Hi everyone!

I closed a self-funded acquisition in 2023 with a 20% capital injection and 80% seller financing. Deal was $5.3m. $1m down. $4.3m seller note. The loan term was 3.5 years, which was intentionally designed to be refinanced before then. Current rate is 9% fixed. Amortized over 10 years.

I would love to refinance out of this deal if/when interest rates start coming down. My understanding is that if I were to refinance through an SBA loan, I would need to demonstrate 2 years of making on-time payments to service my current loan.

Are there any other refinance options? Are there any options to refinance before 2 years? I am very familiar with SBA loans, but not other options.

Thank you!