ILP Intermediary eligibility and continuing participation requirements.

CFR · 2024-01-01 · US · Title 13

(a) (1) Private, nonprofit community development corporations; (2) Consortiums of private, nonprofit organizations or nonprofit community development corporations; and (3) Agencies of or nonprofit entities established by Native American tribal governments. (b) (c) (2) An ILP Intermediary must have a continuing ability to evaluate, process, close, disburse, service and liquidate small business loans including, but not limited to: (i) Holding sufficient permanent capital (as determined by SBA) to support lending activities under this program; and (ii) Maintaining satisfactory SBA performance, as determined by SBA in its discretion. (3) An ILP Intermediary must meet and maintain the ethical requirements of 13 CFR 120.140. (4) An ILP Intermediary (and any Affiliates) that participates in other SBA programs must be in compliance with those program requirements. (5) An ILP Intermediary must be in good standing with its Federal and/or State regulator, as applicable. (6) An ILP Intermediary must have the ability to comply with the ILP Program Requirements, including reporting requirements, as such requirements are revised from time to time, and maintain compliance with ILP Program Requirements for as long as the ILP Intermediary participates in the ILP program.

official document · source cfr-2024 · id 13:§ 109.100