§ 107.1200. SBA's Leverage commitment to a Licensee---application procedure, amount, and term.
133 words·~1 min read·
/us/cfr/t13/s§ 107.1200·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General. Under the provisions in §§ 107.1200 through 107.1240, you may apply for SBA's conditional commitment to reserve a specific amount and type of Leverage for your future use. You may then apply to draw down Leverage against the commitment.
(b)Applying for a Leverage commitment. SBA will notify you when it is accepting requests for Leverage commitments. Upon receipt of your request, SBA will send you a complete application package.
(c)Limitations on the amount of a Leverage commitment. The amount of a Leverage commitment must be a multiple of \$5,000.
(d)Term of Leverage commitment. SBA's Leverage commitment will automatically lapse on the expiration date stated in the commitment letter issued to you by SBA. \[61 FR 3189, Jan. 31, 1996, as amended at 63 FR 5868, Feb. 5, 1998\]