AmiSight 7/31: Webinar Coming Up: Changes in SBA Rules - How You Could Benefit
The SBA is in the process of making broad changes to their flagship 7a program: including rules aimed at facilitating business sales and ownership changes.
The changes are moving targets. The first stage is that the SBA has to finalize them, and then each participating lender must decide which rules they want to implement.
Want an update on the rules that previously prevented outsiders from purchasing a portion of a business? Or the regulations to allow company associates, 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. In the proposed rules, sellers will have two options to fulfill this requirement.
*Please note that if the SBA's SOP is not complete by today, July 31st, as intended, we will reschedule the Aug. 1st webinar for a later date and notify those that are registered of the change.