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    <title>addback</title>
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    <description>A weekly publication about private-market dealmaking. CIMs, add-backs, valuations, war stories.</description>
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      <title>the add-back that won't die.</title>
      <link>https://addback.co/issues/001</link>
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      <pubDate>Wed, 22 Apr 2026 00:00:00 GMT</pubDate>
      <description><![CDATA[Four years after PPP loans expired, COVID-era EBITDA add-backs are still showing up in CIMs. On a $5M EBITDA business at 6.8x, a $300K add-back inflates the purchase price by over $2 million.]]></description>
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