Main Street Employee Ownership 2.0 Act of 2024

This bill modifies the Small Business Act to support employee-owned businesses. It removes requirements for employee trusts and cooperatives (worker-owned businesses) seeking SBA loans, including banning mandatory equity contributions, extra valuations, and Treasury determination letters. The bill also prohibits requiring personal or entity guarantees for cooperative loans and allows them to use opinion letters instead of formal valuations. Additionally, it expands eligibility for disaster assistance to include cooperatives defined under the Act. These changes aim to streamline access to capital for worker-owned business models.