How to Buy a Business with $0 Down (Legally)

Is it really possible to buy a business with no money down?

In this episode, we sit down with an elite SBA lender from Fund X who reveals how the game has changed. With over $150M in annual SBA volume and a personal track record of 100% term sheet conversions, he shares real-world strategies for buying businesses, navigating new SBA rules, and how to avoid the hidden landmines that kill deals.

We discuss the shocking new flexibility in seller financing, how some buyers are acquiring businesses with as little as 2.5% down — and even 0% in select deals. Plus: what makes an SBA lender truly different, the truth about partial buyouts, the dangers of poor working capital planning, and why landlords can blow up your deal at the last minute.

This is your complete roadmap for SBA acquisition in 2025 — straight from someone who’s in the trenches.

00:00 Intro
01:00 How he became an SBA lender and built Fund X
03:10 What makes SBA lending different from traditional banking
04:00 How to choose the right SBA lender (and avoid the wrong ones)
07:30 Why most SBA lenders fail at acquisition deals
10:00 The biggest mistake buyers make when shopping for loans
11:45 New SBA rule: Buy with 0% down using seller financing
14:30 The difference between total purchase price vs total project cost
17:00 What’s really happening when you “get the debt”
19:45 How to negotiate a seller note that counts as equity
22:10 2 scenarios where Fund X allows ultra-low cash injection
24:40 Can you buy a business in another state?
26:30 Debt service ratios and what underwriters really look for
30:20 2023 vs. 2022 tax return problem (and how it affects approval)
33:15 SBA's new rules on partial ownership changes
36:10 Sellers keeping 1%-19% equity — good idea or red flag?
39:20 How to handle license issues with seller roll-over
42:00 The rise of creative SBA deal structures
44:30 Working capital: the #1 reason SBA deals fall apart
47:15 Real example: $3M business became a $4M deal overnight
50:00 Sellers who don’t understand working capital (and why brokers fail)
53:00 Landlord issues and lease requirements that can kill a deal
56:00 Deal killers: red flags in purchase agreements
58:00 How to split deposits and handle unfinished work in construction deals
01:00:00 Inventory counts, equipment issues, and due diligence traps
01:03:00 How vehicle fleets and maintenance costs can destroy your first year
01:06:00 Final advice for acquirers: why creativity and clarity win deals


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