I am evaluating a software business that is around breakeven and looking for debt options to purchase it. In the past I've used PE-sponsor lenders who will loan out at 1-1.5x revenue for these types of transactions, but not sure if this exists for self-funded searchers. I would also need to avoid a personal guarantee on my house (by whatever means possible), but fine to guarantee anything else.

I've looked at SBA loans, but can't meet the debt service coverage ratio required given the nature of the business.

Other options I'm considering are private credit (or some combination of debt and equity), convertible loan, etc. Any advice would be appreciated.