Limited Guarantee on Pari Passu/Conventional Debt on top of SBA?
I am looking at an opportunity requiring Pari passu debt ($2-3MM) on top of $5MM SBA. Does anyone know if it is possible to bring in a limited guarantor (outside of the equity stack) to guarantee ONLY the pari passu portion of our debt? Is that possible, or would they be required to guarantee the full amount?