LMMMAlower middle market M&A

Legal

Terms of use

LMMMA publishes aggregated public federal records about business acquisitions. These terms set out what you may rely on, what you may not, and the specific things this site does not claim to tell you.

Last reviewed 4 September 2026

1. The agreement

These terms are a binding agreement between you and QEIP LLC, which operates https://lmmma.com on behalf of FIH.com. By using this site you accept them. If you do not accept them, do not use the site.

We may update these terms. The date at the top of this page is when they were last reviewed. Continued use after a change means you accept the revised terms.

2. What this site provides

The site publishes aggregated statistics derived from public United States federal records, principally the Small Business Administration's 7(a) loan-level FOIA extract, together with written explanatory material about how transactions in this market are commonly structured.

All figures are aggregates. The site does not publish individual loan records, borrower names or addresses, even though the underlying federal file contains them. Sources, retrieval dates and exclusions are set out on the methodology page.

3. What it is not

This site is not, and must not be relied on as, any of the following.

  • A valuation. No figure here values any business. A median across hundreds of transactions in an industry says nothing about any single company, including yours.
  • A record of purchase prices. Figures are loan amounts. A purchase price typically includes buyer equity and often seller financing, none of which appears in the source data.
  • Legal, tax, accounting or investment advice. Nothing here is advice of any kind, and no reader should act on it without professional advice on their own facts.
  • An offer or solicitation. Nothing here offers to buy or sell any business, security or interest, or solicits any such offer. No business is listed for sale on this site.
  • A prediction or guarantee. Nothing here promises any outcome, price, multiple, timetable or result.
  • A credit reference. Lender pages report public loan volumes. They are not an assessment of any institution and not a recommendation to use one.
  • A complete picture of the market. The data covers one financing channel, capped at $5,000,000 per loan. Acquisitions financed conventionally are absent entirely.

4. No advisory relationship

Using this site does not create an advisory, fiduciary, agency or professional relationship of any kind between you and FIH.com or QEIP LLC. Sending an enquiry through the contact page does not create one either. An advisory relationship with FIH arises only under a signed written engagement.

Information you send through the contact form before an engagement exists is not covered by any professional privilege. Do not send confidential or sensitive material in a first message.

5. Permitted use and citation

The underlying federal data is a work of the United States government and is not subject to copyright. The aggregations, written material, code and design on this site are ours.

You may quote figures from this site in reporting, research and analysis, including commercially, provided you attribute them to LMMMA with a link to the page you took them from, and state the as-of date shown on that page. You may not present our aggregations as your own original analysis.

For substantial reuse, see the reuse page.

6. Prohibited uses

You may not:

  • attempt to identify individual borrowers, businesses or transactions from the aggregates published here, or combine them with other sources for that purpose;
  • use anything from this site to make a credit, employment, insurance or tenancy decision about any person or business;
  • present any figure from this site as a valuation of a specific business, or use it in a document that does;
  • scrape the site at a rate that degrades it for other users, or circumvent any technical limit;
  • republish the site substantially in full, or create a derivative service that substitutes for it, without written permission;
  • use the site or its content in connection with unlawful activity, or to mislead anyone about what the data shows.

7. Third parties and links

The site names lenders and links to government sources. Those links are provided for verification. We do not control third party sites, are not responsible for their content, and naming a party is not an endorsement. As set out in Disclosures, we receive nothing from any lender or service provider named here.

8. Disclaimer of warranties

The site is provided on an as-is and as-available basis. To the fullest extent permitted by law we disclaim all warranties, express or implied, including merchantability, fitness for a particular purpose, accuracy and non-infringement.

We do not warrant that the site is accurate, complete or current. The underlying federal data contains errors, is reported by lenders rather than verified, and is published to a stated as-of date after which it changes. We correct errors we learn of, as described on the corrections page, but we do not warrant that the site is free of them.

9. Limitation of liability

To the fullest extent permitted by law, neither QEIP LLC, FIH.com, nor their officers, employees or contractors will be liable for any indirect, incidental, consequential, special or punitive damages, or for lost profits, lost opportunities, lost data or business interruption, arising out of your use of or reliance on this site, whether in contract, tort or otherwise, even if advised of the possibility.

Our total aggregate liability arising out of or relating to the site will not exceed one hundred United States dollars.

Some jurisdictions do not allow certain exclusions or limitations, so parts of this section may not apply to you.

10. Indemnity

You agree to indemnify and hold harmless QEIP LLC and FIH.com against any claim, loss, liability or expense, including reasonable legal fees, arising from your use of the site in breach of these terms or in violation of any law or third party right.

11. Changes and termination

We may change, suspend or discontinue any part of the site at any time, including removing pages when a data refresh causes a group to fall below the reporting floors described on the methodology page. We may restrict access where use breaches these terms.

We may also add commercial features, including advertising, sponsorship, affiliate links, paid or subscription access to some material, data products, and services offered for a fee, and we may change what is free and what is not. Nothing in these terms obliges us to keep any part of the site available without charge. Where a feature is paid, its own terms are presented before you buy it.

Commercial arrangements do not change the editorial rules set out in Disclosures: rankings stay arithmetic on the public file, no party can pay to appear or to be removed, and no client of FIH is named anywhere.

12. Governing law

These terms are governed by the laws of the State of Delaware, without regard to conflict of laws principles. The state and federal courts located in Delaware have exclusive jurisdiction over any dispute, and you consent to that jurisdiction and venue.

13. Contact

Questions about these terms go through the contact form.

Related: Methodology and sources, Corrections, Disclosures, About, Privacy.