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Code · CFR · Title 13 — Business Credit and Assistance · Part 120 — Business Loans · § 120.645

§ 120.645. Redemption of Certificates.

60 words·~1 min read·/us/cfr/t13/s§ 120.645·

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(a)Redemption of Individual Certificate. The prepayment of the underlying loan or a default on such loan will trigger the redemption of the Certificate by FTA/SBA in accordance with the procedures prescribed in the SPGA.
(b)Redemption of Pool Certificate. The FTA and SBA may redeem a Pool Certificate because of prepayment or default of all loans in a Pool.
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