Is a 504 project eligible that results from a change of ownership?
Yes, under the following circumstances: The 504 project finances only the acquisition of eligible long-term fixed assets; the acquisition of any other assets such as receivables or goodwill have to be financed by other means such as the 7(a) program; and if the change of ownership includes a stipulation that jobs are going to be retained because of the change of ownership, there has to be a reasonable assurance that the jobs would be lost without the change of ownership. This can be in the form of a statement from the seller to that effect, or some other certification acceptable to the SBA field office.
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