StacksVerified U.S. regulatory reference

13 CFR §120.350

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Section 7(a)(15) of the Act authorizes SBA to guarantee a loan to a:
  1. (a)Qualified employee trust (“ESOP”) to:
    1. (1)Help finance the growth of its employer's small business; or
    2. (2)Purchase ownership or voting control of the employer; and a
  2. (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.