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13 CFR 120.201

§ 120.201 Refinancing unsecured or undersecured loans.

United States · 13 CFR — Business Credit and Assistance · Status: effective

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13 CFR 120.201, § 120.201 Refinancing unsecured or undersecured loans, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52048
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A Borrower may not use 7(a) loan proceeds to pay any creditor in a position to sustain a loss causing a shift to SBA of all or part of a potential loss from an existing debt.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.