Adfitech Inc
How we got $245.4M
Based on its 197 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 43 years (since 1983)
- Headcount down 47% since 2021 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Mortgage Connect Risk Solutions (formerly ADFITECH) provides outsourced mortgage due diligence, quality control, and risk management services to mortgage lenders, servicers, and investors.
From the company's website. Industry: Financial Transactions Processing, Reserve, and Clearinghouse Activities.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- MidFirst Bank · Oklahoma City, 7 mi · $2.25B
- BancFirst · Oklahoma City, 11 mi · $785.7M
- InterBank · Oklahoma City, 8 mi · $369.1M
- Stride Bank, N.a. · Enid, 57 mi · $224.7M
- First Fidelity Bank · Oklahoma City, 7 mi · $161.7M
Estimated value over time
▲ 3% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▼ 35% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 197 | $135.6M |
| 2020 | Form 5500 | 217 | $149.4M |
| 2021 | Form 5500 | 241 | $165.9M |
| 2022 | Form 5500 | 76 | $52.3M |
| 2023 | Form 5500 | 134 | $92.3M |
| 2024 | Form 5500 | 128 | $88.1M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| ADFITECH INC this business | $100.8M | — |
| STOUT LENDING LLC Edmond · 1 employees | $509K | 1.0 mi |
| SPURR MORTGAGE CORPORATION Edmond · 3 employees | $1.1M | 1.4 mi |
| COMMUNITY LOANS OF EDMOND, INC. Edmond · 5 employees | $1.1M | 1.8 mi |
| J ARMSTRONG REAL ESTATE LLC Edmond · 1 employees | $509K | 2.2 mi |
| PRICE MORTGAGE GROUP LLC Edmond · 12 employees | $4.3M | 2.8 mi |
| RMAC LENDING LLC Oklahoma City · 3 employees | $1.3M | 6.0 mi |
The full calculation
| Employees reported to the SBA | 197 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $121.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $64.6M |
| Estimate: the two combined (geometric mean) | $100.8M |
| EBITDA margin (industry, adjusted for size) | 29% |
| EBITDA = revenue × margin | $28.9M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $245.4M |
| Multiple for this size and industry | 8.5× |
| Value range | $129.1M – $335.7M |
| Revenue range | $66.3M – $115.0M |
| EBITDA range | $19.0M – $32.9M |
| Industry (NAICS) | Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Since our founding in 1983, Mortgage Connect Risk Solutions has led the outsource mortgage services industry with pride.”
Advisors
- AccountingSchneider Downs & Co., Inc.Audits its 401(k) plan (2024 filing)
- BankingSpiritBankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| SpiritBank PPP 2020 | All 369 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $1.8M | 197 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Adfitech Inc
Adfitech Inc is a financial transactions processing, reserve, and clearinghouse activities company in Edmond, Oklahoma, in business since 1983. It is owned by Chase Hagan (Senior Vice President and General Counsel). Its estimated annual revenue is about $100.8M, with roughly $28.9M of EBITDA. It has about 128 employees. Its estimated business value is $245.4M (likely range $129.1M–$335.7M).
Common questions
- Who owns Adfitech Inc?
- Adfitech Inc is owned by Chase Hagan (Senior Vice President and General Counsel), according to public sources such as the company's website or filings.
- How much revenue does Adfitech Inc make?
- SeeBITDA estimates Adfitech Inc's annual revenue at about $100.8M (likely between $66.3M and $115.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Adfitech Inc worth?
- About $245.4M, roughly 8.5× its estimated EBITDA of $28.9M, typical for a financial transactions processing, reserve, and clearinghouse activities company its size. Likely range: $129.1M–$335.7M.
- How many employees does Adfitech Inc have?
- About 128, from its 2024 retirement-plan filing.
- When was Adfitech Inc founded?
- Adfitech Inc has been in business since 1983.
- Is Adfitech Inc for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 43 years (since 1983); headcount down 47% since 2021 (retirement plan filings).