US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs
Section A Ch 2: Special transaction structures – US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs

US SBA SOP 50 10 8.1 Lender and Development Company Loan Programs A2-A-trust: Section A Ch 2 Para A: EPC owned by a trust: trustor guaranty and trustee certifications

Where a trust owns all or part of the EPC, the SBA Lender treats every donor as a trustor for eligibility, obtains the trustor's personal guaranty and guaranties from beneficiaries who control the trust, and obtains the trustee's written certification that it has authority to act, the trust may borrow, pledge and lease to the OC, the quoted trust language is accurate, and the list of trustors and donors is complete and will be updated; the trustee also warrants the trust will not be revoked or substantially amended during the loan without SBA's written consent. An ESOP whose trust agreement bars it from guaranteeing cannot use the EPC form.

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