Part 2: SBA loan, LP in fund > 20%

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by a searcher from University of Colorado at Boulder
in Los Angeles, CA, USA

4yrs ago

Part 2: SBA loan, LP in fund > 20%

How does the SBA treat a scenario where investor is 15% and the investors spouse also invests 15%. Does that avoid the unlimited PG dilemma? This is followup to post yesterday, Thank you for insight.

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reply by a lender 4yrs ago
from California State University, Sacramento in Auburn, CA, USA

I will piggyback on Lisa's comments regarding family members and go one step further. SBA considers any close family ownership to be aggregated including spouse, children, parents, and even extended (brothers, cousins, etc.) family members (if proximate - live in same household and/or co-own other affiliated businesses together). Specific to your question, husband and wife are ALWAYS counted together and their combined 30% ownership would spur each to have to personally guarantee the loan. An excellent recent legal briefing is linked here that addresses "affiliation" which coincides with this question: redacted

reply by a lender 4yrs ago
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

I concur with what Lisa stated. It is about household ownership. Happy to jump on a call to discuss with you structure and options at anytime. I can be reached at redacted