Special requirements.

CFR · 2024-01-01 · US · Title 13

The following special conditions apply (otherwise, 7(a) loan eligibility criteria apply): (a) The Associate Administrator for Business Development may waive the direct loan administrative ceiling of $150,000, and raise it to $750,000. (b) The SBA portion of a guaranteed loan must not exceed $750,000. (c) The interest rate on a guaranteed loan shall be the same as on 7(a) guaranteed business loans. The interest rate on a direct loan shall be one percent less than on a regular direct loan. (d) For a direct loan or SBA's portion of an immediate participation loan, SBA shall subordinate its security interest on all collateral to other debt of the applicant.

official document · source cfr-2024 · id 13:§ 120.376