Advice on 20% SBA Ownership Requirements

I'm on the board of a small artisan bakery that like many retailers has had considerable operating challenges during COVID and recently had their food prep facility decimated by Hurricane Ida. The business has been predominantly owned and operated by two women entrepreneurs (each owns 24%), one of whom recently stepped down from her operating role. Access to most SBA funding requires both to personally guarantee and/or pledge personal assets as they both own more than 20%. The one who recently stepped down is not willing to provide either as she just purchased her first home.
Naturally, the company is tight on cash and not in a position to purchase shares to bring the shareholder who's no longer part of management to less than 20%. What creative ideas have folks seen to address small ownership stake differentials like this to bring her ownership under 20% and open access to SBA funding? The founder who continues to run the company is willing step up and provide a personal guarantee and pledge assets. Has anyone seen a way to value these contributions as a way to justify a discount in her partners stake?
Many thanks in advance for any suggestions! all the best, Michael