# Title 13

## PART 120

## Part 120 - Business Loans

- Authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), and note, 650, 657t, and note, 657u, and note, 687(f), 696(3) and (7), and note, and 697(a) and (e), and note.
- Source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.

13:1.0.1.1.16.0.189 | SUBJGRP 189 | General Descriptions of SBA's Business Loan Programs | |

13:1.0.1.1.16.0.189.1 | SECTION 120.1 | 120.1 Which loan programs does this part cover | |

13:1.0.1.1.16.0.189.2 | SECTION 120.2 | 120.2 Descriptions of the business loan programs. | |

13:1.0.1.1.16.0.189.3 | SECTION 120.3 | 120.3 Pilot programs. | |

13:1.0.1.1.16.0.190 | SUBJGRP 190 | Definitions | |

13:1.0.1.1.16.0.190.4 | SECTION 120.10 | 120.10 Definitions. | |

13:1.0.1.1.16.1 | SUBPART A | Subpart A - Policies Applying to All Business Loans | |

13:1.0.1.1.16.1.191 | SUBJGRP 191 | Eligibility Requirements | |

13:1.0.1.1.16.1.191.1 | SECTION 120.100 | 120.100 What are the basic eligibility requirements for all applicants for SBA business loans | |

13:1.0.1.1.16.1.191.2 | SECTION 120.101 | 120.101 Credit not available elsewhere. | |

13:1.0.1.1.16.1.191.3 | SECTION 120.102 | 120.102 Funds not available from alternative sources, including the personal resources of owners. | |

13:1.0.1.1.16.1.191.4 | SECTION 120.103 | 120.103 Are farm enterprises eligible | |

13:1.0.1.1.16.1.191.5 | SECTION 120.104 | 120.104 Are businesses financed by SBICs eligible | |

13:1.0.1.1.16.1.191.6 | SECTION 120.105 | 120.105 Special consideration for veterans. | |

13:1.0.1.1.16.1.192 | SUBJGRP 192 | Ineligible Businesses and Eligible Passive Companies | |

13:1.0.1.1.16.1.192.7 | SECTION 120.110 | 120.110 What businesses are ineligible for SBA business loans | |

13:1.0.1.1.16.1.192.8 | SECTION 120.111 | 120.111 What conditions must an Eligible Passive Company satisfy | |

13:1.0.1.1.16.1.193 | SUBJGRP 193 | Uses of Proceeds | |

13:1.0.1.1.16.1.193.9 | SECTION 120.120 | 120.120 What are eligible uses of proceeds | |

13:1.0.1.1.16.1.193.10 | SECTION 120.130 | 120.130 Restrictions on uses of proceeds. | |

13:1.0.1.1.16.1.193.11 | SECTION 120.131 | 120.131 Leasing part of new construction or existing building to another business. | |

13:1.0.1.1.16.1.194 | SUBJGRP 194 | Ethical Requirements | |

13:1.0.1.1.16.1.194.12 | SECTION 120.140 | 120.140 What ethical requirements apply to participants | |

13:1.0.1.1.16.1.195 | SUBJGRP 195 | Credit Criteria for SBA Loans | |

13:1.0.1.1.16.1.195.13 | SECTION 120.150 | 120.150 What are SBA's lending criteria | |

13:1.0.1.1.16.1.195.14 | SECTION 120.151 | 120.151 What is the statutory limit for total loans to a Borrower | |

13:1.0.1.1.16.1.195.15 | SECTION 120.160 | 120.160 Loan conditions. | |

13:1.0.1.1.16.1.196 | SUBJGRP 196 | Requirements Imposed Under Other Laws and Orders | |

13:1.0.1.1.16.1.196.16 | SECTION 120.170 | 120.170 Flood insurance. | |

13:1.0.1.1.16.1.196.17 | SECTION 120.171 | 120.171 Compliance with child support obligations. | |

13:1.0.1.1.16.1.196.18 | SECTION 120.172 | 120.172 Flood-plain and wetlands management. | |

13:1.0.1.1.16.1.196.19 | SECTION 120.173 | 120.173 Lead-based paint. | |

13:1.0.1.1.16.1.196.20 | SECTION 120.174 | 120.174 Earthquake hazards. | |

13:1.0.1.1.16.1.196.21 | SECTION 120.175 | 120.175 Coastal barrier islands. | |

13:1.0.1.1.16.1.196.22 | SECTION 120.176 | 120.176 Compliance with other laws. | |

13:1.0.1.1.16.1.197 | SUBJGRP 197 | Applicability and Enforceability of Loan Program Requirements | |

13:1.0.1.1.16.1.197.23 | SECTION 120.180 | 120.180 Compliance with Loan Program Requirements. | |

13:1.0.1.1.16.1.197.24 | SECTION 120.181 | 120.181 Status of Lenders and CDCs. | |

13:1.0.1.1.16.1.198 | SUBJGRP 198 | Loan Applications | |

13:1.0.1.1.16.1.198.25 | SECTION 120.190 | 120.190 Where does an applicant apply for a loan | |

13:1.0.1.1.16.1.198.26 | SECTION 120.191 | 120.191 The contents of a business loan application. | |

13:1.0.1.1.16.1.198.27 | SECTION 120.192 | 120.192 Approval or denial. | |

13:1.0.1.1.16.1.198.28 | SECTION 120.193 | 120.193 Reconsideration after denial. | |

13:1.0.1.1.16.1.199 | SUBJGRP 199 | Computerized SBA Forms | |

13:1.0.1.1.16.1.199.29 | SECTION 120.194 | 120.194 [Reserved] | |

13:1.0.1.1.16.1.200 | SUBJGRP 200 | Reporting | |

13:1.0.1.1.16.1.200.30 | SECTION 120.195 | 120.195 Disclosure of fees. | |

13:1.0.1.1.16.1.200.31 | SECTION 120.197 | 120.197 Notifying SBA's Office of Inspector General of suspected fraud. | |

13:1.0.1.1.16.2 | SUBPART B | Subpart B - Policies Specific to 7(a) Loans | |

13:1.0.1.1.16.2.201 | SUBJGRP 201 | Bonding Requirements | |

13:1.0.1.1.16.2.201.1 | SECTION 120.200 | 120.200 What bonding requirements exist during construction | |

