Buying a business with an SBA 7(a) loan. One person who wants to invest is a green card holder, not yet a citizen (expects to naturalize in ~2 years). I know the new rules mean they can't be on the cap table now. Idea: have them put money in as a loan (junior to the SBA loan, standby), and convert it to equity later once they're a citizen and eligible. Stake would be under 20%, passive. The operator running the business and signing the guarantee is a U.S. citizen. Has anyone actually done this? Does the loan-now, equity-after-citizenship approach work, or does the plan to convert later cause problems with the lender up front? Appreciate any real experience.