13 C.F.R. § 120.202 Restrictions on loans for changes in ownership.
Title 13 - Business Credit and Assistance
A Borrower may not use 7(a) loan proceeds to purchase a portion of a business or a portion of another owner's interest. One or more current owners may use loan proceeds to purchase the entire interest of another current owner, or a Borrower can purchase ownership of an entire business. Maturities; Interest Rates; Loan and Guarantee Amounts
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart B—Policies Specific to 7(a) Loans
§ 120.202 Restrictions on loans for changes in ownership.
