Planning to sell your business in 2025? These SBA loan changes could make or break your deal

Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

These SBA loan changes are already reshaping how deals get done. Here’s what they mean in practice:

For sellers: a better pool of buyers

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

The SBA no longer requires buyers with significant liquid assets to deplete their personal resources before qualifying for SBA funding. Previously, if a buyer had significant liquid assets, they were required to use them before tapping into SBA funding. That’s no longer the case. The elimination of this test means more flexibility for buyers—and more potential suitors for sellers.

Related: Thinking of selling without a business broker? These 10 risks could cost you the deal—and a whole lot more

Why the 2025 SBA loan changes matter

 

These SBA loan changes are already reshaping how deals get done. Here’s what they mean in practice:

For sellers: a better pool of buyers

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

For sellers, this means fewer complications down the road—and cleaner exits if you’re fully stepping away. At BBA, we help you structure deals that reflect these new requirements while protecting your priorities.

2. Delegated authority reinstated for non-bank lenders

This is one of the biggest wins for speed. Non-bank lenders (like many SBLCs) now have delegated authority again—meaning they can approve SBA loans without waiting for SBA sign-off. This can cut timelines from 90–120 days to just 60–90 days—or even 30–40 days in cases where banks use advanced underwriting systems and clean data is submitted up front.

 

In an environment where “time kills deals,” this change helps your buyer move faster, which means you get to the finish line faster too.

 

3. Equity investors under 20% no longer need to personally guarantee

Investors with under 20% ownership in a full buyout no longer need to sign a personal guarantee. This expands your pool of qualified buyers by removing long-term liability concerns for minority investors.

 

But remember, this rule only applies to full buyouts. It doesn’t apply to partial ones.

 

4. Elimination of the personal resource test

The SBA no longer requires buyers with significant liquid assets to deplete their personal resources before qualifying for SBA funding. Previously, if a buyer had significant liquid assets, they were required to use them before tapping into SBA funding. That’s no longer the case. The elimination of this test means more flexibility for buyers—and more potential suitors for sellers.

Related: Thinking of selling without a business broker? These 10 risks could cost you the deal—and a whole lot more

Why the 2025 SBA loan changes matter

 

These SBA loan changes are already reshaping how deals get done. Here’s what they mean in practice:

For sellers: a better pool of buyers

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

That’s where we come in. At Business Brokers of America we help business owners like you prepare for SBA-backed buyers—so you can walk away with confidence, on your timeline, and with the value you deserve. That means guiding clients through exactly what lenders need to see—financially, operationally, and structurally—to get a deal approved.

Overview of the June 2025 SBA loan changes

 

1. Stricter limits on seller notes and minimum 10% equity injection

A minimum 10% equity injection (of total project cost) is now explicitly required for complete changes of ownership. Seller notes only count toward equity if they are on full standby, with no principal or interest payments for the life of the SBA loan (typically 10 years).

If the seller note isn’t being used as part of the equity injection, it can be serviced immediately—but only if it’s clearly structured as a separate loan that does not count toward the 10% equity requirement. Any payments made on a note that was intended as equity could put the entire SBA loan in violation.

This is a massive shift. Historically, buyers could use short-term seller notes to bridge valuation gaps. This rule removes that flexibility. Now, buyers must bring real equity to the table.

For sellers, this means fewer complications down the road—and cleaner exits if you’re fully stepping away. At BBA, we help you structure deals that reflect these new requirements while protecting your priorities.

2. Delegated authority reinstated for non-bank lenders

This is one of the biggest wins for speed. Non-bank lenders (like many SBLCs) now have delegated authority again—meaning they can approve SBA loans without waiting for SBA sign-off. This can cut timelines from 90–120 days to just 60–90 days—or even 30–40 days in cases where banks use advanced underwriting systems and clean data is submitted up front.

 

In an environment where “time kills deals,” this change helps your buyer move faster, which means you get to the finish line faster too.

 

3. Equity investors under 20% no longer need to personally guarantee

Investors with under 20% ownership in a full buyout no longer need to sign a personal guarantee. This expands your pool of qualified buyers by removing long-term liability concerns for minority investors.

 

But remember, this rule only applies to full buyouts. It doesn’t apply to partial ones.

 

4. Elimination of the personal resource test

The SBA no longer requires buyers with significant liquid assets to deplete their personal resources before qualifying for SBA funding. Previously, if a buyer had significant liquid assets, they were required to use them before tapping into SBA funding. That’s no longer the case. The elimination of this test means more flexibility for buyers—and more potential suitors for sellers.

