Forgivable Seller Note / Structuring Question

April 18, 2025
by a searcher from University of North Texas in Dallas, TX, USA
Hi All,
I'm in negotiations to purchase a franchise business which has excellent history of earnings/profitability but does not have much collateral so I wouldn't think it could go conventional.
The owner has offered a forgivable seller note up to $1MM with the caveat that all remaining principal + interest on the seller note is forgiven after 5 years of payments. Is there any way to do this and still go SBA?
from The University of Chicago in Chicago, IL, USA
from Arizona State University in Nashville, TN, USA