Hello,
There are a few lenders who will do 100% seller financing for vet clinics along with a few other specialties. Does anyone have experience in using these lenders or have any recommendations?
Thank you!
Vet Financing?
by a searcher from Rice University - Jesse H. Jones Graduate School of Business
Thank you!
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The SBA 7A loan program, under the new guidance, does allow 100% financing with a minimum of a 10% seller note on full standby for two years of the loan term. However, we are not seeing many lenders employ this. The items provided by Asumaku Suka above sound like internal underwriting requirements for her Bank to get to 100% financing. Those are not SBA requirements. We are finding most lenders are still requiring a minimum of 5% buyer equity even if you have a 10% seller note on full standby for at least 2 years to be sure the buyer has something at risk. The only deals we have seen get done with $0 in buyer equity have been those where a key employee is buying out at owner and the transaction risk is low.
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