Source: https://www.law.cornell.edu/cfr/text/13/107.750
Timestamp: 2017-01-16 19:43:54
Document Index: 778441285

Matched Legal Cases: ['art 107', '§ 107', '§ 107', '§ 681', '§ 682', '§ 683', '§ 684', '§ 685', '§ 686', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§\u202f208', '§ 687', '§ 687', '§ 687', '§ 688', '§\u202f11']

13 CFR 107.750 - Conditions for financing a change of ownership of a Small Business. | US Law | LII / Legal Information Institute
CFR › Title 13 › Chapter I › Part 107 › Subpart G › Section 107.750 13 CFR 107.750 - Conditions for financing a change of ownership of a Small Business.
§ 107.750 Conditions for financing a change of ownership of a Small Business.
You may finance a change of ownership of a Small Business only under the conditions set forth in this section. (a) The Financing must: (1) Promote the sound development or preserve the existence of the Small Business; (2) Help create a Small Business as a result of a corporate divestiture; or (3) Facilitate ownership in a Disadvantaged Business. (b) The Resulting Concern (as defined in paragraph (c) of this section) must: (1) Be a Small Business under § 107.700; (2) Have 500 or fewer full-time equivalent employees; or meet one of the appropriate debt/equity ratio tests: (i) If you have outstanding Leverage, the Resulting Concern's ratio of debt to equity must be no more than 5 to 1; or (ii) If you have no outstanding Leverage, the Resulting Concern's ratio of debt to equity must be no more than 8 to 1. (c)
(1) The “Resulting Concern” is determined by viewing the business as though the change of ownership had already occurred, giving effect to all contemplated financing, mergers, and acquisitions. (2) For purposes of this section, “debt” means long-term debt, including contingent liabilities, but excluding accounts payable, operating leases, letters of credit, subordinated notes payable to the seller, any other liabilities approved for exclusion by SBA and short-term working capital loans (so long as the loans carry a zero balance for 30 consecutive days during the concern's fiscal year). (3) For purposes of this section, “equity” means common and preferred stock (corporation), contributed capital (partnership), or membership interests (limited liability company). This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 15 - COMMERCE AND TRADE§ 681 - Organization§ 682 - Capital requirements§ 683 - Borrowing operations§ 684 - Equity capital for small-business concerns§ 685 - Long-term loans to small-business concerns§ 686 - Aggregate limitations on amount of assistance to any single enterprise§ 687 - Operation and regulation of companies§ 687a - Revocation and suspension of licenses; cease and desist orders§ 687b - Investigations and examinations; power to subpena and take oaths and affirmations; aid of courts; examiners; reports§ 687c - Injunctions and other orders§ 687d - Conflicts of interest§ 687e - Removal or suspension of management officials§ 687f - Unlawful acts and omissions by officers, directors, employees, or agents§ 687g - Penalties and forfeitures§ 687h - Jurisdiction and service of process§ 687i, 687j - Repealed. Pub. L. 104–208, div. D, title II, § 208(h)(1)(E), Sept. 30, 1996, 110 Stat. 3009–747§ 687k - Guaranteed obligations not eligible for purchase by Federal Financing Bank§ 687l - Issuance and guarantee of trust certificates§ 687m - Periodic issuance of guarantees and trust certificates§ 688 - Repealed. Pub. L. 87–341, § 11(e), Oct. 3, 1961, 75 Stat. 756