Hi all,

Anyone knows if is possible to avoid the PG required by the SBA loan under the self-funded search model? See below what I modeled for the self search model, main inputs and assumptions:

- EBITDA 1M, 3.5x

- 80% SBA --@----.com 5% Seller Note @ 8%, 15% Equity (90% of Equity from Investors @ 15% preferred)

- Equity Split: 20% Inv, 80% Operator

- IRR Investors 35%

- the above looks very attractive for all the stakeholders, the only caveat is the Personal Guarantee required by SBA (which the wife is not comfortable with!)