Title 13

PART 120

Part 120 - Business Loans

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. Editorial Note:Nomenclature changes to part 120 appear at 72 FR 50039, Aug. 30, 2007.

13:1.0.1.1.16.0.189SUBJGRP 189
   General Descriptions of SBA's Business Loan Programs
13:1.0.1.1.16.0.189.1SECTION 120.1
   120.1 Which loan programs does this part cover
13:1.0.1.1.16.0.189.2SECTION 120.2
   120.2 Descriptions of the business loan programs.
13:1.0.1.1.16.0.189.3SECTION 120.3
   120.3 Pilot programs.
13:1.0.1.1.16.0.190SUBJGRP 190
   Definitions
13:1.0.1.1.16.0.190.4SECTION 120.10
   120.10 Definitions.
13:1.0.1.1.16.1SUBPART A
Subpart A - Policies Applying to All Business Loans
13:1.0.1.1.16.1.191SUBJGRP 191
   Eligibility Requirements
13:1.0.1.1.16.1.191.1SECTION 120.100
   120.100 What are the basic eligibility requirements for all applicants for SBA business loans
13:1.0.1.1.16.1.191.2SECTION 120.101
   120.101 Credit not available elsewhere.
13:1.0.1.1.16.1.191.3SECTION 120.102
   120.102 Funds not available from alternative sources, including the personal resources of owners.
13:1.0.1.1.16.1.191.4SECTION 120.103
   120.103 Are farm enterprises eligible
13:1.0.1.1.16.1.191.5SECTION 120.104
   120.104 Are businesses financed by SBICs eligible
13:1.0.1.1.16.1.191.6SECTION 120.105
   120.105 Special consideration for veterans.
13:1.0.1.1.16.1.192SUBJGRP 192
   Ineligible Businesses and Eligible Passive Companies
13:1.0.1.1.16.1.192.7SECTION 120.110
   120.110 What businesses are ineligible for SBA business loans
13:1.0.1.1.16.1.192.8SECTION 120.111
   120.111 What conditions must an Eligible Passive Company satisfy
13:1.0.1.1.16.1.193SUBJGRP 193
   Uses of Proceeds
13:1.0.1.1.16.1.193.9SECTION 120.120
   120.120 What are eligible uses of proceeds
13:1.0.1.1.16.1.193.10SECTION 120.130
   120.130 Restrictions on uses of proceeds.
13:1.0.1.1.16.1.193.11SECTION 120.131
   120.131 Leasing part of new construction or existing building to another business.
13:1.0.1.1.16.1.194SUBJGRP 194
   Ethical Requirements
13:1.0.1.1.16.1.194.12SECTION 120.140
   120.140 What ethical requirements apply to participants
13:1.0.1.1.16.1.195SUBJGRP 195
   Credit Criteria for SBA Loans
13:1.0.1.1.16.1.195.13SECTION 120.150
   120.150 What are SBA's lending criteria
13:1.0.1.1.16.1.195.14SECTION 120.151
   120.151 What is the statutory limit for total loans to a Borrower
13:1.0.1.1.16.1.195.15SECTION 120.160
   120.160 Loan conditions.
13:1.0.1.1.16.1.196SUBJGRP 196
   Requirements Imposed Under Other Laws and Orders
13:1.0.1.1.16.1.196.16SECTION 120.170
   120.170 Flood insurance.
13:1.0.1.1.16.1.196.17SECTION 120.171
   120.171 Compliance with child support obligations.
13:1.0.1.1.16.1.196.18SECTION 120.172
   120.172 Flood-plain and wetlands management.
13:1.0.1.1.16.1.196.19SECTION 120.173
   120.173 Lead-based paint.
13:1.0.1.1.16.1.196.20SECTION 120.174
   120.174 Earthquake hazards.
13:1.0.1.1.16.1.196.21SECTION 120.175
   120.175 Coastal barrier islands.
13:1.0.1.1.16.1.196.22SECTION 120.176
   120.176 Compliance with other laws.
13:1.0.1.1.16.1.197SUBJGRP 197
   Applicability and Enforceability of Loan Program Requirements
13:1.0.1.1.16.1.197.23SECTION 120.180
   120.180 Compliance with Loan Program Requirements.
13:1.0.1.1.16.1.197.24SECTION 120.181
   120.181 Status of Lenders and CDCs.
13:1.0.1.1.16.1.198SUBJGRP 198
   Loan Applications
13:1.0.1.1.16.1.198.25SECTION 120.190
   120.190 Where does an applicant apply for a loan
13:1.0.1.1.16.1.198.26SECTION 120.191
   120.191 The contents of a business loan application.
13:1.0.1.1.16.1.198.27SECTION 120.192
   120.192 Approval or denial.
13:1.0.1.1.16.1.198.28SECTION 120.193
   120.193 Reconsideration after denial.
13:1.0.1.1.16.1.199SUBJGRP 199
   Computerized SBA Forms
13:1.0.1.1.16.1.199.29SECTION 120.194
   120.194 [Reserved]
