Key Takeaways from SBA Changes Announced Yesterday

This is the "take" from talking to bankers and other brokers...

SBA loans can now be used for partial buyouts;

Seller can stay longer than a year if they retain any equity, can be a key employee, and can retain licenses! (gamechanger for licensed trades);

Seller that rolls equity doesn't have to Personally Guaranty the buyer's loan unless they keep over 20% equity;

10% equity can essentially be satisfied by the company itself if Seller rolls equity and the balance sheet is strong enough to pass a 9:1 "debt to worth" ratio with its tangible assets, so 0% down is possible. Some are interpreting this as the company can satisfy the 10% equity if the balance sheet checks out even if the Seller rolls ANY amount of equity, even like 1%, so buy 99% with $0 down and no Seller Financing theoretically may be possible?

Some examples of low money down deals that work if the balance sheet checks out:

2. Example A, can buy 100% with 0% down if Seller does 10% Seller Note with 24 month full standby; Example B, can buy 100% with 2.5% down if you make interest only payments for first 24 months to Seller Note.
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