13:1.0.1.1.16.2.202 | SUBJGRP 202 | Limitations on Use of Proceeds | |

13:1.0.1.1.16.2.202.2 | SECTION 120.201 | 120.201 Refinancing unsecured or undersecured loans. | |

13:1.0.1.1.16.2.202.3 | SECTION 120.202 | 120.202 Restrictions on loans for changes in ownership. | |

13:1.0.1.1.16.2.203 | SUBJGRP 203 | Maturities; Interest Rates; Loan and Guarantee Amounts | |

13:1.0.1.1.16.2.203.4 | SECTION 120.210 | 120.210 What percentage of a loan may SBA guarantee | |

13:1.0.1.1.16.2.203.5 | SECTION 120.211 | 120.211 What limits are there on the amounts of direct loans | |

13:1.0.1.1.16.2.203.6 | SECTION 120.212 | 120.212 What limits are there on loan maturities | |

13:1.0.1.1.16.2.203.7 | SECTION 120.213 | 120.213 What fixed interest rates may a Lender charge | |

13:1.0.1.1.16.2.203.8 | SECTION 120.214 | 120.214 What conditions apply for variable interest rates | |

13:1.0.1.1.16.2.203.9 | SECTION 120.215 | 120.215 What interest rates apply to smaller loans | |

13:1.0.1.1.16.2.204 | SUBJGRP 204 | Fees for Guaranteed Loans | |

13:1.0.1.1.16.2.204.10 | SECTION 120.220 | 120.220 Fees that Lender pays SBA. | |

13:1.0.1.1.16.2.204.11 | SECTION 120.221 | 120.221 Fees and expenses that the Lender may collect from an Applicant or Borrower. | |

13:1.0.1.1.16.2.204.12 | SECTION 120.222 | 120.222 Prohibition on sharing premiums for secondary market sales. | |

13:1.0.1.1.16.2.204.13 | SECTION 120.223 | 120.223 Subsidy recoupment fee payable to SBA by Borrower. | |

13:1.0.1.1.16.3 | SUBPART C | Subpart C - Special Purpose Loans | |

13:1.0.1.1.16.3.205 | SUBJGRP 205 | Disabled Assistance Loan Program (DAL) | |

13:1.0.1.1.16.3.205.1 | SECTION 120.300 | 120.300 Statutory authority. | |

13:1.0.1.1.16.3.205.2 | SECTION 120.310 | 120.310 What assistance is available for the disabled | |

13:1.0.1.1.16.3.205.3 | SECTION 120.311 | 120.311 Definitions. | |

13:1.0.1.1.16.3.205.4 | SECTION 120.312 | 120.312 DAL-1 use of proceeds and other program conditions. | |

13:1.0.1.1.16.3.205.5 | SECTION 120.313 | 120.313 DAL-2 use of proceeds and other program conditions. | |

13:1.0.1.1.16.3.205.6 | SECTION 120.314 | 120.314 Resolving doubts about creditworthiness. | |

13:1.0.1.1.16.3.205.7 | SECTION 120.315 | 120.315 Interest rate and loan limit. | |

13:1.0.1.1.16.3.206 | SUBJGRP 206 | Businesses Owned by Low Income Individuals | |

13:1.0.1.1.16.3.206.8 | SECTION 120.320 | 120.320 Policy. | |

13:1.0.1.1.16.3.207 | SUBJGRP 207 | Energy Conservation | |

13:1.0.1.1.16.3.207.9 | SECTION 120.330 | 120.330 Who is eligible for an energy conservation loan | |

13:1.0.1.1.16.3.207.10 | SECTION 120.331 | 120.331 What devices or techniques are eligible for a loan | |

13:1.0.1.1.16.3.207.11 | SECTION 120.332 | 120.332 What are the eligible uses of proceeds | |

13:1.0.1.1.16.3.207.12 | SECTION 120.333 | 120.333 Are there any special credit criteria | |

13:1.0.1.1.16.3.208 | SUBJGRP 208 | Export Working Capital Program (EWCP) | |

13:1.0.1.1.16.3.208.13 | SECTION 120.340 | 120.340 What is the Export Working Capital Program | |

13:1.0.1.1.16.3.208.14 | SECTION 120.341 | 120.341 Who is eligible | |

13:1.0.1.1.16.3.208.15 | SECTION 120.342 | 120.342 What are eligible uses of proceeds | |

13:1.0.1.1.16.3.208.16 | SECTION 120.343 | 120.343 Collateral. | |

13:1.0.1.1.16.3.208.17 | SECTION 120.344 | 120.344 Unique requirements of the EWCP. | |

13:1.0.1.1.16.3.209 | SUBJGRP 209 | International Trade Loans | |

13:1.0.1.1.16.3.209.18 | SECTION 120.345 | 120.345 Policy. | |

13:1.0.1.1.16.3.209.19 | SECTION 120.346 | 120.346 Eligibility. | |

13:1.0.1.1.16.3.209.20 | SECTION 120.347 | 120.347 Use of proceeds. | |

13:1.0.1.1.16.3.209.21 | SECTION 120.348 | 120.348 Amount of guarantee. | |

13:1.0.1.1.16.3.209.22 | SECTION 120.349 | 120.349 Collateral. | |

13:1.0.1.1.16.3.210 | SUBJGRP 210 | Qualified Employee Trusts (ESOP) | |

13:1.0.1.1.16.3.210.23 | SECTION 120.350 | 120.350 Policy. | |

13:1.0.1.1.16.3.210.24 | SECTION 120.351 | 120.351 Definitions. | |

13:1.0.1.1.16.3.210.25 | SECTION 120.352 | 120.352 Use of proceeds. | |

13:1.0.1.1.16.3.210.26 | SECTION 120.353 | 120.353 Eligibility. | |

13:1.0.1.1.16.3.210.27 | SECTION 120.354 | 120.354 Creditworthiness. | |

13:1.0.1.1.16.3.211 | SUBJGRP 211 | Veterans Loan Program | |

13:1.0.1.1.16.3.211.28 | SECTION 120.360 | 120.360 Which veterans are eligible | |

13:1.0.1.1.16.3.211.29 | SECTION 120.361 | 120.361 Other conditions of eligibility. | |

