§ 120.320. Policy.
68 words·~1 min read·
/us/cfr/t13/s§ 120.320·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7(a)(11) of the Act authorizes SBA to guarantee or make direct loans to establish, preserve or strengthen small business concerns:
(a)Located in an area having high unemployment according to the Department of Labor;
(b)Located in an area in which a high percentage of individuals have a low income inadequate to satisfy basic family needs; and
(c)More than 50 percent owned by low income individuals.