I am looking to buy a 1.5M to 2.0M business and have started contacting banks to find out their loan terms and see if they are easy to work with.



I've went through the list that the SBA.gov has on their site for SBA lenders in Arizona and called each one that does 7a loans. Of the 45 on the list, I have only been able to talk to eight who even understood how a SBA loan can be used to buy a business. Many only finance to existing business owners. Some banks wont even call me back, weeks later!

Chase wants 30% equity from the buyer and will not consider a seller note to make up any portion of the 30%.

The best overlay, so far, has been TFCU which wants 15% but 5 of the 15% can come from a seller note.

Is this a universal experience or am I going about things incorrectly?