13:1.0.1.1.16.3.212 | SUBJGRP 212 | Pollution Control Program | |

13:1.0.1.1.16.3.212.30 | SECTION 120.370 | 120.370 Policy. | |

13:1.0.1.1.16.3.213 | SUBJGRP 213 | Loans to Participants in the 8(a) Program | |

13:1.0.1.1.16.3.213.31 | SECTION 120.375 | 120.375 Policy. | |

13:1.0.1.1.16.3.213.32 | SECTION 120.376 | 120.376 Special requirements. | |

13:1.0.1.1.16.3.213.33 | SECTION 120.377 | 120.377 Use of proceeds. | |

13:1.0.1.1.16.3.214 | SUBJGRP 214 | Defense Economic Transition Assistance | |

13:1.0.1.1.16.3.214.34 | SECTION 120.380 | 120.380 Program. | |

13:1.0.1.1.16.3.214.35 | SECTION 120.381 | 120.381 Eligibility. | |

13:1.0.1.1.16.3.214.36 | SECTION 120.382 | 120.382 Repayment ability. | |

13:1.0.1.1.16.3.214.37 | SECTION 120.383 | 120.383 Restrictions on loan processing. | |

13:1.0.1.1.16.3.215 | SUBJGRP 215 | CapLines Program | |

13:1.0.1.1.16.3.215.38 | SECTION 120.390 | 120.390 Revolving credit. | |

13:1.0.1.1.16.3.216 | SUBJGRP 216 | Builders Loan Program | |

13:1.0.1.1.16.3.216.39 | SECTION 120.391 | 120.391 What is the Builders Loan Program | |

13:1.0.1.1.16.3.216.40 | SECTION 120.392 | 120.392 Who may apply | |

13:1.0.1.1.16.3.216.41 | SECTION 120.393 | 120.393 Are there special application requirements | |

13:1.0.1.1.16.3.216.42 | SECTION 120.394 | 120.394 What are the eligible uses of proceeds | |

13:1.0.1.1.16.3.216.43 | SECTION 120.395 | 120.395 What is SBA's collateral position | |

13:1.0.1.1.16.3.216.44 | SECTION 120.396 | 120.396 What is the term of the loan | |

13:1.0.1.1.16.3.216.45 | SECTION 120.397 | 120.397 Are there any special restrictions | |

13:1.0.1.1.16.3.217 | SUBJGRP 217 | America's Recovery Capital (Business Stabilization) Loan Program - ARC Loan Program | |

13:1.0.1.1.16.3.217.46 | SECTION 120.398 | 120.398 America's Recovery Capital (ARC) Loan Program. | |

13:1.0.1.1.16.4 | SUBPART D | Subpart D - Lenders | |

13:1.0.1.1.16.4.218 | SUBJGRP 218 | Participation Criteria | |

13:1.0.1.1.16.4.218.1 | SECTION 120.400 | 120.400 Loan Guarantee Agreements. | |

13:1.0.1.1.16.4.218.2 | SECTION 120.410 | 120.410 Requirements for all participating Lenders. | |

13:1.0.1.1.16.4.218.3 | SECTION 120.411 | 120.411 Preferences. | |

13:1.0.1.1.16.4.218.4 | SECTION 120.412 | 120.412 Other services Lenders may provide Borrowers. | |

13:1.0.1.1.16.4.218.5 | SECTION 120.413 | 120.413 Advertisement of relationship with SBA. | |

13:1.0.1.1.16.4.219 | SUBJGRP 219 | Participating Lender Financings | |

13:1.0.1.1.16.4.219.6 | SECTION 120.420 | 120.420 Definitions. | |

13:1.0.1.1.16.4.219.7 | SECTION 120.421 | 120.421 Which Lenders may securitize | |

13:1.0.1.1.16.4.219.8 | SECTION 120.422 | 120.422 Are all securitizations subject to this subpart | |

13:1.0.1.1.16.4.219.9 | SECTION 120.423 | 120.423 Which 7(a) loans may a Lender securitize | |

13:1.0.1.1.16.4.219.10 | SECTION 120.424 | 120.424 What are the basic conditions a Lender must meet to securitize | |

13:1.0.1.1.16.4.219.11 | SECTION 120.425 | 120.425 What are the minimum elements that SBA will require before consenting to a securitization | |

13:1.0.1.1.16.4.219.12 | SECTION 120.426 | 120.426 What action will SBA take if a securitizer transfers the subordinated tranche prior to the termination of the holding period | |

13:1.0.1.1.16.4.219.13 | SECTION 120.427 | 120.427 Will SBA approve a securitization application from a capital impaired Securitizer | |

13:1.0.1.1.16.4.219.14 | SECTION 120.428 | 120.428 What happens to a securitizer's other PLP responsibilities if SBA suspends its PLP approval privilege | |

13:1.0.1.1.16.4.220 | SUBJGRP 220 | Other Conveyances | |

13:1.0.1.1.16.4.220.15 | SECTION 120.430 | 120.430 What conveyances are covered by §§ 120.430 through 120.435 | |

13:1.0.1.1.16.4.220.16 | SECTION 120.431 | 120.431 Which Lenders may sell, sell participations in, or pledge 7(a) loans | |

13:1.0.1.1.16.4.220.17 | SECTION 120.432 | 120.432 Under what circumstances does this subpart permit sales of, or sales of participating interests in, 7(a) loans | |

13:1.0.1.1.16.4.220.18 | SECTION 120.433 | 120.433 What are SBA's other requirements for sales and sales of participating interests | |

13:1.0.1.1.16.4.220.19 | SECTION 120.434 | 120.434 What are SBA's requirements for loan pledges | |

13:1.0.1.1.16.4.220.20 | SECTION 120.435 | 120.435 Which loan pledges do not require notice to or consent by SBA | |

13:1.0.1.1.16.4.221 | SUBJGRP 221 | Delegated Authority Criteria | |

13:1.0.1.1.16.4.221.21 | SECTION 120.440 | 120.440 How does a 7(a) Lender obtain delegated authority | |

13:1.0.1.1.16.4.222 | SUBJGRP 222 | SBA Express and Export Express Loan Programs | |

13:1.0.1.1.16.4.222.22 | SECTION 120.441 | 120.441 SBA Express and Export Express Loan Programs. | |

