Assuming an acquisition of a relatively stable business at a 4.0X EBITDA multiple - is there an equity stake level above which it would be possible to secure a loan without having to guarantee personally?

I would be very interested in reading about deals that have been structured with equity, seller notes, and debt where the debt did not include a personal guarantee.

If there are such examples, it would be most helpful to know the percentage of equity, seller note, and debt relative to the transaction's EV.