Non-recourse Loan For Specialty Property?

[James Lee]

I'm currently in the process of acquiring a funeral home business in California with a small number of partners. Since we're buying as a partnership, having some kind of personal guarantee is complicated and undesirable. Thus, is there a way to secure a non-recourse loan for this kind of business/property acquisition? The loan would be secured by the underlying real estate and business assets (hearse, cars, etc.) and we are willing to increase the down payment substantially in order to avoid the personal guarantee. Unfortunately, the loan size ($300k-$400k) is a bit too small for CMBS or conduit loans, but I was hoping someone would know of other methods to obtain this this kind of product. I greatly appreciate any help.