I spoke with couple of banks for SBA 7a loans, they mentioned a minimum of 15% of personal money to be put in the deal by the searcher. Is this a common practice across all banks? Are there banks that do not require this personal money?
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Is it possible you misunderstood and the 15% was their (bank, not SBA) policy for required minimum equity injection? Or maybe they wanted you personally to cover 15% of the equity injection, or roughly 2-3% of the overall deal in an average structure?