Sec. 215. Reimbursement for processing
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Section 7(a)(36)(P) of the Small Business Act ( 15 U.S.C. 636(a)(36)(P) ) is amended— in clause (ii), by inserting at the end the following: Such fees shall be paid by the eligible recipient and may not be paid out of the proceeds of a covered loan. A lender shall only be responsible for paying fees to an agent for services for which such lender directly contracts with such agent. ; and by amending clause
(iii)to read as follows: A reimbursement described in clause
(i)shall be made not later than 5 days after the reported disbursement of the covered loan and may not be required to be repaid by a lender unless the lender is found guilty of an act of fraud in connection with the covered loan. .
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Sec. 215
Reimbursement for processing
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