13:1.0.1.1.16.1.200SUBJGRP 200
   Reporting
13:1.0.1.1.16.1.200.30SECTION 120.195
   120.195 Disclosure of fees.
13:1.0.1.1.16.1.200.31SECTION 120.197
   120.197 Notifying SBA's Office of Inspector General of suspected fraud.
13:1.0.1.1.16.2SUBPART B
Subpart B - Policies Specific to 7(a) Loans
13:1.0.1.1.16.2.201SUBJGRP 201
   Bonding Requirements
13:1.0.1.1.16.2.201.1SECTION 120.200
   120.200 What bonding requirements exist during construction
13:1.0.1.1.16.2.202SUBJGRP 202
   Limitations on Use of Proceeds
13:1.0.1.1.16.2.202.2SECTION 120.201
   120.201 Refinancing unsecured or undersecured loans.
13:1.0.1.1.16.2.202.3SECTION 120.202
   120.202 Restrictions on loans for changes in ownership.
13:1.0.1.1.16.2.203SUBJGRP 203
   Maturities; Interest Rates; Loan and Guarantee Amounts
13:1.0.1.1.16.2.203.4SECTION 120.210
   120.210 What percentage of a loan may SBA guarantee
13:1.0.1.1.16.2.203.5SECTION 120.211
   120.211 What limits are there on the amounts of direct loans
13:1.0.1.1.16.2.203.6SECTION 120.212
   120.212 What limits are there on loan maturities
13:1.0.1.1.16.2.203.7SECTION 120.213
   120.213 What fixed interest rates may a Lender charge
13:1.0.1.1.16.2.203.8SECTION 120.214
   120.214 What conditions apply for variable interest rates
13:1.0.1.1.16.2.203.9SECTION 120.215
   120.215 What interest rates apply to smaller loans
13:1.0.1.1.16.2.204SUBJGRP 204
   Fees for Guaranteed Loans
13:1.0.1.1.16.2.204.10SECTION 120.220
   120.220 Fees that Lender pays SBA.
13:1.0.1.1.16.2.204.11SECTION 120.221
   120.221 Fees and expenses that the Lender may collect from an Applicant or Borrower.
13:1.0.1.1.16.2.204.12SECTION 120.222
   120.222 Prohibition on sharing premiums for secondary market sales.
13:1.0.1.1.16.2.204.13SECTION 120.223
   120.223 Subsidy recoupment fee payable to SBA by Borrower.
13:1.0.1.1.16.3SUBPART C
Subpart C - Special Purpose Loans
13:1.0.1.1.16.3.205SUBJGRP 205
   Disabled Assistance Loan Program (DAL)
13:1.0.1.1.16.3.205.1SECTION 120.300
   120.300 Statutory authority.
13:1.0.1.1.16.3.205.2SECTION 120.310
   120.310 What assistance is available for the disabled
13:1.0.1.1.16.3.205.3SECTION 120.311
   120.311 Definitions.
13:1.0.1.1.16.3.205.4SECTION 120.312
   120.312 DAL-1 use of proceeds and other program conditions.
13:1.0.1.1.16.3.205.5SECTION 120.313
   120.313 DAL-2 use of proceeds and other program conditions.
13:1.0.1.1.16.3.205.6SECTION 120.314
   120.314 Resolving doubts about creditworthiness.
13:1.0.1.1.16.3.205.7SECTION 120.315
   120.315 Interest rate and loan limit.
13:1.0.1.1.16.3.206SUBJGRP 206
   Businesses Owned by Low Income Individuals
13:1.0.1.1.16.3.206.8SECTION 120.320
   120.320 Policy.
13:1.0.1.1.16.3.207SUBJGRP 207
   Energy Conservation
13:1.0.1.1.16.3.207.9SECTION 120.330
   120.330 Who is eligible for an energy conservation loan
13:1.0.1.1.16.3.207.10SECTION 120.331
   120.331 What devices or techniques are eligible for a loan
13:1.0.1.1.16.3.207.11SECTION 120.332
   120.332 What are the eligible uses of proceeds
13:1.0.1.1.16.3.207.12SECTION 120.333
   120.333 Are there any special credit criteria
13:1.0.1.1.16.3.208SUBJGRP 208
   Export Working Capital Program (EWCP)
13:1.0.1.1.16.3.208.13SECTION 120.340
   120.340 What is the Export Working Capital Program
13:1.0.1.1.16.3.208.14SECTION 120.341
   120.341 Who is eligible
13:1.0.1.1.16.3.208.15SECTION 120.342
   120.342 What are eligible uses of proceeds
13:1.0.1.1.16.3.208.16SECTION 120.343
   120.343 Collateral.
13:1.0.1.1.16.3.208.17SECTION 120.344
   120.344 Unique requirements of the EWCP.
13:1.0.1.1.16.3.209SUBJGRP 209
   International Trade Loans
13:1.0.1.1.16.3.209.18SECTION 120.345
   120.345 Policy.
13:1.0.1.1.16.3.209.19SECTION 120.346
   120.346 Eligibility.
13:1.0.1.1.16.3.209.20SECTION 120.347
   120.347 Use of proceeds.
13:1.0.1.1.16.3.209.21SECTION 120.348
   120.348 Amount of guarantee.
13:1.0.1.1.16.3.209.22SECTION 120.349
   120.349 Collateral.
13:1.0.1.1.16.3.210SUBJGRP 210
   Qualified Employee Trusts (ESOP)
