Policy.

CFR · 2024-01-01 · US · Title 13

Section 7(a)(15) of the Act authorizes SBA to guarantee a loan to a: (a) Qualified employee trust (“ESOP”) to: (1) Help finance the growth of its employer's small business; or (2) Purchase ownership or voting control of the employer; and a (b) Small business concern, if the proceeds from the loan are only used to make a loan to a qualified employee trust that results in the qualified employee trust owning at least 51 percent of the small business concern.

official document · source cfr-2024 · id 13:§ 120.350