§ 123.513. Does SBA require collateral on its Military Reservist EIDL?
102 words·~1 min read·
/us/cfr/t13/s§ 123.513·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
SBA will not generally require you to pledge collateral to secure a Military Reservist EIDL of \$50,000 or less. For loans larger than \$50,000, you will be required to provide available collateral such as a lien on business property, a security interest in personal property, or both. SBA will not decline a loan if you do not have a particular amount of collateral so long as SBA is reasonably sure that you can repay the loan. If you refuse to pledge the available collateral when requested by SBA, however, SBA may decline or cancel your loan. \[73 FR 54675, Sept. 23, 2008\]