13:1.0.1.1.16.3.210.23SECTION 120.350
   120.350 Policy.
13:1.0.1.1.16.3.210.24SECTION 120.351
   120.351 Definitions.
13:1.0.1.1.16.3.210.25SECTION 120.352
   120.352 Use of proceeds.
13:1.0.1.1.16.3.210.26SECTION 120.353
   120.353 Eligibility.
13:1.0.1.1.16.3.210.27SECTION 120.354
   120.354 Creditworthiness.
13:1.0.1.1.16.3.211SUBJGRP 211
   Veterans Loan Program
13:1.0.1.1.16.3.211.28SECTION 120.360
   120.360 Which veterans are eligible
13:1.0.1.1.16.3.211.29SECTION 120.361
   120.361 Other conditions of eligibility.
13:1.0.1.1.16.3.212SUBJGRP 212
   Pollution Control Program
13:1.0.1.1.16.3.212.30SECTION 120.370
   120.370 Policy.
13:1.0.1.1.16.3.213SUBJGRP 213
   Loans to Participants in the 8(a) Program
13:1.0.1.1.16.3.213.31SECTION 120.375
   120.375 Policy.
13:1.0.1.1.16.3.213.32SECTION 120.376
   120.376 Special requirements.
13:1.0.1.1.16.3.213.33SECTION 120.377
   120.377 Use of proceeds.
13:1.0.1.1.16.3.214SUBJGRP 214
   Defense Economic Transition Assistance
13:1.0.1.1.16.3.214.34SECTION 120.380
   120.380 Program.
13:1.0.1.1.16.3.214.35SECTION 120.381
   120.381 Eligibility.
13:1.0.1.1.16.3.214.36SECTION 120.382
   120.382 Repayment ability.
13:1.0.1.1.16.3.214.37SECTION 120.383
   120.383 Restrictions on loan processing.
13:1.0.1.1.16.3.215SUBJGRP 215
   CapLines Program
13:1.0.1.1.16.3.215.38SECTION 120.390
   120.390 Revolving credit.
13:1.0.1.1.16.3.216SUBJGRP 216
   Builders Loan Program
13:1.0.1.1.16.3.216.39SECTION 120.391
   120.391 What is the Builders Loan Program
13:1.0.1.1.16.3.216.40SECTION 120.392
   120.392 Who may apply
13:1.0.1.1.16.3.216.41SECTION 120.393
   120.393 Are there special application requirements
13:1.0.1.1.16.3.216.42SECTION 120.394
   120.394 What are the eligible uses of proceeds
13:1.0.1.1.16.3.216.43SECTION 120.395
   120.395 What is SBA's collateral position
13:1.0.1.1.16.3.216.44SECTION 120.396
   120.396 What is the term of the loan
13:1.0.1.1.16.3.216.45SECTION 120.397
   120.397 Are there any special restrictions
13:1.0.1.1.16.3.217SUBJGRP 217
   America's Recovery Capital (Business Stabilization) Loan Program - ARC Loan Program
13:1.0.1.1.16.3.217.46SECTION 120.398
   120.398 America's Recovery Capital (ARC) Loan Program.
13:1.0.1.1.16.4SUBPART D
Subpart D - Lenders
13:1.0.1.1.16.4.218SUBJGRP 218
   Participation Criteria
13:1.0.1.1.16.4.218.1SECTION 120.400
   120.400 Loan Guarantee Agreements.
13:1.0.1.1.16.4.218.2SECTION 120.410
   120.410 Requirements for all participating Lenders.
13:1.0.1.1.16.4.218.3SECTION 120.411
   120.411 Preferences.
13:1.0.1.1.16.4.218.4SECTION 120.412
   120.412 Other services Lenders may provide Borrowers.
13:1.0.1.1.16.4.218.5SECTION 120.413
   120.413 Advertisement of relationship with SBA.
13:1.0.1.1.16.4.219SUBJGRP 219
   Participating Lender Financings
13:1.0.1.1.16.4.219.6SECTION 120.420
   120.420 Definitions.
13:1.0.1.1.16.4.219.7SECTION 120.421
   120.421 Which Lenders may securitize
13:1.0.1.1.16.4.219.8SECTION 120.422
   120.422 Are all securitizations subject to this subpart
13:1.0.1.1.16.4.219.9SECTION 120.423
   120.423 Which 7(a) loans may a Lender securitize
13:1.0.1.1.16.4.219.10SECTION 120.424
   120.424 What are the basic conditions a Lender must meet to securitize
13:1.0.1.1.16.4.219.11SECTION 120.425
   120.425 What are the minimum elements that SBA will require before consenting to a securitization
13:1.0.1.1.16.4.219.12SECTION 120.426
   120.426 What action will SBA take if a securitizer transfers the subordinated tranche prior to the termination of the holding period
