Section 7(a)(15) of the Act authorizes SBA to guarantee a loan to a:
(a) Qualified employee trust ("ESOP") to:(1) Help finance the growth of its employer's small business; or(2) Purchase ownership or voting control of the employer; and a(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. 87 FR 38908 , June 30, 2022 85 FR 7648 , 3/11/2020; 85 FR 80588 , 3/27/2020; 87 FR 38908 , 8/1/2022