{"data":{"id":"us/13-cfr-120.353","jurisdiction":"us","citation":"13 CFR 120.353","heading":"Eligibility.","body":"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:\n(a) The small business must provide the funds needed by the trust to repay the loan; and\n(b) The small business must provide adequate collateral.","path":["Title 13—Business Credit and Assistance","CHAPTER I—SMALL BUSINESS ADMINISTRATION","PART 120—BUSINESS LOANS","Subpart C—Special Purpose Loans"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-13.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:18Z","sha256":"cca1658d5f95ea8d0738ed186bcafb464ed422675db53b376387166c9cb31ed2","source_id":"us-cfr","stale":true,"prev":"us/13-cfr-120.352","next":"us/13-cfr-120.354"},"notice":"GroundRules: Original legal text. Not legal advice."}