13:1.0.1.1.16.4.222.23 | SECTION 120.442 | 120.442 Process to obtain or renew SBA Express or Export Express authority. | |

13:1.0.1.1.16.4.222.24 | SECTION 120.443 | 120.443 SBA Express and Export Express loan processing requirements. | |

13:1.0.1.1.16.4.222.25 | SECTION 120.444 | 120.444 Eligible uses of SBA Express and Export Express loan proceeds. | |

13:1.0.1.1.16.4.222.26 | SECTION 120.445 | 120.445 Terms and conditions of SBA Express and Export Express loans. | |

13:1.0.1.1.16.4.222.27 | SECTION 120.446 | 120.446 SBA Express and Export Express loan closing, servicing, liquidation, and litigation requirements. | |

13:1.0.1.1.16.4.222.28 | SECTION 120.447 | 120.447 Oversight of SBA Express and Export Express Lenders. | |

13:1.0.1.1.16.4.223 | SUBJGRP 223 | Preferred Lenders Program (PLP) | |

13:1.0.1.1.16.4.223.29 | SECTION 120.450 | 120.450 What is the Preferred Lenders Program | |

13:1.0.1.1.16.4.223.30 | SECTION 120.451 | 120.451 [Reserved] | |

13:1.0.1.1.16.4.223.31 | SECTION 120.452 | 120.452 What are the requirements of PLP loan processing | |

13:1.0.1.1.16.4.223.32 | SECTION 120.453 | 120.453 Responsibilities of PLP Lenders for servicing and liquidating 7(a) loans. | |

13:1.0.1.1.16.4.224 | SUBJGRP 224 | SBA Supervised Lenders | |

13:1.0.1.1.16.4.224.33 | SECTION 120.460 | 120.460 What are SBA's additional requirements for SBA Supervised Lenders | |

13:1.0.1.1.16.4.224.34 | SECTION 120.461 | 120.461 What are SBA's additional requirements for SBA Supervised Lenders concerning records | |

13:1.0.1.1.16.4.224.35 | SECTION 120.462 | 120.462 What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders | |

13:1.0.1.1.16.4.224.36 | SECTION 120.463 | 120.463 Regulatory accounting - What are SBA's regulatory accounting requirements for SBA Supervised Lenders | |

13:1.0.1.1.16.4.224.37 | SECTION 120.464 | 120.464 Reports to SBA. | |

13:1.0.1.1.16.4.224.38 | SECTION 120.465 | 120.465 Civil penalty for late submission of required reports. | |

13:1.0.1.1.16.4.225 | SUBJGRP 225 | Small Business Lending Companies (SBLC) | |

13:1.0.1.1.16.4.225.39 | SECTION 120.470 | 120.470 What are SBA's additional requirements for SBLCs | |

13:1.0.1.1.16.4.225.40 | SECTION 120.471 | 120.471 What are the minimum capital requirements for SBLCs | |

13:1.0.1.1.16.4.225.41 | SECTION 120.472 | 120.472 Higher individual minimum capital requirement. | |

13:1.0.1.1.16.4.225.42 | SECTION 120.473 | 120.473 Procedures for determining individual minimum capital requirement. | |

13:1.0.1.1.16.4.225.43 | SECTION 120.474 | 120.474 Relation to other actions. | |

13:1.0.1.1.16.4.225.44 | SECTION 120.475 | 120.475 Change of ownership or control. | |

13:1.0.1.1.16.4.225.45 | SECTION 120.476 | 120.476 Prohibited financing. | |

13:1.0.1.1.16.4.225.46 | SECTION 120.490 | 120.490 Audits. | |

13:1.0.1.1.16.5 | SUBPART E | Subpart E - Servicing, Liquidation and Debt Collection Litigation of 7(a) and 504 Loans | |

13:1.0.1.1.16.5.226 | SUBJGRP 226 | SBA'S Purchase of a Guaranteed Portion | |

13:1.0.1.1.16.5.226.1 | SECTION 120.520 | 120.520 Purchase of 7(a) loan guarantees. | |

13:1.0.1.1.16.5.226.2 | SECTION 120.521 | 120.521 What interest rate applies after SBA purchases its guaranteed portion | |

13:1.0.1.1.16.5.226.3 | SECTION 120.522 | 120.522 Payment of accrued interest to the Lender or Registered Holder when SBA purchases the guaranteed portion. | |

13:1.0.1.1.16.5.226.4 | SECTION 120.523 | 120.523 What is the “earliest uncured payment default” | |

13:1.0.1.1.16.5.226.5 | SECTION 120.524 | 120.524 When is SBA released from liability on its guarantee | |

13:1.0.1.1.16.5.226.6 | SECTION 120.530 | 120.530 Deferment of payment. | |

13:1.0.1.1.16.5.226.7 | SECTION 120.531 | 120.531 Extension of maturity. | |

13:1.0.1.1.16.5.226.8 | SECTION 120.532 | 120.532 What is a loan Moratorium | |

13:1.0.1.1.16.5.226.9 | SECTION 120.535 | 120.535 Standards for Lender and CDC loan servicing, loan liquidation and debt collection litigation. | |

13:1.0.1.1.16.5.226.10 | SECTION 120.536 | 120.536 Servicing and liquidation actions that require the prior written consent of SBA. | |

13:1.0.1.1.16.5.226.11 | SECTION 120.540 | 120.540 Liquidation and litigation plans. | |

13:1.0.1.1.16.5.226.12 | SECTION 120.541 | 120.541 Time for approval by SBA. | |

13:1.0.1.1.16.5.226.13 | SECTION 120.542 | 120.542 Payment by SBA of legal fees and other expenses. | |

13:1.0.1.1.16.5.226.14 | SECTION 120.545 | 120.545 What are SBA's policies concerning the liquidation of collateral and the sale of business loans and physical disaster assistance loans, physical disaster business loans and economic injury disaster loans | |

13:1.0.1.1.16.5.226.15 | SECTION 120.546 | 120.546 Loan asset sales. | |

13:1.0.1.1.16.5.227 | SUBJGRP 227 | Homestead Protection for Farmers | |

13:1.0.1.1.16.5.227.16 | SECTION 120.550 | 120.550 What is homestead protection for farmers | |

13:1.0.1.1.16.5.227.17 | SECTION 120.551 | 120.551 Who is eligible for homestead protection | |