13:1.0.1.1.16.4.219.13SECTION 120.427
   120.427 Will SBA approve a securitization application from a capital impaired Securitizer
13:1.0.1.1.16.4.219.14SECTION 120.428
   120.428 What happens to a securitizer's other PLP responsibilities if SBA suspends its PLP approval privilege
13:1.0.1.1.16.4.220SUBJGRP 220
   Other Conveyances
13:1.0.1.1.16.4.220.15SECTION 120.430
   120.430 What conveyances are covered by §§ 120.430 through 120.435
13:1.0.1.1.16.4.220.16SECTION 120.431
   120.431 Which Lenders may sell, sell participations in, or pledge 7(a) loans
13:1.0.1.1.16.4.220.17SECTION 120.432
   120.432 Under what circumstances does this subpart permit sales of, or sales of participating interests in, 7(a) loans
13:1.0.1.1.16.4.220.18SECTION 120.433
   120.433 What are SBA's other requirements for sales and sales of participating interests
13:1.0.1.1.16.4.220.19SECTION 120.434
   120.434 What are SBA's requirements for loan pledges
13:1.0.1.1.16.4.220.20SECTION 120.435
   120.435 Which loan pledges do not require notice to or consent by SBA
13:1.0.1.1.16.4.221SUBJGRP 221
   Delegated Authority Criteria
13:1.0.1.1.16.4.221.21SECTION 120.440
   120.440 How does a 7(a) Lender obtain delegated authority
13:1.0.1.1.16.4.222SUBJGRP 222
   SBA Express and Export Express Loan Programs
13:1.0.1.1.16.4.222.22SECTION 120.441
   120.441 SBA Express and Export Express Loan Programs.
13:1.0.1.1.16.4.222.23SECTION 120.442
   120.442 Process to obtain or renew SBA Express or Export Express authority.
13:1.0.1.1.16.4.222.24SECTION 120.443
   120.443 SBA Express and Export Express loan processing requirements.
13:1.0.1.1.16.4.222.25SECTION 120.444
   120.444 Eligible uses of SBA Express and Export Express loan proceeds.
13:1.0.1.1.16.4.222.26SECTION 120.445
   120.445 Terms and conditions of SBA Express and Export Express loans.
13:1.0.1.1.16.4.222.27SECTION 120.446
   120.446 SBA Express and Export Express loan closing, servicing, liquidation, and litigation requirements.
13:1.0.1.1.16.4.222.28SECTION 120.447
   120.447 Oversight of SBA Express and Export Express Lenders.
13:1.0.1.1.16.4.223SUBJGRP 223
   Preferred Lenders Program (PLP)
13:1.0.1.1.16.4.223.29SECTION 120.450
   120.450 What is the Preferred Lenders Program
13:1.0.1.1.16.4.223.30SECTION 120.451
   120.451 [Reserved]
13:1.0.1.1.16.4.223.31SECTION 120.452
   120.452 What are the requirements of PLP loan processing
13:1.0.1.1.16.4.223.32SECTION 120.453
   120.453 Responsibilities of PLP Lenders for servicing and liquidating 7(a) loans.
13:1.0.1.1.16.4.224SUBJGRP 224
   SBA Supervised Lenders
13:1.0.1.1.16.4.224.33SECTION 120.460
   120.460 What are SBA's additional requirements for SBA Supervised Lenders
13:1.0.1.1.16.4.224.34SECTION 120.461
   120.461 What are SBA's additional requirements for SBA Supervised Lenders concerning records
13:1.0.1.1.16.4.224.35SECTION 120.462
   120.462 What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders
13:1.0.1.1.16.4.224.36SECTION 120.463
   120.463 Regulatory accounting - What are SBA's regulatory accounting requirements for SBA Supervised Lenders
13:1.0.1.1.16.4.224.37SECTION 120.464
   120.464 Reports to SBA.
13:1.0.1.1.16.4.224.38SECTION 120.465
   120.465 Civil penalty for late submission of required reports.
13:1.0.1.1.16.4.225SUBJGRP 225
   Small Business Lending Companies (SBLC)
13:1.0.1.1.16.4.225.39SECTION 120.470
   120.470 What are SBA's additional requirements for SBLCs
13:1.0.1.1.16.4.225.40SECTION 120.471
   120.471 What are the minimum capital requirements for SBLCs
13:1.0.1.1.16.4.225.41SECTION 120.472
   120.472 Higher individual minimum capital requirement.
13:1.0.1.1.16.4.225.42SECTION 120.473
   120.473 Procedures for determining individual minimum capital requirement.
13:1.0.1.1.16.4.225.43SECTION 120.474
   120.474 Relation to other actions.
13:1.0.1.1.16.4.225.44SECTION 120.475
   120.475 Change of ownership or control.
13:1.0.1.1.16.4.225.45SECTION 120.476
   120.476 Prohibited financing.
13:1.0.1.1.16.4.225.46SECTION 120.490
   120.490 Audits.
13:1.0.1.1.16.5SUBPART E
Subpart E - Servicing, Liquidation and Debt Collection Litigation of 7(a) and 504 Loans
13:1.0.1.1.16.5.226SUBJGRP 226
   SBA'S Purchase of a Guaranteed Portion
13:1.0.1.1.16.5.226.1SECTION 120.520
   120.520 Purchase of 7(a) loan guarantees.
13:1.0.1.1.16.5.226.2SECTION 120.521
   120.521 What interest rate applies after SBA purchases its guaranteed portion
13:1.0.1.1.16.5.226.3SECTION 120.522
   120.522 Payment of accrued interest to the Lender or Registered Holder when SBA purchases the guaranteed portion.
13:1.0.1.1.16.5.226.4SECTION 120.523
   120.523 What is the “earliest uncured payment default”
13:1.0.1.1.16.5.226.5SECTION 120.524
   120.524 When is SBA released from liability on its guarantee
13:1.0.1.1.16.5.226.6SECTION 120.530
   120.530 Deferment of payment.
13:1.0.1.1.16.5.226.7SECTION 120.531
   120.531 Extension of maturity.
13:1.0.1.1.16.5.226.8SECTION 120.532
   120.532 What is a loan Moratorium
13:1.0.1.1.16.5.226.9SECTION 120.535
   120.535 Standards for Lender and CDC loan servicing, loan liquidation and debt collection litigation.
13:1.0.1.1.16.5.226.10SECTION 120.536
   120.536 Servicing and liquidation actions that require the prior written consent of SBA.
13:1.0.1.1.16.5.226.11SECTION 120.540
   120.540 Liquidation and litigation plans.
13:1.0.1.1.16.5.226.12SECTION 120.541
   120.541 Time for approval by SBA.
13:1.0.1.1.16.5.226.13SECTION 120.542
   120.542 Payment by SBA of legal fees and other expenses.
13:1.0.1.1.16.5.226.14SECTION 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
