Hi Searchfunder community!

I have a business I'm looking to acquire where the seller wants to start with 40% equity, and then sell the remaining 60% in 3-5 years. Seller is in his 80's so I believe him. EBITDA is high $2.5 mil + so starting with a smaller portion makes sense for me financially as it would be more affordable. Disregarding all the complications of running the business with that split for now ... what would be the challenges on the lending/deal side for this? I read that SBA requires >51% ownership somewhere (unsure if true). If I wanted to bring on additional investors for the down payment would that be possible? Would love to speak with someone that has experience in this type of situation.

Tom