How to Remove a Personal Guarantee?
What is the most strategic path to removing a personal guarantee when buying a business with debt (either conventional or SBA loan)? I've heard that if you start with an SBA loan, you can refinance after approximately 2 years of stable historical financials to a conventional loan, but assume that this new loan will still have a PG attached. Just curious about strategies to remove the PG (eventually) and the timeline to do so. Thanks in advance for your advice.