13:1.0.1.1.16.5.227.18 | SECTION 120.552 | 120.552 Lease. | |

13:1.0.1.1.16.5.227.19 | SECTION 120.553 | 120.553 Appeal. | |

13:1.0.1.1.16.5.227.20 | SECTION 120.554 | 120.554 Conflict of laws. | |

13:1.0.1.1.16.6 | SUBPART F | Subpart F - Secondary Market | |

13:1.0.1.1.16.6.228 | SUBJGRP 228 | Fiscal and Transfer Agent (FTA) | |

13:1.0.1.1.16.6.228.1 | SECTION 120.600 | 120.600 Definitions. | |

13:1.0.1.1.16.6.228.2 | SECTION 120.601 | 120.601 SBA Secondary Market. | |

13:1.0.1.1.16.6.229 | SUBJGRP 229 | Certificates | |

13:1.0.1.1.16.6.229.3 | SECTION 120.610 | 120.610 Form and terms of Certificates. | |

13:1.0.1.1.16.6.229.4 | SECTION 120.611 | 120.611 Pools backing Pool Certificates. | |

13:1.0.1.1.16.6.229.5 | SECTION 120.612 | 120.612 Loans eligible to back Certificates. | |

13:1.0.1.1.16.6.229.6 | SECTION 120.613 | 120.613 Secondary Participation Guarantee Agreement. | |

13:1.0.1.1.16.6.230 | SUBJGRP 230 | The SBA Guarantee of a Certificate | |

13:1.0.1.1.16.6.230.7 | SECTION 120.620 | 120.620 SBA guarantee of a Pool Certificate. | |

13:1.0.1.1.16.6.230.8 | SECTION 120.621 | 120.621 SBA guarantee of an Individual Certificate. | |

13:1.0.1.1.16.6.231 | SUBJGRP 231 | Pool Assemblers | |

13:1.0.1.1.16.6.231.9 | SECTION 120.630 | 120.630 Qualifications to be a Pool Assembler. | |

13:1.0.1.1.16.6.231.10 | SECTION 120.631 | 120.631 Suspension or termination of Pool Assembler. | |

13:1.0.1.1.16.6.232 | SUBJGRP 232 | Miscellaneous Provisions | |

13:1.0.1.1.16.6.232.11 | SECTION 120.640 | 120.640 Administration of the Pool and Individual Certificates. | |

13:1.0.1.1.16.6.232.12 | SECTION 120.641 | 120.641 Disclosure to purchasers. | |

13:1.0.1.1.16.6.232.13 | SECTION 120.642 | 120.642 Requirements before the FTA issues Pool Certificates. | |

13:1.0.1.1.16.6.232.14 | SECTION 120.643 | 120.643 Requirements before the FTA issues Individual Certificates. | |

13:1.0.1.1.16.6.232.15 | SECTION 120.644 | 120.644 Transfers of Certificates. | |

13:1.0.1.1.16.6.232.16 | SECTION 120.645 | 120.645 Redemption of Certificates. | |

13:1.0.1.1.16.6.232.17 | SECTION 120.650 | 120.650 Registration duties of FTA in Secondary Market. | |

13:1.0.1.1.16.6.232.18 | SECTION 120.651 | 120.651 Claim to FTA by Registered Holder to replace Certificate. | |

13:1.0.1.1.16.6.232.19 | SECTION 120.652 | 120.652 FTA fees. | |

13:1.0.1.1.16.6.233 | SUBJGRP 233 | Suspension or Revocation of Participant in Secondary Market | |

13:1.0.1.1.16.6.233.20 | SECTION 120.660 | 120.660 Suspension or revocation. | |

13:1.0.1.1.16.7 | SUBPART G | Subpart G - Microloan Program | |

13:1.0.1.1.16.7.234.1 | SECTION 120.700 | 120.700 What is the Microloan Program | |

13:1.0.1.1.16.7.234.2 | SECTION 120.701 | 120.701 Definitions. | |

13:1.0.1.1.16.7.234.3 | SECTION 120.702 | 120.702 Are there limitations on who can be an Intermediary or on where an Intermediary may operate | |

13:1.0.1.1.16.7.234.4 | SECTION 120.703 | 120.703 How does an organization apply to become an Intermediary | |

13:1.0.1.1.16.7.234.5 | SECTION 120.704 | 120.704 How are applications evaluated | |

13:1.0.1.1.16.7.234.6 | SECTION 120.705 | 120.705 What is a Specialized Intermediary | |

13:1.0.1.1.16.7.234.7 | SECTION 120.706 | 120.706 What are the terms and conditions of an SBA loan to an Intermediary | |

13:1.0.1.1.16.7.234.8 | SECTION 120.707 | 120.707 What conditions apply to loans by Intermediaries to Microloan borrowers | |

13:1.0.1.1.16.7.234.9 | SECTION 120.708 | 120.708 What is the Intermediary's financial contribution | |

13:1.0.1.1.16.7.234.10 | SECTION 120.709 | 120.709 What is the Microloan Revolving Fund | |

13:1.0.1.1.16.7.234.11 | SECTION 120.710 | 120.710 What is the Loan Loss Reserve Fund | |

13:1.0.1.1.16.7.234.12 | SECTION 120.711 | 120.711 What rules govern Intermediaries | |

13:1.0.1.1.16.7.234.13 | SECTION 120.712 | 120.712 How does an Intermediary get a grant to assist Microloan borrowers | |

13:1.0.1.1.16.7.234.14 | SECTION 120.713 | 120.713 Does SBA provide technical assistance to Intermediaries | |

13:1.0.1.1.16.7.234.15 | SECTION 120.714 | 120.714 How are grants made to non-lending technical assistance providers (NTAP) | |

13:1.0.1.1.16.7.234.16 | SECTION 120.715 | 120.715 Does SBA guarantee any loans an Intermediary obtains from another source | |

13:1.0.1.1.16.7.234.17 | SECTION 120.716 | 120.716 What is the minimum number of loans an Intermediary must make each Federal fiscal year | |

13:1.0.1.1.16.8 | SUBPART H | Subpart H - Development Company Loan Program (504) | |

13:1.0.1.1.16.8.234 | SUBJGRP 234 | Certification Procedures To Become a CDC | |

13:1.0.1.1.16.8.234.1 | SECTION 120.800 | 120.800 The purpose of the 504 program. | |

