SBA 7(a) with RME — Feasible?
Has anyone successfully used an RME (Responsible Managing Employee) structure to satisfy licensing requirements for an SBA 7(a) acquisition?
I'm exploring a business acquisition in California that requires a contractor license. I don't have the required experience to qualify for the license myself yet, so I'm considering using an RME.
Would love to hear from anyone who has:
- Used an RME to meet licensing requirements
- Structured the RME role in a way that satisfied the SBA lender
- Dealt with any complications from SBA underwriting or closing because of this
Any lessons learned, or structure tips are appreciated!