Home/CFR/Title 13/Part 120
FEDERAL · 13 CFR

Part 120 — Business Loans

310 sections · Title 13: Business Credit and Assistance

§ 120.1Which loan programs does this part cover?
§ 120.2Descriptions of the business loan programs.
§ 120.3Pilot programs.
§ 120.4Severability.
§ 120.10Definitions.
§ 120.100What are the basic eligibility requirements for all applicants for SBA business loans?
§ 120.101Credit not available elsewhere.
§ 120.102§ 120.102 [Reserved]
§ 120.104Are businesses financed by SBICs eligible?
§ 120.105Special consideration for veterans.
§ 120.110What businesses are ineligible for SBA business loans?
§ 120.111What conditions must an Eligible Passive Company satisfy?
§ 120.120What are eligible uses of proceeds?
§ 120.130Restrictions on uses of proceeds.
§ 120.131Leasing part of new construction or existing building to another business.
§ 120.140What ethical requirements apply to participants?
§ 120.150What are SBA's lending criteria?
§ 120.151What is the statutory limit for total loans to a Borrower?
§ 120.160Loan conditions.
§ 120.170Flood insurance.
§ 120.171Compliance with child support obligations.
§ 120.172Flood-plain and wetlands management.
§ 120.174Earthquake hazards.
§ 120.175Coastal barrier islands.
§ 120.176Compliance with other laws.
§ 120.180Compliance with Loan Program Requirements.
§ 120.181Status of Lenders and CDCs.
§ 120.190Where does an applicant apply for a loan?
§ 120.191The contents of a business loan application.
§ 120.192Approval or denial.
§ 120.193Reconsideration after denial.
§ 120.194§ 120.194 [Reserved]
§ 120.195Disclosure of fees.
§ 120.197Notifying SBA's Office of Inspector General of suspected fraud.
§ 120.200What bonding requirements exist during construction?
§ 120.201Refinancing unsecured or undersecured loans.
§ 120.202Loans for changes of ownership.
§ 120.210What percentage of a loan may SBA guarantee?
§ 120.211What limits are there on the amounts of direct loans?
§ 120.212What limits are there on loan maturities?
§ 120.213What fixed interest rates may a Lender charge?
§ 120.214What conditions apply for variable interest rates?
§ 120.220Fees that Lender pays SBA.
§ 120.221Fees and expenses that the Lender may collect from a loan applicant or Borrower.
§ 120.222Prohibition on sharing premiums for secondary market sales.
§ 120.223Subsidy recoupment fee payable to SBA by Borrower.
§ 120.300Statutory authority.
§ 120.310What assistance is available for the disabled?
§ 120.311Definitions.
§ 120.312DAL-1 use of proceeds and other program conditions.
§ 120.313DAL-2 use of proceeds and other program conditions.
§ 120.314Resolving doubts about creditworthiness.
§ 120.315Interest rate and loan limit.
§ 120.320Policy.
§ 120.330Who is eligible for an energy conservation loan?
§ 120.331What devices or techniques are eligible for a loan?
§ 120.332What are the eligible uses of proceeds?
§ 120.333Are there any special credit criteria?
§ 120.340What is the Export Working Capital Program?
§ 120.341Who is eligible?
§ 120.342What are eligible uses of proceeds?
§ 120.343Collateral.
§ 120.344Unique requirements of the EWCP.
§ 120.345Policy.
§ 120.346Eligibility.
§ 120.347Use of proceeds.
§ 120.348Amount of guarantee.
§ 120.349Collateral.
§ 120.350Policy.
§ 120.351Definitions.
§ 120.352Use of proceeds.
§ 120.353Eligibility.
§ 120.354Creditworthiness.
§ 120.360Which veterans are eligible?
§ 120.361Other conditions of eligibility.
§ 120.375Policy.
§ 120.376Special requirements.
§ 120.377Use of proceeds.
§ 120.390Revolving credit.
§ 120.391What is the Builders Loan Program?
§ 120.392Who may apply?
§ 120.393Are there special application requirements?
§ 120.394What are the eligible uses of proceeds?
§ 120.395What is SBA's collateral position?
§ 120.396What is the term of the loan?
§ 120.397Are there any special restrictions?