Related: Thinking of selling without a business broker? These 10 risks could cost you the deal—and a whole lot more

Why the 2025 SBA loan changes matter

 

These SBA loan changes are already reshaping how deals get done. Here’s what they mean in practice:

For sellers: a better pool of buyers

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]

Let’s break down the biggest changes and, more importantly, how we’re helping sellers navigate these shifts with clarity and confidence.

Related: 6 quirky (but very real) reasons buyers walked away after signing the LOI

What is an SBA loan?

An SBA loan is a government-backed loan that helps small businesses access capital they might not otherwise qualify for through traditional financing. When it comes to buying or selling a business, SBA loans—particularly the SBA 7(a) loan—are often the go-to financing tool.

An SBA loan allows qualified buyers to purchase a business with as little as 10% down, while providing sellers with a clean exit and cash at closing. It’s a win-win, but only if you understand how to navigate the process.

That’s where we come in. At Business Brokers of America we help business owners like you prepare for SBA-backed buyers—so you can walk away with confidence, on your timeline, and with the value you deserve. That means guiding clients through exactly what lenders need to see—financially, operationally, and structurally—to get a deal approved.

Overview of the June 2025 SBA loan changes

 

1. Stricter limits on seller notes and minimum 10% equity injection

A minimum 10% equity injection (of total project cost) is now explicitly required for complete changes of ownership. Seller notes only count toward equity if they are on full standby, with no principal or interest payments for the life of the SBA loan (typically 10 years).

If the seller note isn’t being used as part of the equity injection, it can be serviced immediately—but only if it’s clearly structured as a separate loan that does not count toward the 10% equity requirement. Any payments made on a note that was intended as equity could put the entire SBA loan in violation.

This is a massive shift. Historically, buyers could use short-term seller notes to bridge valuation gaps. This rule removes that flexibility. Now, buyers must bring real equity to the table.

For sellers, this means fewer complications down the road—and cleaner exits if you’re fully stepping away. At BBA, we help you structure deals that reflect these new requirements while protecting your priorities.

2. Delegated authority reinstated for non-bank lenders

This is one of the biggest wins for speed. Non-bank lenders (like many SBLCs) now have delegated authority again—meaning they can approve SBA loans without waiting for SBA sign-off. This can cut timelines from 90–120 days to just 60–90 days—or even 30–40 days in cases where banks use advanced underwriting systems and clean data is submitted up front.

 

In an environment where “time kills deals,” this change helps your buyer move faster, which means you get to the finish line faster too.

 

3. Equity investors under 20% no longer need to personally guarantee

Investors with under 20% ownership in a full buyout no longer need to sign a personal guarantee. This expands your pool of qualified buyers by removing long-term liability concerns for minority investors.

 

But remember, this rule only applies to full buyouts. It doesn’t apply to partial ones.

 

4. Elimination of the personal resource test

The SBA no longer requires buyers with significant liquid assets to deplete their personal resources before qualifying for SBA funding. Previously, if a buyer had significant liquid assets, they were required to use them before tapping into SBA funding. That’s no longer the case. The elimination of this test means more flexibility for buyers—and more potential suitors for sellers.

Related: Thinking of selling without a business broker? These 10 risks could cost you the deal—and a whole lot more

Why the 2025 SBA loan changes matter

 

These SBA loan changes are already reshaping how deals get done. Here’s what they mean in practice:

For sellers: a better pool of buyers

Seller notes only count as equity if they’re on full standby (no principal or interest payments) for the entire loan term. If a seller retains even 1% equity after the sale, they must personally guarantee the loan and be listed as a co-borrower for two years post-closing—an added liability most sellers want to avoid.

“We’re cautioning our clients: even if you retain 1% ownership, you’re still personally guaranteeing the loan. It’s cleaner to just exit 100%.”

 For buyers: more flexibility—but fewer loopholes

 

The removal of the personal resource test gives capitalized buyers more freedom. But the new 10% equity rule, with full standby seller notes required, closes a popular loophole.

“What SBA is really signaling is: we want to see buyers injecting real cash and having real financial commitment to this deal.”

The fine print? The seller note must be on true standby, meaning no payments for 10 years. Buyers must be prepared to bring real cash or adjust their deal structure accordingly.

