There is potential situation that warrants us to change the ownership and role. My partner will take on the CEO/President role and while I step aside. Her skills and personal cost of living are more aligned with what the business needs. This requires a change of ownership and change in personal guarantee. Our lender told us that this will require Lender as well as SBA approval.

I will become minority owner or be out completely, with money I get by selling my equity , I plan to look for another business to buy.

I am wondering if this will reflect negatively on either of us as far as future SBA loan are concerned ?

How long I will have to wait to apply for new loan with SBA to buy another business.