Seniority of SBA loan vs. Seller Note

October 15, 2020
by a searcher from The University of Michigan - Stephen M. Ross School of Business in Hyderabad, Telangana, India
I am a bit confused on this and would appreciate answers. I believe SBA loan is senior to the Seller Note. Wouldn't there be a conflict then between these two funding sources since the loan payback period (say 10 years) is in most cases longer than the note terms (say 3 years)? Would the SBA loan covenants prevent me from paying off the Seller Note earlier?
from University of Missouri in St. Louis, MO, USA
from Nova Southeastern University in Lancaster, PA, USA