New MGA targets personal guarantee risk for small business buyers

Austin-based Get EBIT, Inc. has been licensed as a property and casualty managing general agency, signaling plans to enter a niche segment tied to small business acquisitions.

The MGA is expected to offer personal guarantee insurance, designed to protect entrepreneurs’ personal assets when they take on SBA-backed loans to purchase a business. Coverage is anticipated to provide limits of up to $5 million, addressing a key risk for buyers who often pledge their homes or savings as collateral. Public databases, however, do not yet show any carrier appointments for the MGA, which received its license yesterday.

Judging by its website, EBIT targets acquisition entrepreneurs. Beyond insurance, the company offers a newsletter, a membership community, and tools including a business-for-sale aggregator with AI-based deal analysis.