13 CFR 120.846
§ 120.846 Requirements for maintaining and renewing PCLP status.
United States · 13 CFR — Business Credit and Assistance · Status: effective
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- Citation
- 13 CFR 120.846, § 120.846 Requirements for maintaining and renewing PCLP status, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52227
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Full text
(a) To maintain its status as a PCLP CDC, a CDC must continue to:
(1) Meet the PCLP eligibility requirements in § 120.845.
(2) Timely conform with all requirements and deadlines set forth in SBA's regulations and policy and procedural guidance concerning properly establishing, funding and reporting a PCLP Loan Loss Reserve Fund (LLRF).
(3) Substantially comply with all Loan Program Requirements.
(4) Remain an active CDC.
(5) In accordance with statutory requirements set forth in section 508(i) of Title V, 15 U.S.C. 697e(i), establish a goal of processing at least 50 percent of its 504 loans using PCLP procedures.
(b) SBA will notify the PCLP CDC in writing of a renewal or non-renewal of PCLP status. If PCLP status is not renewed, SBA will notify the CDC of the reasons for the decision.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.