13 CFR 120.1719
§ 120.1719 SBA's right to recover from Seller.
United States · 13 CFR — Business Credit and Assistance · Status: effective
Cite this
- Citation
- 13 CFR 120.1719, § 120.1719 SBA's right to recover from Seller, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52323
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Full text
SBA is entitled to recover from Seller any monies paid on SBA's guarantee of a Pool Certificate backed in part by Seller's Pool Loan, plus interest, if SBA in its sole discretion determines that any of the following events has occurred:
(a) Seller's improper action or inaction has put SBA at risk;
(b) Seller has failed to disclose a material fact to SBA regarding a Seller's Pool Loan in a timely manner;
(c) Seller has misrepresented a material fact to SBA regarding Seller's Pool Loan;
(d) Seller has failed to comply materially with § 120.1720 of this subpart;
(e) SBA has received a written request from Seller to terminate the SBA's guarantee on the Loan Interest in Seller's Pool Loan;
(f) Seller has failed to comply materially with Program Rules and Regulations; or
(g) Seller has failed to make, close, service or liquidate Seller's Pool Loan in a prudent manner.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.