Which loan pledges do not require notice to or consent by SBA?

CFR · 2024-01-01 · US · Title 13

(a) Notwithstanding the provisions of § 120.434(e), 7(a) loans may be pledged for the following purposes without notice to or consent by SBA: (1) Treasury tax and loan accounts; (2) The deposit of public funds; (3) Uninvested trust funds; (4) Borrowings from a Federal Reserve Bank; or (5) Advances by a Federal Home Loan Bank. (b) For purposes of the Paycheck Protection Program (PPP), the other provisions of § 120.434 shall also not apply to PPP loans pledged under paragraph (a)(4) or (5) of this section.

official document · source cfr-2024 · id 13:§ 120.435