13:1.0.1.1.16.5.226.15SECTION 120.546
   120.546 Loan asset sales.
13:1.0.1.1.16.5.227SUBJGRP 227
   Homestead Protection for Farmers
13:1.0.1.1.16.5.227.16SECTION 120.550
   120.550 What is homestead protection for farmers
13:1.0.1.1.16.5.227.17SECTION 120.551
   120.551 Who is eligible for homestead protection
13:1.0.1.1.16.5.227.18SECTION 120.552
   120.552 Lease.
13:1.0.1.1.16.5.227.19SECTION 120.553
   120.553 Appeal.
13:1.0.1.1.16.5.227.20SECTION 120.554
   120.554 Conflict of laws.
13:1.0.1.1.16.6SUBPART F
Subpart F - Secondary Market
13:1.0.1.1.16.6.228SUBJGRP 228
   Fiscal and Transfer Agent (FTA)
13:1.0.1.1.16.6.228.1SECTION 120.600
   120.600 Definitions.
13:1.0.1.1.16.6.228.2SECTION 120.601
   120.601 SBA Secondary Market.
13:1.0.1.1.16.6.229SUBJGRP 229
   Certificates
13:1.0.1.1.16.6.229.3SECTION 120.610
   120.610 Form and terms of Certificates.
13:1.0.1.1.16.6.229.4SECTION 120.611
   120.611 Pools backing Pool Certificates.
13:1.0.1.1.16.6.229.5SECTION 120.612
   120.612 Loans eligible to back Certificates.
13:1.0.1.1.16.6.229.6SECTION 120.613
   120.613 Secondary Participation Guarantee Agreement.
13:1.0.1.1.16.6.230SUBJGRP 230
   The SBA Guarantee of a Certificate
13:1.0.1.1.16.6.230.7SECTION 120.620
   120.620 SBA guarantee of a Pool Certificate.
13:1.0.1.1.16.6.230.8SECTION 120.621
   120.621 SBA guarantee of an Individual Certificate.
13:1.0.1.1.16.6.231SUBJGRP 231
   Pool Assemblers
13:1.0.1.1.16.6.231.9SECTION 120.630
   120.630 Qualifications to be a Pool Assembler.
13:1.0.1.1.16.6.231.10SECTION 120.631
   120.631 Suspension or termination of Pool Assembler.
13:1.0.1.1.16.6.232SUBJGRP 232
   Miscellaneous Provisions
13:1.0.1.1.16.6.232.11SECTION 120.640
   120.640 Administration of the Pool and Individual Certificates.
13:1.0.1.1.16.6.232.12SECTION 120.641
   120.641 Disclosure to purchasers.
13:1.0.1.1.16.6.232.13SECTION 120.642
   120.642 Requirements before the FTA issues Pool Certificates.
13:1.0.1.1.16.6.232.14SECTION 120.643
   120.643 Requirements before the FTA issues Individual Certificates.
13:1.0.1.1.16.6.232.15SECTION 120.644
   120.644 Transfers of Certificates.
13:1.0.1.1.16.6.232.16SECTION 120.645
   120.645 Redemption of Certificates.
13:1.0.1.1.16.6.232.17SECTION 120.650
   120.650 Registration duties of FTA in Secondary Market.
13:1.0.1.1.16.6.232.18SECTION 120.651
   120.651 Claim to FTA by Registered Holder to replace Certificate.
13:1.0.1.1.16.6.232.19SECTION 120.652
   120.652 FTA fees.
13:1.0.1.1.16.6.233SUBJGRP 233
   Suspension or Revocation of Participant in Secondary Market
13:1.0.1.1.16.6.233.20SECTION 120.660
   120.660 Suspension or revocation.
13:1.0.1.1.16.7SUBPART G
Subpart G - Microloan Program
13:1.0.1.1.16.7.234.1SECTION 120.700
   120.700 What is the Microloan Program
13:1.0.1.1.16.7.234.2SECTION 120.701
   120.701 Definitions.
13:1.0.1.1.16.7.234.3SECTION 120.702
   120.702 Are there limitations on who can be an Intermediary or on where an Intermediary may operate
13:1.0.1.1.16.7.234.4SECTION 120.703
   120.703 How does an organization apply to become an Intermediary
13:1.0.1.1.16.7.234.5SECTION 120.704
   120.704 How are applications evaluated
13:1.0.1.1.16.7.234.6SECTION 120.705
   120.705 What is a Specialized Intermediary
13:1.0.1.1.16.7.234.7SECTION 120.706
   120.706 What are the terms and conditions of an SBA loan to an Intermediary
13:1.0.1.1.16.7.234.8SECTION 120.707
   120.707 What conditions apply to loans by Intermediaries to Microloan borrowers
13:1.0.1.1.16.7.234.9SECTION 120.708
   120.708 What is the Intermediary's financial contribution
13:1.0.1.1.16.7.234.10SECTION 120.709
   120.709 What is the Microloan Revolving Fund
13:1.0.1.1.16.7.234.11SECTION 120.710
   120.710 What is the Loan Loss Reserve Fund
13:1.0.1.1.16.7.234.12SECTION 120.711
   120.711 What rules govern Intermediaries
13:1.0.1.1.16.7.234.13SECTION 120.712
   120.712 How does an Intermediary get a grant to assist Microloan borrowers
13:1.0.1.1.16.7.234.14SECTION 120.713
   120.713 Does SBA provide technical assistance to Intermediaries
13:1.0.1.1.16.7.234.15SECTION 120.714
   120.714 How are grants made to non-lending technical assistance providers (NTAP)
13:1.0.1.1.16.7.234.16SECTION 120.715
   120.715 Does SBA guarantee any loans an Intermediary obtains from another source
13:1.0.1.1.16.7.234.17SECTION 120.716
   120.716 What is the minimum number of loans an Intermediary must make each Federal fiscal year
13:1.0.1.1.16.8SUBPART H
Subpart H - Development Company Loan Program (504)