§ 120.398America's Recovery Capital (ARC) Loan Program.
§ 120.400Loan Guarantee Agreements.
§ 120.410Requirements for all participating Lenders.
§ 120.411Preferences.
§ 120.412Other services Lenders may provide Borrowers.
§ 120.413Advertisement of relationship with SBA.
§ 120.420Definitions.
§ 120.421Which Lenders may securitize?
§ 120.422Are all securitizations subject to this subpart?
§ 120.423Which 7(a) loans may a Lender securitize?
§ 120.424What are the basic conditions a Lender must meet to securitize?
§ 120.425What are the minimum elements that SBA will require before consenting to a securitization?
§ 120.426What action will SBA take if a securitizer transfers the subordinated tranche prior to the termination of the holding period?
§ 120.427Will SBA approve a securitization application from a capital impaired Securitizer?
§ 120.428What happens to a securitizer's other PLP responsibilities if SBA suspends its PLP approval privilege?
§ 120.430What conveyances are covered by §§ 120.430 through 120.435?
§ 120.431Which Lenders may sell, sell participations in, or pledge 7(a) loans?
§ 120.432Under what circumstances does this subpart permit sales of, or sales of participating interests in, 7(a) loans?
§ 120.433What are SBA's other requirements for sales and sales of participating interests?
§ 120.434What are SBA's requirements for loan pledges?
§ 120.435Which loan pledges do not require notice to or consent by SBA?
§ 120.440How does a 7(a) Lender obtain delegated authority?
§ 120.441-§ 120.447§ 120.441-§ 120.447 [Reserved]
§ 120.450What is the Preferred Lenders Program?
§ 120.451§ 120.451 [Reserved]
§ 120.452What are the requirements of PLP loan processing?
§ 120.460What are SBA's additional requirements for SBA Supervised Lenders?
§ 120.461What are SBA's additional requirements for SBA Supervised Lenders concerning records?
§ 120.462What are SBA's additional requirements on capital maintenance for SBA Supervised Lenders?
§ 120.463Regulatory accounting—What are SBA's regulatory accounting requirements for SBA Supervised Lenders?
§ 120.464Reports to SBA.
§ 120.465Civil penalty for late submission of required reports.
§ 120.466SBA Supervised Lender application.
§ 120.467Evaluation of SBA Supervised Lender applicants.
§ 120.468Change of ownership or control requirements for SBA Supervised Lenders.
§ 120.470What are SBA's additional requirements for SBLCs?
§ 120.471What are the minimum capital requirements for SBLCs?
§ 120.472Higher individual minimum capital requirement.
§ 120.473Procedures for determining individual minimum capital requirement.
§ 120.474Relation to other actions.
§ 120.475§ 120.475 [Reserved]
§ 120.476Prohibited financing.
§ 120.490Audits.
§ 120.520Purchase of 7(a) loan guarantees.
§ 120.521What interest rate applies after SBA purchases its guaranteed portion?
§ 120.522Payment of accrued interest to the Lender or Registered Holder when SBA purchases the guaranteed portion.
§ 120.523What is the “earliest uncured payment default”?
§ 120.524When is SBA released from liability on its guarantee?
§ 120.530Deferment of payment.
§ 120.531Extension of maturity.
§ 120.535Standards for Lender and CDC loan servicing, loan liquidation and debt collection litigation.
§ 120.536Servicing and liquidation actions that require the prior written consent of SBA.
§ 120.540Liquidation and litigation plans.
§ 120.541Time for approval by SBA.
§ 120.542Payment by SBA of legal fees and other expenses.
§ 120.545What 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?
§ 120.546Loan asset sales.
§ 120.550What is homestead protection for farmers?
§ 120.551Who is eligible for homestead protection?
§ 120.552Lease.
§ 120.553Appeal.
§ 120.554Conflict of laws.
§ 120.600Definitions.
§ 120.601SBA Secondary Market.
§ 120.610Form and terms of Certificates.
§ 120.611Pools backing Pool Certificates.
§ 120.612Loans eligible to back Certificates.
§ 120.613Secondary Participation Guarantee Agreement.
§ 120.620SBA guarantee of a Pool Certificate.
