Sellers realtor doesn't believe that SBA covers goodwill/blue sky. What can I do here?
I have an absolutely amazing opportunity, but the realtor that is representing both myself and the seller doesn't think the SBA will cover any business value that doesn't have collateral. I'm worried he is feeding this misinformation to the seller and jeopardizing the deal. 


Longer Version

I had an opportunity to purchase a business on a large swath of land. A purchase agreement was signed in which I brought 5%, and the seller financed 15%. I also agreed for the realtor to represent us both, and put down $5000 earnest money. 

I then spoke to a bank a friend recommended, one the realtor recommended, and the sellers bank. My and the realtors banks fell through, but the sellers bank seemed sure they could make it work without a problem. They just needed to talk to their investor board, which only meets every two weeks, and just had their meeting. 

We waited for those two weeks, and finally after two days of calling I was told it wouldn't work, because the SBA would not let me pay the seller at the until the SBA was paid in full. When I pushed for why, I was told that it's just the way it was. 

Around this time, my financial contingency window expired, but I started reaching out to other banks, and explaining everything that happened. After taking to 5 different banks, I was finally told that it was because I, as the buyer, was bringing less than 10%. I passed this info on to the realtor, and asked for a little more time. The realtor came back a few days later with a different structure where the seller would hold the land, and only sell the business, and I would pay rent. This worked in my favor, as I could then bring a full 10% cash to the table. 

My problem now is this. I have a bank lined up to do the deal, and they have the SBA. I asked the realtor to speak with the seller, and ask for a contingency in which, if the business valuation comes in short, the seller will cover it. I offered very generous terms for it. However, the realtor believes that the SBA will only lend on actual assets it can collateralize, and he believes that the valuation will come in short for sure.

I'm worried he is feeding this to the seller, and that the seller will not sign a new purchase agreement now. 

Any ideas? What are my options?
[{"id": "ip5pmqb", "text": "Honestly just keep going. With your hustle you're sure to find a win-win-win. \n\nOther option, learn the conditions for loans better.", "replies": [], "depth": 1}, {"id": "ip6axr5", "text": "The bank will approve a loan with seller funding 15% of the down payment? I always thought you had to come up with the full down payment.", "replies": [{"id": "ip7psfp", "text": "I think in the 2nd scenario with just business purchase OP has 10% down.\n\nSBA will allow a certain amount of seller financing but they demand it's on SBA terms which most sellers don't like (I forget if it's full standstill or IO until SBA is paid).", "replies": [], "depth": 2}], "depth": 1}, {"id": "ip7i4t0", "text": "This is consistent with my experience getting an SBA backed loan. The down payment we made was the amount of the intangible business value and then put an additional 100k lien against our primary residence to secure the loan.", "replies": [{"id": "ip7nmqm", "text": "I'm not worried about that. My main concern is that the realtor seems to be trying to actively torpedo the deal.", "replies": [{"id": "ip7p104", "text": "You mentioned your concern was that the SBA won\u2019t cover any business value that doesn\u2019t have collateral and that you\u2019re worried they\u2019re feeding this misinformation to the seller. My point was that it isn\u2019t misinformation, and that it sounds like your realtor is being realistic.", "replies": [{"id": "ip7re7b", "text": "No, the SBA WILL cover it, but the realtor is telling the seller they won't, which is false.", "replies": [{"id": "ip7sopf", "text": "SBA will cover the amount they SAY it is (via business evaluation report); not whatever you agreed to pay.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ip7r7fi", "text": "&gt;if the business valuation comes in short, the seller will cover it. I offered very generous terms for it. However, the realtor believes that the SBA will only lend on actual assets it can collateralize\n\nThe SBA *will* lend on the business evaluation figure; but not more than that figure. When you asked for the seller to \"cover it\" you want him to cut his price to match what the SBA (really approved third party business appraiser) says the business is worth. If the seller knows it's not going to eval/appraise for what you agreed to pay (selling at a premium, cheating on his taxes, low multiple industry) then why would they sign?", "replies": [], "depth": 1}, {"id": "ip84juo", "text": "The seller is wrong. SBA literally doesn\u2019t give a shit about lack of collateral on biz acquisitions until you get to like $3mm. \n\nMost banks can also do the 10% down, which it appears you found out.", "replies": [], "depth": 1}]