120.880—Basic eligibility requirements.
In addition to the eligibility requirements specified in subpart A, to be an eligible Borrower for a 504 loan, a small business must:
(a)
Use the Project Property (except that an Eligible Passive Company may lease to an Operating Company); and
(b)
Together with its Affiliates, meet one of the size standards set forth in § 121.301(b) of this chapter.