NON-SBA LENDING ON $1.2M TOP LINE 50% SDE HIGHLY STICKY NICHE SAAS

I'm trying to figure out how to get leverage on a very small, highly niche but super sticky customer subscription SaaS play. For a few reasons, I'd like to keep the founder involved with some equity so SBA is out as an option. Also, this is at auction with multiple offers so high seller financing isn't going to work. Since it's software, there's no assets to lend against. Asking $2M.

ideas? Anyone know players that are willing to lend at those levels and/or some combination of debt + equity for a non-control situation?



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