The SBA is in the process of making changes aimed at facilitating business sales and ownership changes.
One significant change is the elimination of a rule that previously prevented outsiders from purchasing a portion of a business. Now, external individuals or entities are allowed to acquire a share of a business.
The SBA has also modified the rules to allow associates of a business, such as existing employees or partners, to receive loan proceeds in specific scenarios.
Another change relates to the 10% equity contribution required in a complete change of ownership. Sellers now have two options to fulfill this requirement.
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