13:1.0.1.1.16.8.234.2 | SECTION 120.801 | 120.801 How a 504 Project is financed. | |

13:1.0.1.1.16.8.234.3 | SECTION 120.802 | 120.802 Definitions. | |

13:1.0.1.1.16.8.234.4 | SECTION 120.810 | 120.810 Applications for certification as a CDC. | |

13:1.0.1.1.16.8.234.5 | SECTION 120.812 | 120.812 Probationary period for newly certified CDCs. | |

13:1.0.1.1.16.8.235 | SUBJGRP 235 | Requirements for CDC Certification and Operation | |

13:1.0.1.1.16.8.235.6 | SECTION 120.816 | 120.816 CDC non-profit status and good standing. | |

13:1.0.1.1.16.8.235.7 | SECTION 120.818 | 120.818 Applicability to existing for-profit CDCs. | |

13:1.0.1.1.16.8.235.8 | SECTION 120.820 | 120.820 CDC Affiliation. | |

13:1.0.1.1.16.8.235.9 | SECTION 120.821 | 120.821 CDC Area of Operations. | |

13:1.0.1.1.16.8.235.10 | SECTION 120.823 | 120.823 CDC Board of Directors. | |

13:1.0.1.1.16.8.235.11 | SECTION 120.824 | 120.824 Professional management and staff, and contracts for services. | |

13:1.0.1.1.16.8.235.12 | SECTION 120.825 | 120.825 Financial ability to operate. | |

13:1.0.1.1.16.8.235.13 | SECTION 120.826 | 120.826 Basic requirements for operating a CDC. | |

13:1.0.1.1.16.8.235.14 | SECTION 120.827 | 120.827 Other services a CDC may provide to small businesses. | |

13:1.0.1.1.16.8.235.15 | SECTION 120.828 | 120.828 Minimum level of 504 loan activity and restrictions on portfolio concentrations. | |

13:1.0.1.1.16.8.235.16 | SECTION 120.829 | 120.829 Job Opportunity average a CDC must maintain. | |

13:1.0.1.1.16.8.235.17 | SECTION 120.830 | 120.830 Reports a CDC must submit. | |

13:1.0.1.1.16.8.236 | SUBJGRP 236 | Extending a CDC'S Area of Operations | |

13:1.0.1.1.16.8.236.18 | SECTION 120.835 | 120.835 Application to expand an Area of Operations. | |

13:1.0.1.1.16.8.236.19 | SECTION 120.837 | 120.837 SBA decision on application for a new CDC or for an existing CDC to expand Area of Operations. | |

13:1.0.1.1.16.8.236.20 | SECTION 120.839 | 120.839 Case-by-case application to make a 504 loan outside of a CDC's Area of Operations. | |

13:1.0.1.1.16.8.237 | SUBJGRP 237 | Accredited Lenders Program (ALP) | |

13:1.0.1.1.16.8.237.21 | SECTION 120.840 | 120.840 Accredited Lenders Program (ALP). | |

13:1.0.1.1.16.8.237.22 | SECTION 120.841 | 120.841 Qualifications for the ALP. | |

13:1.0.1.1.16.8.238 | SUBJGRP 238 | Premier Certified Lenders Program | |

13:1.0.1.1.16.8.238.23 | SECTION 120.845 | 120.845 Premier Certified Lenders Program (PCLP). | |

13:1.0.1.1.16.8.238.24 | SECTION 120.846 | 120.846 Requirements for maintaining and renewing PCLP status. | |

13:1.0.1.1.16.8.238.25 | SECTION 120.847 | 120.847 Requirements for the Loan Loss Reserve Fund (LLRF). | |

13:1.0.1.1.16.8.238.26 | SECTION 120.848 | 120.848 Requirements for 504 loan processing, closing, servicing, liquidating, and litigating by PCLP CDCs. | |

13:1.0.1.1.16.8.239 | SUBJGRP 239 | Associate Development Companies (ADCs) | |

13:1.0.1.1.16.8.239.27 | SECTION 120.850 | 120.850 Expiration of Associate Development Company designation. | |

13:1.0.1.1.16.8.240 | SUBJGRP 240 | Other CDC Requirements | |

13:1.0.1.1.16.8.240.28 | SECTION 120.851 | 120.851 CDC ethical requirements. | |

13:1.0.1.1.16.8.240.29 | SECTION 120.852 | 120.852 [Reserved] | |

13:1.0.1.1.16.8.240.30 | SECTION 120.853 | 120.853 Inspector General audits of CDCs. | |

13:1.0.1.1.16.8.240.31 | SECTION 120.857 | 120.857 Voluntary transfer and surrender of CDC certification. | |

13:1.0.1.1.16.8.241 | SUBJGRP 241 | Project Economic Development Goals | |

13:1.0.1.1.16.8.241.32 | SECTION 120.860 | 120.860 Required objectives. | |

13:1.0.1.1.16.8.241.33 | SECTION 120.861 | 120.861 Job creation or retention. | |

13:1.0.1.1.16.8.241.34 | SECTION 120.862 | 120.862 Other economic development objectives. | |

13:1.0.1.1.16.8.242 | SUBJGRP 242 | Leasing Policies Specific to 504 Loans | |

13:1.0.1.1.16.8.242.35 | SECTION 120.870 | 120.870 Leasing Project Property. | |

13:1.0.1.1.16.8.242.36 | SECTION 120.871 | 120.871 Leasing part of Project Property to another business. | |

13:1.0.1.1.16.8.243 | SUBJGRP 243 | Loan-Making Policies Specific to 504 Loans | |

13:1.0.1.1.16.8.243.37 | SECTION 120.880 | 120.880 Basic eligibility requirements. | |

13:1.0.1.1.16.8.243.38 | SECTION 120.881 | 120.881 Ineligible Projects for 504 loans. | |

13:1.0.1.1.16.8.243.39 | SECTION 120.882 | 120.882 Eligible Project costs for 504 loans. | |

13:1.0.1.1.16.8.243.40 | SECTION 120.883 | 120.883 Eligible administrative costs for 504 loans. | |

13:1.0.1.1.16.8.243.41 | SECTION 120.884 | 120.884 Ineligible costs for 504 loans. | |

