Debt Placement Opportunity – New Mexico Water Services Business

Hey everyone! Looking for some guidance (and potentially the right capital partner) on a refinance / growth situation. About 6 months ago, I acquired a water well pump and servicing business operating across New Mexico. Snapshot: • $1.1M purchase price • ~$380K SDE (very consistent historically and also post-close) • ~$400K in equipment • 20+ years of financials + tenured team It was a clean deal, but choosing the wrong lender with a broken SBA process forced me to pivot last minute and I ended up closing with personal capital plus ~$525K of friends and family debt at 20% interest. Not ideal, but it got the deal done. Since closing: • Business is performing in line with (or slightly ahead of) expectations • I'm having a blast! and pouring into new markets, sectors and new opportunities • No senior debt • Zero owner distributions yet- all cash flow (after investor interest) has been reinvested into the business • This is a high-demand essential services business we are aggressively scaling and looking to optimize our capital structure to support growth Now that the dust has settled, I'm looking to clean this up the right way. At the 6 month mark, I would like to 'refinance' out to get my investors their capital back and acquire the working capital required through loan or line of credit. Objective: • Refinance ~$525K of high-cost debt • Add growth capital to hire 2 technicians plus expand equipment and service capacity • Likely total facility in the ~$800K to $900K range I’ve started conversations with lenders and have been told this will be structured more as a new term loan vs a traditional “refi,” which is new to me. Would appreciate: 1. Recommendations on strong SBA or conventional lenders that can actually execute 2. Thoughts on optimal structure here 3. Any intros to private credit or family office groups that like this type of model, acknowledging it's quite unique. Appreciate any feedback, happy to share more details offline. Thanks for reading. As always, would love to connect with anyone who enjoys learning from my journey and can share their own! John