Related: You found a buyer—now what? How to protect yourself before signing the LOI

For lenders: faster, clearer approvals

Delegated authority for non-bank lenders is back, meaning quicker decisions and smoother closings. In carve-out acquisitions, lenders can now accept documentation like CPA-reviewed financials or sales tax records in place of standalone tax returns for the portion being sold—removing a major obstacle that historically forced these deals to be cash-only.

“The word on the street is: with clean data and delegated authority, SBA loans could close in 30 to 40 days instead of 90.”

 How to get an SBA loan in 2025

 

 

 

Getting an SBA loan has always been detailed—and the 2025 changes add new steps. Here’s a streamlined guide:

 

1. Check eligibility

Understand if your business size meets the new employee count definition. Confirm your credit and financials align with SBA standards.

2. Prepare your documentation

Have your financial statements, tax returns, and a solid business plan ready. For carve-outs, alternative docs like CPA-reviewed financials or sales tax records now work.

3. Bring at least 10% equity in cash

No more relying on partial or short-term seller notes. Seller notes only count if they are fully on standby for 10 years.

4. Find the right SBA lender

 

In June 2025, the SBA is set to reinstate delegated authority for non-bank lenders. This change is expected to speed up loan approvals by allowing these lenders—specifically non-bank SBA lenders like SBLCs—to issue decisions without waiting for SBA sign-off.

 

5. Understand personal guarantees

 

For partial buyouts with the seller retaining equity, be prepared for personal guarantees and co-borrower requirements.

 

6. Stay informed and plan ahead

 

SBA loan rules keep evolving. Work with experts who understand the nuances and can tailor strategies for your deal.

 

SBA loans now work for carve-outs

One of the major 2025 changes? SBA loans are now more flexible for carve-out acquisitions.

In the past, buyers looking to acquire parts of a business—like a franchise unit, healthcare branch, or law firm division—often couldn’t secure SBA financing due to the lack of standalone tax returns. These deals typically required cash or alternative funding.

That’s no longer the case.

Under the new rules, lenders can use overall business financials to evaluate a carve-out, even if the part being sold doesn’t have separate tax returns. This opens up SBA financing as a viable option for buyers and makes it easier for sellers to offload parts of a business.

These changes apply across industries, but carve-out-friendly sectors like franchise systems, dental groups, and digital agencies may benefit most from the added flexibility.

This rule finally makes SBA funding a viable option for partial business sales.

 What business owners should know before diving into an SBA deal

 

 

 

If you’re a seller, here’s the truth: You don’t need to do everything upfront on your own. At BBA, we shop your deal early and secure SBA pre-approval before it hits the market so qualified buyers can move fast.

 

“Time kills deals. So we get your business pre-approved before it even goes to market. That way, buyers can move fast—and you don’t lose momentum.”

 

Here’s how to get prepared for an SBA deal, especially with the changes coming in 2025:

 

• • Decide between full or partial buyout. Most of my clients prefer a full exit, so it’s critical to clarify this before approaching the bank. 

• • Clean up your cap table. Make sure your ownership structure is clear—whether you’re an LLC, C Corp, or S Corp.

• • Get your financials in order. Have 3 to 4 years of CPA-audited financials ready. Ensure your tax returns are prepared or reviewed by a CPA (not just a bookkeeper). SBA lenders are going to expect this level of detail.

• • Understand how your industry fits with the SBA. Some banks specialize in certain industries or regions, so knowing which lenders are the best fit for your business is key. 

• • Choose the right broker, CPA, and attorney. SBA deals are complicated. If you’re thinking about SBA financing, make sure your business broker really knows SBA deals. Also, you want a CPA who has prepared or at least reviewed your tax returns and P&Ls—bookkeepers alone won’t cut it. And your attorney? Make sure they understand SBA terms and lender requirements. That knowledge saves you headaches later. 

• • Know your lender’s preferences. Different lenders have different appetites. Some specialize in local businesses; others focus on manufacturing or construction. Knowing which banks focus on your industry can make the process much smoother and faster. 

These steps are critical—not just because of the 2025 changes, but because they’ve always been part of a successful SBA deal.

 Final thoughts: selling smart in 2025

 

The 2025 SBA loan changes mark a major shift in how small business deals are financed. Buyers now face stricter equity requirements. Lenders gain faster approvals. Sellers must adjust expectations to secure clean exits.

Selling your business isn’t just a transaction—it’s your legacy. These changes are significant, but they don’t have to be overwhelming. With the right strategy, we’ll help you protect what you’ve built, find the right buyer, and move on to what’s next—on your terms.

[/vc_column_text][/vc_column][/vc_row]