HI all,

Thank you in advance for you help and comments. I am wondering what is usually left on the balance sheet at the close of a transaction? I am looking at a plumbing business and the broker is saying that AP, AR, debt and cash are not included in the sale.
Is this usually the case?

I ask, because for an SBA loan I thought that they use the items on the balance sheet to lend against? Perhaps they lend against the net cash that the business produces on average and not the balance sheet?

Thank you for you help.