The Lender identifies collateral as thoroughly as for its comparable non-SBA loans, secures refinanced acquisition debt with at least the same collateral and priority, and takes no preference for itself: no piggyback structure where its (or another lender's) loan made within 90 days for a similar purpose sits senior to the SBA loan (a working-capital-only loan on trading assets or a pari passu lien of no shorter maturity is not piggyback), and the guaranty never substitutes for available collateral. It reviews recorded restrictions and engineering controls for their effect on value, has environmental indemnities running with the land removed or waived, and applies the fully secured test (fixed assets at the SOP's discounted values, a lien on the operating entity's receivables and inventory counted at a small percentage, vehicles above the SOP value threshold without existing liens). A working capital line senior on trading assets is allowed only if a stated share of its day-one availability funds part of the purchase. Where the loan is not fully secured it takes available equity in solely owned personal real estate (residential, investment and other commercial) of Co-Borrowers, 20%-or-more owners and guarantors (except supplemental), limited to the shortfall or 150% of the equity, skipping property with less than 25% equity documented from a source other than the personal financial statement, and counting property transferred to a spouse or minor child within 6 months.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.