HOW DID YOU FINANCE A DEAL WITH SELLER'S CARRY?

I am currently working on financing a deal that is under LOI. The seller and I would like the seller to keep around 10% of the equity in the business so that he can benefit from the upside of the company. Unfortunately, this is an asset light company that would normally be financed through SBA. The SBA requires the seller to sell 100% of their equity. Has anyone run into this type of situation, and how did you ultimately finance the transaction? Thanks in advance.



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