knowledge and leadership to the firm. Their expertise will further strengthen our ability to serve clients, support complex transactions, and deliver thoughtful solutions across a wide range of lending and advisory engagements.

As LCG continues to expand its national footprint and service offerings, the addition of seasoned professionals like Mike and Doug reflects our ongoing commitment to investing in our people, enhancing our capabilities, and delivering exceptional service to our clients. We are excited to have them on board and look forward to the impact they will make.

Be sure to read the official press release to learn more.

Mike Riekkoff and Doug Bull join LCG Advisors as Senior VPs of its Commercial ABL group, supporting lenders, financial institutions and other with financial due diligence.

06/15/2026

Wishing Elizabeth a happy five-year anniversary! We're thankful for all the ways you contribute to the LCG team.

06/10/2026

We've gotten off to a busy start this summer, welcoming a new group of interns to LCG! Over the next few months, they'll support teams across the firm while gaining firsthand experience working alongside our professionals. Please join us in welcoming them to the team. We look forward to seeing all they accomplish this summer!

Avery Smith - University of Miami; Isaac Pines - University of Florida; Dillon Costello - Florida State University; Brady Shaffer - University of Tampa; Sean Epstein - Southern Methodist University; Dawson Faulkner - University of Florida; Logan Hunter - College of William & Mary; Dagny Sammis - University of Massachusetts Amherst