Adjacent to holding a professional license, key-person dependencies shows up constantly in software deals where e.g. one developer holds 50%+ of codebase knowledge. You can quantify it across a team before you close without interviews.

I usually recommend having multiple paths of maintaining the license. That seems to have the most success in satisfying lenders requirements. That can evolve around using the seller's license for a while, promoting an employee with the license, bringing someone in from the outside with the license, of finding a path for the new owners to get the license. How this works and what the lenders will want to see will vary greatly depending on the state and licensing requirements for that business and who within the organization needs to hold that license. I would be happy to have a discussion at any time on a deal and provide feedback on what might be required or on potential solutions. We are a Commercial Loan Brokerage Shop with direct lending relationships with over 500 different institutions and we have a great deal of experience helping buyers craft solutions around licensing that get lenders comfortable. You can reach me here or directly at redacted