13:1.0.1.1.16.8.234SUBJGRP 234
   Certification Procedures To Become a CDC
13:1.0.1.1.16.8.234.1SECTION 120.800
   120.800 The purpose of the 504 program.
13:1.0.1.1.16.8.234.2SECTION 120.801
   120.801 How a 504 Project is financed.
13:1.0.1.1.16.8.234.3SECTION 120.802
   120.802 Definitions.
13:1.0.1.1.16.8.234.4SECTION 120.810
   120.810 Applications for certification as a CDC.
13:1.0.1.1.16.8.234.5SECTION 120.812
   120.812 Probationary period for newly certified CDCs.
13:1.0.1.1.16.8.235SUBJGRP 235
   Requirements for CDC Certification and Operation
13:1.0.1.1.16.8.235.6SECTION 120.816
   120.816 CDC non-profit status and good standing.
13:1.0.1.1.16.8.235.7SECTION 120.818
   120.818 Applicability to existing for-profit CDCs.
13:1.0.1.1.16.8.235.8SECTION 120.820
   120.820 CDC Affiliation.
13:1.0.1.1.16.8.235.9SECTION 120.821
   120.821 CDC Area of Operations.
13:1.0.1.1.16.8.235.10SECTION 120.823
   120.823 CDC Board of Directors.
13:1.0.1.1.16.8.235.11SECTION 120.824
   120.824 Professional management and staff, and contracts for services.
13:1.0.1.1.16.8.235.12SECTION 120.825
   120.825 Financial ability to operate.
13:1.0.1.1.16.8.235.13SECTION 120.826
   120.826 Basic requirements for operating a CDC.
13:1.0.1.1.16.8.235.14SECTION 120.827
   120.827 Other services a CDC may provide to small businesses.
13:1.0.1.1.16.8.235.15SECTION 120.828
   120.828 Minimum level of 504 loan activity and restrictions on portfolio concentrations.
13:1.0.1.1.16.8.235.16SECTION 120.829
   120.829 Job Opportunity average a CDC must maintain.
13:1.0.1.1.16.8.235.17SECTION 120.830
   120.830 Reports a CDC must submit.
13:1.0.1.1.16.8.236SUBJGRP 236
   Extending a CDC'S Area of Operations
13:1.0.1.1.16.8.236.18SECTION 120.835
   120.835 Application to expand an Area of Operations.
13:1.0.1.1.16.8.236.19SECTION 120.837
   120.837 SBA decision on application for a new CDC or for an existing CDC to expand Area of Operations.
13:1.0.1.1.16.8.236.20SECTION 120.839
   120.839 Case-by-case application to make a 504 loan outside of a CDC's Area of Operations.
13:1.0.1.1.16.8.237SUBJGRP 237
   Accredited Lenders Program (ALP)
13:1.0.1.1.16.8.237.21SECTION 120.840
   120.840 Accredited Lenders Program (ALP).
13:1.0.1.1.16.8.237.22SECTION 120.841
   120.841 Qualifications for the ALP.
13:1.0.1.1.16.8.238SUBJGRP 238
   Premier Certified Lenders Program
13:1.0.1.1.16.8.238.23SECTION 120.845
   120.845 Premier Certified Lenders Program (PCLP).
13:1.0.1.1.16.8.238.24SECTION 120.846
   120.846 Requirements for maintaining and renewing PCLP status.
13:1.0.1.1.16.8.238.25SECTION 120.847
   120.847 Requirements for the Loan Loss Reserve Fund (LLRF).
13:1.0.1.1.16.8.238.26SECTION 120.848
   120.848 Requirements for 504 loan processing, closing, servicing, liquidating, and litigating by PCLP CDCs.
13:1.0.1.1.16.8.239SUBJGRP 239
   Associate Development Companies (ADCs)
13:1.0.1.1.16.8.239.27SECTION 120.850
   120.850 Expiration of Associate Development Company designation.
13:1.0.1.1.16.8.240SUBJGRP 240
   Other CDC Requirements
13:1.0.1.1.16.8.240.28SECTION 120.851
   120.851 CDC ethical requirements.
13:1.0.1.1.16.8.240.29SECTION 120.852
   120.852 [Reserved]
