AI built for small-business diligence
Read the seller’s numbers like a buyer.
Upload the P&L, tax returns, and CIM the seller sent you. In minutes, get a diligence memo: adjusted SDE, red flags, a value range, and the questions to ask before you sign an LOI. Then ask the AI anything about the deal.
Plans from $9/month. Cancel any time.
Diligence memo · Sample
Riverbend Laundry Co.
- Seller’s SDE
- $221,600
- Buyer-side SDE
- $205,900
- Asking price
- $650,000
- Implied multiple
- 3.16x
Red flags
● “One-time” repair add-back recurs every year
● Lease ends in 4 years with no renewal option
● Machines average 11 years old
The listing is marketing. The memo is math.
Add-backs
Sellers and brokers add back costs to raise SDE. Some are real. Some recur every year. Each $10,000 of false add-backs can add $30,000 to the price at a 3x multiple.
Weeks
A first look by hand means a weekend in spreadsheets per deal. Most deals you look at will die. You need to kill bad ones fast.
Questions
The best buyers walk into the first seller call with a sharp list of questions. The memo writes that list from the documents.
How it works
From seller documents to a decision
Upload what the seller sent
P&Ls, tax returns, the CIM or listing, bank statements, the lease, customer lists. PDF, Excel, or scans. Messy is fine.
Get a buyer-side diligence memo
In minutes, not weeks. The AI recasts the earnings, tests every add-back, ties the P&L to the tax returns, and flags what does not add up.
Ask it anything about the deal
“Can this support an SBA loan?” “What should I ask about the lease?” The chat has read every page and answers from your documents.
The memo
Nine sections. Every number sourced.
The same memo format we use to screen acquisitions for our own portfolio. Facts and judgment are kept apart, so you always know what the documents say and what is an opinion.
Read a full sample-
01
Business overview
What the company does, who buys from it, and how it makes money.
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02
Transaction context
Asking price, what is included, and the seller’s stated reason for selling.
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03
Financial summary
Revenue, margins, and trends by year, tied back to the source documents.
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04
Estimated SDE
The seller’s SDE versus a buyer-side recast, add-back by add-back.
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05
Red flags
Customer concentration, revenue that does not tie to tax returns, recurring “one-time” costs.
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06
Value creation angles
Where a new owner could grow revenue or cut cost, and what it would take.
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07
Initial observations
The only section with judgment calls, clearly labeled as such.
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08
Open questions
The exact questions to send the seller or broker before you sign an LOI.
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09
Valuation and deal structure
Value range, implied multiple, debt service coverage, and a starting structure.
Deal chat
Then ask it anything about the deal
The memo is the start. The chat has read every document you uploaded. Ask about financing, the lease, a strange expense line, or what to offer. Answers point back to the page they came from.
Try the interactive demo →Pricing
Less than one hour of an accountant’s time
Every plan includes monthly credits. A full diligence memo uses 10 credits. Each chat question uses 1.
Scout
For your first serious listing.
$9 /month
20 credits a month
Start with Scout- 2 diligence memos a month
- Chat with the AI about each deal
- Upload P&Ls, tax returns, CIMs, bank statements
- Export memos to PDF
Searcher
For buyers reviewing deals every week.
$49 /month
150 credits a month
Start with Searcher- 15 diligence memos a month
- Everything in Scout
- Side-by-side deal comparison
- Priority processing
Operator
For search funds, holdcos, and advisors.
$149 /month
500 credits a month
Start with Operator- 50 diligence memos a month
- Everything in Searcher
- Share memos with partners and lenders
- Email support within 1 business day
Credit pack: 25 credits for $15
One-time purchase. Top up when a deal needs more questions. Credits do not expire.
Cancel any time. Secure payment by Stripe. Prices in USD.
Questions
Whatever the seller or broker gave you. The most useful are three years of P&Ls, the matching tax returns, the CIM or listing, and 12 months of bank statements. The memo states which conclusions are limited by missing documents.
No. A quality of earnings (QoE) report is an accounting engagement by a CPA firm, usually done after the LOI. Deal Readout is a first-pass review that helps you decide whether a deal deserves an LOI, and what to ask before you sign one.
The memo works only from the documents you upload and cites them. When a number cannot be verified, the memo says so instead of guessing. Treat it like the first read of a sharp analyst: it finds the issues fast, and you confirm them in diligence.
Only you. Your documents are not shared with other users and are not used to train AI models. You can delete a deal and all of its files at any time.
Most buyer NDAs allow you to share information with your advisors for the purpose of evaluating the deal. Read your NDA. If it is strict, remove the company name before you upload; the analysis does not need it.
A full diligence memo uses 10 credits. Each follow-up question in the chat uses 1 credit. Need more in a busy month? Buy a credit pack or move up a plan.
Yes, any time, from your account page. Your memos stay available until the end of the billing period.
Know what you are buying before you sign the LOI
Upload the seller’s documents tonight. Have your memo and your list of questions before the next broker call.
Get my deal memo