Some of the most positive changes are:
*Sellers can now provide 24 months of seller financing on stand-by instead of the previous stand-by for the entire loan’s life. This stand-by can also be included as a down payment.
*Seller notes can now supply 100% of the down payment vs. 50% previously.
*The seller can now stay on as a “key employee”. This is particularly helpful when a buyer needs a specialty license to operate the business and the seller can provide that service.
*A big change is the removal of the buyer’s personal liquidity rule. This gives more flexibility to high net worth business buyers.