Hi Thomas, we can help you get rid of the SBA during the acquisition and free up a fair bit of working capital in the process. feel free to drop me a line redacted

It really depends on what your situation is. If you used seller financing to buy the business you cannot refinance the business with an SBA loan for two years after acquisition. However, if the two years have passed you can refinance the debt on the business using the SBA. If you have an existing SBA loan, it is very challenging to refinance an existing SBA loan into a new SBA loan. We can discuss options on a call if you like. .

The SBA rule regarding sellers not being able to stay on only applies to purchases. If it is a business you already own and you have some other minor owners or past sellers that are still involved but you originally financed the purchase differenlty, you can refinance it with an SBA loan. There is no technical limit to the numbers of owners there are for SBA financing. However, anyone that owns 20% or more of the business would be required to sign a personal guarantee and would be subject to any other collateral requirements of the SBA loan program if the transaction is not fully secured by business assets per the SBA Standard Operating Procedure ("SOP").

I would be more than happy to jump on a call to discuss options with you at any time. Using an SBA loan to refinance business debt is a great way to recapitalize the business and push out debt service requirements. I can be reached directly at redacted of you can contact me here. Thank you. .