Financing a SaaS (Software as a Service) acquisition is notoriously difficult because it breaks the "Three Pillars" of traditional commercial lending: Collateral, Cash Flow Stability, and Liquidation Value. Unlike manufacturing or real estate companies, SaaS businesses are essentially "asset-light," meaning their primary value lies in intangible code and human capital rather than equipment or land. Traditional banks view this as high risk because if the business fails, no phy