13:1.0.1.1.16.8.244 | SUBJGRP 244 | Interim Financing | |

13:1.0.1.1.16.8.244.42 | SECTION 120.890 | 120.890 Source of interim financing. | |

13:1.0.1.1.16.8.244.43 | SECTION 120.891 | 120.891 Certifications of disbursement and completion. | |

13:1.0.1.1.16.8.244.44 | SECTION 120.892 | 120.892 Certifications of no adverse change. | |

13:1.0.1.1.16.8.245 | SUBJGRP 245 | Permanent Financing | |

13:1.0.1.1.16.8.245.45 | SECTION 120.900 | 120.900 Sources of permanent financing. | |

13:1.0.1.1.16.8.246 | SUBJGRP 246 | The Borrower's Contribution | |

13:1.0.1.1.16.8.246.46 | SECTION 120.910 | 120.910 Borrower contributions. | |

13:1.0.1.1.16.8.246.47 | SECTION 120.911 | 120.911 Land contributions. | |

13:1.0.1.1.16.8.246.48 | SECTION 120.912 | 120.912 Borrowed contributions. | |

13:1.0.1.1.16.8.246.49 | SECTION 120.913 | 120.913 Limitations on any contributions by a Licensee. | |

13:1.0.1.1.16.8.247 | SUBJGRP 247 | Third Party Loans | |

13:1.0.1.1.16.8.247.50 | SECTION 120.920 | 120.920 Required participation by the Third Party Lender. | |

13:1.0.1.1.16.8.247.51 | SECTION 120.921 | 120.921 Terms of Third Party loans. | |

13:1.0.1.1.16.8.247.52 | SECTION 120.922 | 120.922 Pre-existing debt on the Project Property. | |

13:1.0.1.1.16.8.247.53 | SECTION 120.923 | 120.923 Policies on subordination. | |

13:1.0.1.1.16.8.247.54 | SECTION 120.925 | 120.925 [Reserved] | |

13:1.0.1.1.16.8.247.55 | SECTION 120.926 | 120.926 Referral fee. | |

13:1.0.1.1.16.8.248 | SUBJGRP 248 | 504 Loans and Debentures | |

13:1.0.1.1.16.8.248.56 | SECTION 120.930 | 120.930 Amount. | |

13:1.0.1.1.16.8.248.57 | SECTION 120.931 | 120.931 504 Lending limits. | |

13:1.0.1.1.16.8.248.58 | SECTION 120.932 | 120.932 Interest rate. | |

13:1.0.1.1.16.8.248.59 | SECTION 120.933 | 120.933 Maturity. | |

13:1.0.1.1.16.8.248.60 | SECTION 120.934 | 120.934 Collateral. | |

13:1.0.1.1.16.8.248.61 | SECTION 120.935 | 120.935 Deposit from the Borrower that a CDC may require. | |

13:1.0.1.1.16.8.248.62 | SECTION 120.937 | 120.937 Assumption. | |

13:1.0.1.1.16.8.248.63 | SECTION 120.938 | 120.938 Default. | |

13:1.0.1.1.16.8.248.64 | SECTION 120.939 | 120.939 Borrower prohibition. | |

13:1.0.1.1.16.8.248.65 | SECTION 120.940 | 120.940 Prepayment of the 504 loan or Debenture. | |

13:1.0.1.1.16.8.248.66 | SECTION 120.941 | 120.941 Certificates. | |

13:1.0.1.1.16.8.249 | SUBJGRP 249 | Debenture Sales and Service Agents | |

13:1.0.1.1.16.8.249.67 | SECTION 120.950 | 120.950 SBA and CDC must appoint agents. | |

13:1.0.1.1.16.8.249.68 | SECTION 120.951 | 120.951 Selling agent. | |

13:1.0.1.1.16.8.249.69 | SECTION 120.952 | 120.952 Fiscal agent. | |

13:1.0.1.1.16.8.249.70 | SECTION 120.953 | 120.953 Trustee. | |

13:1.0.1.1.16.8.249.71 | SECTION 120.954 | 120.954 Central Servicing Agent. | |

13:1.0.1.1.16.8.249.72 | SECTION 120.955 | 120.955 Agent bonds and records. | |

13:1.0.1.1.16.8.249.73 | SECTION 120.956 | 120.956 Suspension or revocation of brokers and dealers. | |

13:1.0.1.1.16.8.250 | SUBJGRP 250 | Closings | |

13:1.0.1.1.16.8.250.74 | SECTION 120.960 | 120.960 Responsibility for closing. | |

13:1.0.1.1.16.8.250.75 | SECTION 120.961 | 120.961 Construction escrow accounts. | |

13:1.0.1.1.16.8.251 | SUBJGRP 251 | Servicing | |

13:1.0.1.1.16.8.251.76 | SECTION 120.970 | 120.970 Servicing of 504 loans and Debentures. | |

13:1.0.1.1.16.8.252 | SUBJGRP 252 | Fees | |

13:1.0.1.1.16.8.252.77 | SECTION 120.971 | 120.971 Allowable fees paid by Borrower. | |

13:1.0.1.1.16.8.252.78 | SECTION 120.972 | 120.972 Third Party Lender participation fee and CDC fee. | |

13:1.0.1.1.16.8.253 | SUBJGRP 253 | Authority of CDCs To Perform Liquidation and Debt Collection Litigation | |

13:1.0.1.1.16.8.253.79 | SECTION 120.975 | 120.975 CDC Liquidation of loans and debt collection litigation. | |

13:1.0.1.1.16.8.254 | SUBJGRP 254 | Enforceability of 501, 502 and 503 Loans and Other Laws | |

13:1.0.1.1.16.8.254.80 | SECTION 120.990 | 120.990 501, 502 and 503 loans. | |

13:1.0.1.1.16.8.254.81 | SECTION 120.991 | 120.991 Effect of other laws. | |

13:1.0.1.1.16.9 | SUBPART I | Subpart I - Risk-Based Lender Oversight | |

13:1.0.1.1.16.9.255 | SUBJGRP 255 | Supervision | |

13:1.0.1.1.16.9.255.1 | SECTION 120.1000 | 120.1000 Risk-Based Lender Oversight. | |

