13 CFR 120.353
§ 120.353 Eligibility.
United States · 13 CFR — Business Credit and Assistance · Status: effective
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- Citation
- 13 CFR 120.353, § 120.353 Eligibility, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52085
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.