Main Street Employee Ownership Act

The Main Street Employee Ownership Act Becomes Law!

News Story: 

After following its progress through Congress over the past year, the Main Street Employee Ownership Act was signed into law on August 12th!

Among other elements, the Act makes the conversion of a business to employee ownership via a worker co-op or Employee Stock Ownership Plan (ESOP) eligible for Small Business Administration (SBA) 7(a) loans. Such loans, which the SBA guarantees up to 85% up to $5 million, will be a significant new tool in the box for business owners considering selling to their employees.

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