13:1.0.1.1.16.9.255.2 | SECTION 120.1005 | 120.1005 Bureau of PCLP Oversight. | |

13:1.0.1.1.16.9.255.3 | SECTION 120.1010 | 120.1010 SBA access to SBA Lender and Intermediary files. | |

13:1.0.1.1.16.9.255.4 | SECTION 120.1015 | 120.1015 Risk Rating System. | |

13:1.0.1.1.16.9.255.5 | SECTION 120.1025 | 120.1025 Monitoring. | |

13:1.0.1.1.16.9.255.6 | SECTION 120.1050 | 120.1050 Reviews and examinations. | |

13:1.0.1.1.16.9.255.7 | SECTION 120.1051 | 120.1051 Frequency of reviews and examinations. | |

13:1.0.1.1.16.9.255.8 | SECTION 120.1055 | 120.1055 Review and examination results. | |

13:1.0.1.1.16.9.255.9 | SECTION 120.1060 | 120.1060 Confidentiality of Reports, Risk Ratings and related Confidential Information. | |

13:1.0.1.1.16.9.255.10 | SECTION 120.1070 | 120.1070 SBA Lender oversight fees. | |

13:1.0.1.1.16.9.256 | SUBJGRP 256 | Enforcement Actions | |

13:1.0.1.1.16.9.256.11 | SECTION 120.1300 | 120.1300 Informal enforcement actions - 7(a) Lenders. | |

13:1.0.1.1.16.9.256.12 | SECTION 120.1400 | 120.1400 Grounds for enforcement actions - SBA Lenders. | |

13:1.0.1.1.16.9.256.13 | SECTION 120.1425 | 120.1425 Grounds for formal enforcement actions - Intermediaries participating in the Microloan Program. | |

13:1.0.1.1.16.9.256.14 | SECTION 120.1500 | 120.1500 Types of formal enforcement actions - SBA Lenders. | |

13:1.0.1.1.16.9.256.15 | SECTION 120.1510 | 120.1510 Other Regulated SBLCs. | |

13:1.0.1.1.16.9.256.16 | SECTION 120.1511 | 120.1511 Certification and other reporting and notification requirements for Other Regulated SBLCs. | |

13:1.0.1.1.16.9.256.17 | SECTION 120.1540 | 120.1540 Types of formal enforcement actions - Intermediaries participating in the Microloan Program. | |

13:1.0.1.1.16.9.256.18 | SECTION 120.1600 | 120.1600 General procedures for formal enforcement actions against SBA Lenders, SBA Supervised Lenders, Other Regulated SBLCs, Management Officials, Other Persons, and Intermediaries. | |

13:1.0.1.1.16.10 | SUBPART J | Subpart J - Establishment of SBA Secondary Market Guarantee Program for First Lien Position 504 Loan Pools | |

13:1.0.1.1.16.10.257.1 | SECTION 120.1700 | 120.1700 Definitions used in subpart J. | |

13:1.0.1.1.16.10.257.2 | SECTION 120.1701 | 120.1701 Program purpose. | |

13:1.0.1.1.16.10.257.3 | SECTION 120.1702 | 120.1702 Program fee. | |

13:1.0.1.1.16.10.257.4 | SECTION 120.1703 | 120.1703 Qualifications to be a Pool Originator. | |

13:1.0.1.1.16.10.257.5 | SECTION 120.1704 | 120.1704 Pool Loans eligible for Pooling. | |

13:1.0.1.1.16.10.257.6 | SECTION 120.1705 | 120.1705 Pool formation requirements. | |

13:1.0.1.1.16.10.257.7 | SECTION 120.1706 | 120.1706 Pool Originator's retained interest in Pool. | |

13:1.0.1.1.16.10.257.8 | SECTION 120.1707 | 120.1707 Seller's retained Loan Interest. | |

13:1.0.1.1.16.10.257.9 | SECTION 120.1708 | 120.1708 Pool Certificates. | |

13:1.0.1.1.16.10.257.10 | SECTION 120.1709 | 120.1709 Transfers of Pool Certificates. | |

13:1.0.1.1.16.10.257.11 | SECTION 120.1710 | 120.1710 Central servicing of the Program. | |

13:1.0.1.1.16.10.257.12 | SECTION 120.1711 | 120.1711 Suspension or termination of Program participation privileges. | |

13:1.0.1.1.16.10.257.13 | SECTION 120.1712 | 120.1712 Seller responsibilities with respect to Seller's Pool Loan. | |

13:1.0.1.1.16.10.257.14 | SECTION 120.1713 | 120.1713 Seller's Pool Loan origination. | |

13:1.0.1.1.16.10.257.15 | SECTION 120.1714 | 120.1714 Seller's Pool Loan servicing. | |

13:1.0.1.1.16.10.257.16 | SECTION 120.1715 | 120.1715 Seller's Pool Loan liquidation. | |

13:1.0.1.1.16.10.257.17 | SECTION 120.1716 | 120.1716 Required SBA approval of servicing actions. | |

13:1.0.1.1.16.10.257.18 | SECTION 120.1717 | 120.1717 Seller's Pool Loan deferments. | |

13:1.0.1.1.16.10.257.19 | SECTION 120.1718 | 120.1718 SBA's right to assume Seller's responsibilities. | |

13:1.0.1.1.16.10.257.20 | SECTION 120.1719 | 120.1719 SBA's right to recover from Seller. | |

13:1.0.1.1.16.10.257.21 | SECTION 120.1720 | 120.1720 SBA's right to review Pool Loan documents. | |

13:1.0.1.1.16.10.257.22 | SECTION 120.1721 | 120.1721 SBA's right to investigate. | |

13:1.0.1.1.16.10.257.23 | SECTION 120.1722 | 120.1722 SBA's offset rights. | |

13:1.0.1.1.16.10.257.24 | SECTION 120.1723 | 120.1723 Pool Loan receivables received by Seller. | |

13:1.0.1.1.16.10.257.25 | SECTION 120.1724 | 120.1724 Servicing and liquidation expenses. | |

13:1.0.1.1.16.10.257.26 | SECTION 120.1725 | 120.1725 No Program Preference by Seller or Pool Originator. | |

13:1.0.1.1.16.10.257.27 | SECTION 120.1726 | 120.1726 Pool Certificates a Seller cannot purchase. |