13:1.0.1.1.16.8.240.30SECTION 120.853
   120.853 Inspector General audits of CDCs.
13:1.0.1.1.16.8.240.31SECTION 120.857
   120.857 Voluntary transfer and surrender of CDC certification.
13:1.0.1.1.16.8.241SUBJGRP 241
   Project Economic Development Goals
13:1.0.1.1.16.8.241.32SECTION 120.860
   120.860 Required objectives.
13:1.0.1.1.16.8.241.33SECTION 120.861
   120.861 Job creation or retention.
13:1.0.1.1.16.8.241.34SECTION 120.862
   120.862 Other economic development objectives.
13:1.0.1.1.16.8.242SUBJGRP 242
   Leasing Policies Specific to 504 Loans
13:1.0.1.1.16.8.242.35SECTION 120.870
   120.870 Leasing Project Property.
13:1.0.1.1.16.8.242.36SECTION 120.871
   120.871 Leasing part of Project Property to another business.
13:1.0.1.1.16.8.243SUBJGRP 243
   Loan-Making Policies Specific to 504 Loans
13:1.0.1.1.16.8.243.37SECTION 120.880
   120.880 Basic eligibility requirements.
13:1.0.1.1.16.8.243.38SECTION 120.881
   120.881 Ineligible Projects for 504 loans.
13:1.0.1.1.16.8.243.39SECTION 120.882
   120.882 Eligible Project costs for 504 loans.
13:1.0.1.1.16.8.243.40SECTION 120.883
   120.883 Eligible administrative costs for 504 loans.
13:1.0.1.1.16.8.243.41SECTION 120.884
   120.884 Ineligible costs for 504 loans.
13:1.0.1.1.16.8.244SUBJGRP 244
   Interim Financing
13:1.0.1.1.16.8.244.42SECTION 120.890
   120.890 Source of interim financing.
13:1.0.1.1.16.8.244.43SECTION 120.891
   120.891 Certifications of disbursement and completion.
13:1.0.1.1.16.8.244.44SECTION 120.892
   120.892 Certifications of no adverse change.
13:1.0.1.1.16.8.245SUBJGRP 245
   Permanent Financing
13:1.0.1.1.16.8.245.45SECTION 120.900
   120.900 Sources of permanent financing.
13:1.0.1.1.16.8.246SUBJGRP 246
   The Borrower's Contribution
13:1.0.1.1.16.8.246.46SECTION 120.910
   120.910 Borrower contributions.
13:1.0.1.1.16.8.246.47SECTION 120.911
   120.911 Land contributions.
13:1.0.1.1.16.8.246.48SECTION 120.912
   120.912 Borrowed contributions.
13:1.0.1.1.16.8.246.49SECTION 120.913
   120.913 Limitations on any contributions by a Licensee.
13:1.0.1.1.16.8.247SUBJGRP 247
   Third Party Loans
13:1.0.1.1.16.8.247.50SECTION 120.920
   120.920 Required participation by the Third Party Lender.
13:1.0.1.1.16.8.247.51SECTION 120.921
   120.921 Terms of Third Party loans.
13:1.0.1.1.16.8.247.52SECTION 120.922
   120.922 Pre-existing debt on the Project Property.
13:1.0.1.1.16.8.247.53SECTION 120.923
   120.923 Policies on subordination.
13:1.0.1.1.16.8.247.54SECTION 120.925
   120.925 [Reserved]
13:1.0.1.1.16.8.247.55SECTION 120.926
   120.926 Referral fee.
13:1.0.1.1.16.8.248SUBJGRP 248
   504 Loans and Debentures
13:1.0.1.1.16.8.248.56SECTION 120.930
   120.930 Amount.
13:1.0.1.1.16.8.248.57SECTION 120.931
   120.931 504 Lending limits.
13:1.0.1.1.16.8.248.58SECTION 120.932
   120.932 Interest rate.
13:1.0.1.1.16.8.248.59SECTION 120.933
   120.933 Maturity.
13:1.0.1.1.16.8.248.60SECTION 120.934
   120.934 Collateral.
13:1.0.1.1.16.8.248.61SECTION 120.935
   120.935 Deposit from the Borrower that a CDC may require.
13:1.0.1.1.16.8.248.62SECTION 120.937
   120.937 Assumption.
13:1.0.1.1.16.8.248.63SECTION 120.938
   120.938 Default.
13:1.0.1.1.16.8.248.64SECTION 120.939
   120.939 Borrower prohibition.
13:1.0.1.1.16.8.248.65SECTION 120.940
   120.940 Prepayment of the 504 loan or Debenture.
13:1.0.1.1.16.8.248.66SECTION 120.941
   120.941 Certificates.
13:1.0.1.1.16.8.249SUBJGRP 249
   Debenture Sales and Service Agents
13:1.0.1.1.16.8.249.67SECTION 120.950
   120.950 SBA and CDC must appoint agents.
13:1.0.1.1.16.8.249.68SECTION 120.951
   120.951 Selling agent.
13:1.0.1.1.16.8.249.69SECTION 120.952
   120.952 Fiscal agent.
13:1.0.1.1.16.8.249.70SECTION 120.953
   120.953 Trustee.
13:1.0.1.1.16.8.249.71SECTION 120.954
   120.954 Central Servicing Agent.
13:1.0.1.1.16.8.249.72SECTION 120.955
   120.955 Agent bonds and records.
13:1.0.1.1.16.8.249.73SECTION 120.956
   120.956 Suspension or revocation of brokers and dealers.
13:1.0.1.1.16.8.250SUBJGRP 250
   Closings
13:1.0.1.1.16.8.250.74SECTION 120.960
   120.960 Responsibility for closing.
13:1.0.1.1.16.8.250.75SECTION 120.961
   120.961 Construction escrow accounts.
13:1.0.1.1.16.8.251SUBJGRP 251
   Servicing
13:1.0.1.1.16.8.251.76SECTION 120.970
   120.970 Servicing of 504 loans and Debentures.
13:1.0.1.1.16.8.252SUBJGRP 252
   Fees
13:1.0.1.1.16.8.252.77SECTION 120.971
   120.971 Allowable fees paid by Borrower.
13:1.0.1.1.16.8.252.78SECTION 120.972
   120.972 Third Party Lender participation fee and CDC fee.
13:1.0.1.1.16.8.253SUBJGRP 253
   Authority of CDCs To Perform Liquidation and Debt Collection Litigation
13:1.0.1.1.16.8.253.79SECTION 120.975
   120.975 CDC Liquidation of loans and debt collection litigation.
13:1.0.1.1.16.8.254SUBJGRP 254
   Enforceability of 501, 502 and 503 Loans and Other Laws
13:1.0.1.1.16.8.254.80SECTION 120.990
   120.990 501, 502 and 503 loans.
