Some really helpful changes came out from the SBA last week!

1 - SBA is clarifying that Lenders may refinance merchant cash advances, factoring agreements, and non-amortizing credit facilities. (Not necessarily a benefit for acquisition deals, but good to know for business who might be stuck on the hamster-wheel of RBF or black box financing)

2 - Retained equity by a business seller is now MUCH easier and more clear, done through creating a new entity, and doing an asset transfer. (In other words, doing it the way the industry prefers to do it, which was almost impossible under old rules!)

3 - A signature from a non-owner spouse is no longer required (But you'd better make still make damn sure they are on board!)

All of these changes are positive, and I've been continually amazed at the U.S. Small Business Administration the past year for the hard work they have done to make small business acquisitions accessible for so many aspiring new business owners.

A link to the full Procedural Notice, which contains all of the juicy details can be found here https://www.sba.gov/document/procedural-notice###-###-#### extension-rescission-notices-previously-published-procedural-updates-sop###-###-#### sop-50-55