§ 120.211. What limits are there on the amounts of direct loans?
142 words·~1 min read·
/us/cfr/t13/s§ 120.211·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The statutory limit for direct loans made under the authority of section 7(a)(1)-(19) of the Small Business Act is \$350,000. SBA has established an administrative limit of \$150,000 for direct loans. The D/FA may authorize acceptance of an application up to the statutory limit.
(b)The statutory limit for direct loans made under the authority of section 7(a)(20) is \$750,000. SBA has established an administrative limit of \$150,000. The Associate Administrator for Business Development may authorize the acceptance of an application that exceeds the administrative limit.
(c)The statutory limit on SBA's portion of an immediate participation loan is \$350,000. The administrative limit is the lesser of 75 percent of the loan or \$150,000. The D/FA may authorize exceptions to the administrative limit up to \$350,000. \[61 FR 3235, Jan. 31, 1996, as amended at 74 FR 45753, Sept. 4, 2009\]