SBA's right to recover from Seller.

CFR · 2024-01-01 · US · Title 13

SBA is entitled to recover from Seller any monies paid on SBA's guarantee of a Pool Certificate backed in part by Seller's Pool Loan, plus interest, if SBA in its sole discretion determines that any of the following events has occurred: (a) Seller's improper action or inaction has put SBA at risk; (b) Seller has failed to disclose a material fact to SBA regarding a Seller's Pool Loan in a timely manner; (c) Seller has misrepresented a material fact to SBA regarding Seller's Pool Loan; (d) Seller has failed to comply materially with § 120.1720 of this subpart; (e) SBA has received a written request from Seller to terminate the SBA's guarantee on the Loan Interest in Seller's Pool Loan; (f) Seller has failed to comply materially with Program Rules and Regulations; or (g) Seller has failed to make, close, service or liquidate Seller's Pool Loan in a prudent manner.

official document · source cfr-2024 · id 13:§ 120.1719