ELEPHANT IN THE ROOM QUESTION - HOW TO ADDRESS THE 10% EQUITY FOR SBA DEAL?
Help from the group: (please no anecdotal answers, but real-life)
I continue to get from banks that the SBA requires a 10% cash injection from buyer, but have never read it under the SBA guidelines.
(Maybe this is just bank guidelines?)
Question- if you have all your ducks in a row and deal fits banks guidelines, but you personally don't have that '10%' cash available, how can you structure the deal?
Understand 'skin in the game' and one will by signing the dotted line, but if it's a good deal and is de-leveraged with great DSCR, how do you get over this hurdle?
*Again, real-life answers of those who have done it.
Thanks in advance!