13 C.F.R. § 120.353 Eligibility.
Title 13 - Business Credit and Assistance
SBA may assist a qualified employee trust (or equivalent trust) that meets the requirements and conditions for an ESOP prescribed in all applicable IRS, Treasury and Department of Labor (DOL) regulations. In addition, the following conditions apply: (a) The small business must provide the funds needed by the trust to repay the loan; and (b) The small business must provide adequate collateral.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart C—Special Purpose Loans
§ 120.353 Eligibility.
