§ 120.612. Loans eligible to back Certificates.
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/us/cfr/t13/s§ 120.612·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Pool Certificates are backed by the SBA guaranteed portions of loans comprising the Pool. An Individual Certificate is backed by the SBA guaranteed portion of a single loan. Any such loan must:
(1)Be current as of the date the Pool is formed or the individual guaranteed portion of a loan is initially sold in the Secondary Market;
(2)Be guaranteed under the Act; and
(3)Meet such other standards as SBA may determine to be necessary for the successful operation of the Secondary Market program.
(b)The loans that back a Pool must meet the SBA requirements in effect at the time the Pool is formed.
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§ 120.612
Loans eligible to back Certificates.
Fed. Reg.×1
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