Definitions.

CFR · 2024-01-01 · US · Title 7

(a) The following general definitions are applicable to the terms used in this subpart. (1) Has a remaining principal guaranteed loan balance of two-thirds or less of the original aggregate of all existing B&I guaranteed loans made to that business. (2) Is in compliance with all loan conditions and B&I regulations. (3) Has been current on the B&I guaranteed loan(s) payments for 24 consecutive months. (4) Is secured by collateral which is determined to be adequate to ensure there will be no loss on the B&I guaranteed loan. (b) Accounting terms not otherwise defined in this part shall have the definition ascribed to them under generally accepted accounting principles (GAAP).

official document · source cfr-2024 · id 7:§ 1980.402