BUYING A BUSINESS WITH A CERTIFICATION (WOMAN/MINORITY/VETERAN/ETC)

I've come across this hurdle a number of times, a great business that gets a good percentage of their revenue as a benefit from qualifying for one or more certification groups such as women owned, minority, disadvantaged, etc., that I would not qualify for. I am looking at one now in particular, which happens to be veteran owned and the owner suggested staying on as a 51% partner. I was hoping to use SBA financing, so that would be off the table if the owner stayed on.

Are there any other traditional lenders, that would lend on cash flow?
Has anyone else purchased a business and lost the certification and was successful?

I guess I could potentially value the business based on revenue that was not related to holding this certification--would an owner take a discount due to the fact they might have a hard time finding a buyer that fits the same certification profile as themselves?

Thanks!



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