The SBA is in the process of making broad changes to its 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.
Want to learn more? Join Lynn Ozer, the SBA Queen, for a webinar this Wednesday. Click the button below to register.
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