I brought a deal under LOI and it has somewhat vague wording for the consulting agreement. WE have a separate consulting agreement which I wrote I agree to in an email. It basically says the seller will stay on for a salary plus commission on all new business he brings in for Year 1.

The broker is saying that I shouldn't share this wiht the SBA lenders because it will jeopardize the loan being approved. While in this context it does make sense to keep the Seller on as a Sales Rep for a while, I'm not 100% comfortable with this and don't know if it's a good idea to not disclose this agreement to the bank.

Does anyone have any thoughts on this?