The SBA updated their SOPs within the last 12 months allowing for sellers to retain equity in the new entity. What I didn't realize until recent discussions was that in this scenario, the SBA requires the transaction to be treated as a stock purchase. Given that a lot of the SBA guidelines are "in the gray," I was curious whether anyone has experience in executing an asset deal in this situation (i.e. seller maintaining interest in the go forward) or if anyone had any feedback (good or bad) executing a stock deal in a situation where you had originally planned on an asset deal. Thanks all for your perspectives!