Is the SBA loan direct or a guaranteed bank loan? That could make a difference in subordination or an agreement to shate collateral. There are receivable programs in the General rate area your client is looking for but inventory standalone financing is generally in the teens. A lot will depend on the company's historic cash flow as defined by accountants, not gross sales.
This sounds like an arena you are not familiar with. I think you should choose to work with someone who will take the time to teach it to you so you may excell at these type of deals in the future.
I've been teaching finance for over 40 years.
Bob Shaw
rshaw@advancecredit.com
734-929-800