13 CFR 120.376
§ 120.376 Special requirements.
United States · 13 CFR — Business Credit and Assistance · Status: effective
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- Citation
- 13 CFR 120.376, § 120.376 Special requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52090
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Full text
The following special conditions apply (otherwise, 7(a) loan eligibility criteria apply):
(a) The Associate Administrator for Business Development may waive the direct loan administrative ceiling of $150,000, and raise it to $750,000.
(b) The SBA portion of a guaranteed loan must not exceed $750,000.
(c) The interest rate on a guaranteed loan shall be the same as on 7(a) guaranteed business loans. The interest rate on a direct loan shall be one percent less than on a regular direct loan.
(d) For a direct loan or SBA's portion of an immediate participation loan, SBA shall subordinate its security interest on all collateral to other debt of the applicant.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.