13:1.0.1.1.16.8.254.81SECTION 120.991
   120.991 Effect of other laws.
13:1.0.1.1.16.9SUBPART I
Subpart I - Risk-Based Lender Oversight
13:1.0.1.1.16.9.255SUBJGRP 255
   Supervision
13:1.0.1.1.16.9.255.1SECTION 120.1000
   120.1000 Risk-Based Lender Oversight.
13:1.0.1.1.16.9.255.2SECTION 120.1005
   120.1005 Bureau of PCLP Oversight.
13:1.0.1.1.16.9.255.3SECTION 120.1010
   120.1010 SBA access to SBA Lender and Intermediary files.
13:1.0.1.1.16.9.255.4SECTION 120.1015
   120.1015 Risk Rating System.
13:1.0.1.1.16.9.255.5SECTION 120.1025
   120.1025 Monitoring.
13:1.0.1.1.16.9.255.6SECTION 120.1050
   120.1050 Reviews and examinations.
13:1.0.1.1.16.9.255.7SECTION 120.1051
   120.1051 Frequency of reviews and examinations.
13:1.0.1.1.16.9.255.8SECTION 120.1055
   120.1055 Review and examination results.
13:1.0.1.1.16.9.255.9SECTION 120.1060
   120.1060 Confidentiality of Reports, Risk Ratings and related Confidential Information.
13:1.0.1.1.16.9.255.10SECTION 120.1070
   120.1070 SBA Lender oversight fees.
13:1.0.1.1.16.9.256SUBJGRP 256
   Enforcement Actions
13:1.0.1.1.16.9.256.11SECTION 120.1300
   120.1300 Informal enforcement actions - 7(a) Lenders.
13:1.0.1.1.16.9.256.12SECTION 120.1400
   120.1400 Grounds for enforcement actions - SBA Lenders.
13:1.0.1.1.16.9.256.13SECTION 120.1425
   120.1425 Grounds for formal enforcement actions - Intermediaries participating in the Microloan Program.
13:1.0.1.1.16.9.256.14SECTION 120.1500
   120.1500 Types of formal enforcement actions - SBA Lenders.
13:1.0.1.1.16.9.256.15SECTION 120.1510
   120.1510 Other Regulated SBLCs.
13:1.0.1.1.16.9.256.16SECTION 120.1511
   120.1511 Certification and other reporting and notification requirements for Other Regulated SBLCs.
13:1.0.1.1.16.9.256.17SECTION 120.1540
   120.1540 Types of formal enforcement actions - Intermediaries participating in the Microloan Program.
13:1.0.1.1.16.9.256.18SECTION 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.
13:1.0.1.1.16.10SUBPART J
Subpart J - Establishment of SBA Secondary Market Guarantee Program for First Lien Position 504 Loan Pools
13:1.0.1.1.16.10.257.1SECTION 120.1700
   120.1700 Definitions used in subpart J.
13:1.0.1.1.16.10.257.2SECTION 120.1701
   120.1701 Program purpose.
13:1.0.1.1.16.10.257.3SECTION 120.1702
   120.1702 Program fee.
13:1.0.1.1.16.10.257.4SECTION 120.1703
   120.1703 Qualifications to be a Pool Originator.
13:1.0.1.1.16.10.257.5SECTION 120.1704
   120.1704 Pool Loans eligible for Pooling.
13:1.0.1.1.16.10.257.6SECTION 120.1705
   120.1705 Pool formation requirements.
13:1.0.1.1.16.10.257.7SECTION 120.1706
   120.1706 Pool Originator's retained interest in Pool.
13:1.0.1.1.16.10.257.8SECTION 120.1707
   120.1707 Seller's retained Loan Interest.
13:1.0.1.1.16.10.257.9SECTION 120.1708
   120.1708 Pool Certificates.
13:1.0.1.1.16.10.257.10SECTION 120.1709
   120.1709 Transfers of Pool Certificates.
13:1.0.1.1.16.10.257.11SECTION 120.1710
   120.1710 Central servicing of the Program.
13:1.0.1.1.16.10.257.12SECTION 120.1711
   120.1711 Suspension or termination of Program participation privileges.
13:1.0.1.1.16.10.257.13SECTION 120.1712
   120.1712 Seller responsibilities with respect to Seller's Pool Loan.
13:1.0.1.1.16.10.257.14SECTION 120.1713
   120.1713 Seller's Pool Loan origination.
13:1.0.1.1.16.10.257.15SECTION 120.1714
   120.1714 Seller's Pool Loan servicing.
13:1.0.1.1.16.10.257.16SECTION 120.1715
   120.1715 Seller's Pool Loan liquidation.
13:1.0.1.1.16.10.257.17SECTION 120.1716
   120.1716 Required SBA approval of servicing actions.
13:1.0.1.1.16.10.257.18SECTION 120.1717
   120.1717 Seller's Pool Loan deferments.
13:1.0.1.1.16.10.257.19SECTION 120.1718
   120.1718 SBA's right to assume Seller's responsibilities.
13:1.0.1.1.16.10.257.20SECTION 120.1719
   120.1719 SBA's right to recover from Seller.
13:1.0.1.1.16.10.257.21SECTION 120.1720
   120.1720 SBA's right to review Pool Loan documents.
13:1.0.1.1.16.10.257.22SECTION 120.1721
   120.1721 SBA's right to investigate.
13:1.0.1.1.16.10.257.23SECTION 120.1722
   120.1722 SBA's offset rights.
13:1.0.1.1.16.10.257.24SECTION 120.1723
   120.1723 Pool Loan receivables received by Seller.
13:1.0.1.1.16.10.257.25SECTION 120.1724
   120.1724 Servicing and liquidation expenses.
13:1.0.1.1.16.10.257.26SECTION 120.1725
   120.1725 No Program Preference by Seller or Pool Originator.
13:1.0.1.1.16.10.257.27SECTION 120.1726
   120.1726 Pool Certificates a Seller cannot purchase.