Non-SBA debt sub $5M

May 18, 2025
by a searcher from Villanova University in Miami, FL, USA
Hi all I’m currently looking to submit an LOI, in the next few days, on a food manufacturing business in Florida that has ~$5M revenue and ~$900k of EBITDA. To bridge valuation gap I plan to offer an earn out so sba is not an option.
I’ve seen this asked on searchfunder a couple years ago but haven’t seen anything recent.
Do any of you know of non-SBA lenders that will do $2M loan with no PG? The capital stack would be 50-60% debt, 20-25% seller note and the balance is equity. Equity would be from me, the sponsor, and some equity raised from investors.
Any suggestions would be helpful prior to submitting an LOI. Thank you all!
from Clemson University in Raleigh, NC, USA
from University of Michigan in Detroit, MI, USA