Can you raise outside capital with SBA 7a loan without a PG for investors?

September 19, 2022
by an investor from University of Pennsylvania - The Wharton School in Los Angeles, CA, USA
Hi everyone. I've read that the SBA 7a loan requires a personal guarantee for all owners >25%. Does that mean if I raise some equity from outside parties (likely HNWs) they will have to provide a PG on the loan? Can I limit to the PG to myself only? Are there structural ways around this?
Particularly interested in a self funded search with a purchase price >$5M that will require some additional equity alongside my own equity contribution.
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
from INSEAD in New York, New York, USA