§ 120.621SBA guarantee of an Individual Certificate.
§ 120.630Qualifications to be a Pool Assembler.
§ 120.631Suspension or termination of Pool Assembler.
§ 120.640Administration of the Pool and Individual Certificates.
§ 120.641Disclosure to purchasers.
§ 120.642Requirements before the FTA issues Pool Certificates.
§ 120.643Requirements before the FTA issues Individual Certificates.
§ 120.644Transfers of Certificates.
§ 120.645Redemption of Certificates.
§ 120.650Registration duties of FTA in Secondary Market.
§ 120.651Claim to FTA by Registered Holder to replace Certificate.
§ 120.652FTA fees.
§ 120.660Suspension or revocation.
§ 120.700What is the Microloan Program?
§ 120.701Definitions.
§ 120.702Are there limitations on who can be an Intermediary or on where an Intermediary may operate?
§ 120.703How does an organization apply to become an Intermediary?
§ 120.704How are applications evaluated?
§ 120.705What is a Specialized Intermediary?
§ 120.706What are the terms and conditions of an SBA loan to an Intermediary?
§ 120.707What conditions apply to loans by Intermediaries to Microloan borrowers?
§ 120.708What is the Intermediary's financial contribution?
§ 120.709What is the Microloan Revolving Fund?
§ 120.710What is the Loan Loss Reserve Fund?
§ 120.711What rules govern Intermediaries?
§ 120.712How does an Intermediary get a grant to assist Microloan borrowers?
§ 120.713Does SBA provide technical assistance to Intermediaries?
§ 120.714-120.715§§ 120.714-120.715 [Reserved]
§ 120.716What is the minimum number of loans an Intermediary must make each Federal fiscal year?
§ 120.800§ 120.800 [Reserved]
§ 120.801How a 504 Project is financed.
§ 120.802Definitions.
§ 120.810Applications for certification as a CDC.
§ 120.812Probationary period for newly certified CDCs.
§ 120.816CDC non-profit status and good standing.
§ 120.818Applicability to existing for-profit CDCs.
§ 120.820CDC Affiliation.
§ 120.821CDC Area of Operations.
§ 120.823CDC Board of Directors.
§ 120.824Professional management and staff, and contracts for services.
§ 120.825Financial ability to operate.
§ 120.826Basic requirements for operating a CDC.
§ 120.827Other services a CDC may provide to small businesses.
§ 120.828Minimum level of 504 loan activity and restrictions on portfolio concentrations.
§ 120.829Job Opportunity average a CDC must maintain.
§ 120.830Reports a CDC must submit.
§ 120.835Application to expand an Area of Operations.
§ 120.837SBA decision on application for a new CDC or for an existing CDC to expand Area of Operations.
§ 120.839Case-by-case application to make a 504 loan outside of a CDC's Area of Operations.
§ 120.840Accredited Lenders Program (ALP).
§ 120.841Qualifications for the ALP.
§ 120.842ALP Express Loans.
§ 120.845Premier Certified Lenders Program (PCLP).
§ 120.846Requirements for maintaining and renewing PCLP status.
§ 120.847Requirements for the Loan Loss Reserve Fund (LLRF).
§ 120.848Requirements for 504 loan processing, closing, servicing, liquidating, and litigating by PCLP CDCs.
§ 120.851CDC ethical requirements.
§ 120.852§ 120.852 [Reserved]
§ 120.853Inspector General audits of CDCs.
§ 120.857Voluntary transfer and surrender of CDC certification.
§ 120.860Required objectives.
§ 120.861Job creation or retention.
§ 120.862Other economic development objectives.
§ 120.870Leasing Project Property.
§ 120.871Leasing part of Project Property to another business.
§ 120.880Basic eligibility requirements.
§ 120.881Ineligible Projects for 504 loans.
§ 120.882Eligible Project costs for 504 loans.
§ 120.883Eligible administrative costs for 504 loans.
§ 120.884Ineligible costs for 504 loans.
§ 120.890Source of interim financing.
§ 120.891Certifications of disbursement and completion.
§ 120.892Certifications of no adverse change.
§ 120.900Sources of permanent financing.
§ 120.910Borrower contributions.
§ 120.911Land contributions.
§ 120.912Borrowed contributions.
§ 120.913Limitations on any contributions by a Licensee.
§ 120.920Required participation by the Third Party Lender.
§ 120.921Terms of Third Party loans.
§ 120.922Pre-existing debt on the Project Property.
§ 120.923Policies on subordination.
§ 120.925§ 120.925 [Reserved]
§ 120.926Referral fee.
§ 120.930Amount.
§ 120.931504 Lending limits.
§ 120.932Interest rate.
§ 120.933Maturity.
§ 120.934Collateral.
§ 120.935Deposit from the Borrower that a CDC may require.
§ 120.937Assumption.
§ 120.938Default.
§ 120.939Borrower prohibition.
§ 120.940Prepayment of the 504 loan or Debenture.
§ 120.941Certificates.
§ 120.950SBA and CDC must appoint agents.
§ 120.951Selling agent.
§ 120.952Fiscal agent.
§ 120.953Trustee.
§ 120.954Central Servicing Agent.
§ 120.955Agent bonds and records.
§ 120.956Suspension or revocation of brokers and dealers.
§ 120.960Responsibility for closing.
§ 120.961Construction escrow accounts.
§ 120.970Servicing of 504 loans and Debentures.
§ 120.971Allowable fees paid by Borrower.
§ 120.972Third Party Lender participation fee and CDC fee.
§ 120.975CDC Liquidation of loans and debt collection litigation.
§ 120.990501, 502 and 503 loans.
§ 120.991Effect of other laws.
§ 120.1000Risk-Based Lender Oversight.
§ 120.1005Bureau of PCLP Oversight.
§ 120.1010SBA access to SBA Lender and Intermediary files.
§ 120.1015Risk Rating System.
§ 120.1025Monitoring.
§ 120.1050Reviews and examinations.
§ 120.1051Frequency of reviews and examinations.
§ 120.1055Review and examination results.
§ 120.1060Confidentiality of Reports, Risk Ratings and related Confidential Information.
§ 120.1070SBA Lender oversight fees.
§ 120.1300Informal enforcement actions—7(a) Lenders.
§ 120.1400Grounds for enforcement actions—SBA Lenders.
§ 120.1425Grounds for formal enforcement actions—Intermediaries participating in the Microloan Program.
§ 120.1500Types of formal enforcement actions—SBA Lenders.
§ 120.1510Other Regulated SBLCs.
§ 120.1511Certification and other reporting and notification requirements for Other Regulated SBLCs.
§ 120.1540Types of formal enforcement actions—Intermediaries participating in the Microloan Program.
§ 120.1600General procedures for formal enforcement actions against SBA Lenders, SBA Supervised Lenders, Other Regulated SBLCs, Management Officials, Other Persons, and Intermediaries.
§ 120.1700Definitions used in subpart J.
§ 120.1701Program purpose.
§ 120.1702Program fee.
§ 120.1703Qualifications to be a Pool Originator.
§ 120.1704Pool Loans eligible for Pooling.
§ 120.1705Pool formation requirements.
§ 120.1706Pool Originator's retained interest in Pool.
§ 120.1707Seller's retained Loan Interest.
§ 120.1708Pool Certificates.
§ 120.1709Transfers of Pool Certificates.
§ 120.1710Central servicing of the Program.
§ 120.1711Suspension or termination of Program participation privileges.
§ 120.1712Seller responsibilities with respect to Seller's Pool Loan.
§ 120.1713Seller's Pool Loan origination.
§ 120.1714Seller's Pool Loan servicing.
§ 120.1715Seller's Pool Loan liquidation.
§ 120.1716Required SBA approval of servicing actions.
§ 120.1717Seller's Pool Loan deferments.
§ 120.1718SBA's right to assume Seller's responsibilities.
§ 120.1719SBA's right to recover from Seller.
§ 120.1720SBA's right to review Pool Loan documents.
§ 120.1721SBA's right to investigate.
§ 120.1722SBA's offset rights.
§ 120.1723Pool Loan receivables received by Seller.
§ 120.1724Servicing and liquidation expenses.
§ 120.1725No Program Preference by Seller or Pool Originator.
§ 120.1726Pool Certificates a Seller cannot purchase.