13 CFR 123.10
§ 123.10 What happens if I cannot use my insurance proceeds to make repairs?
United States · 13 CFR — Business Credit and Assistance · Status: effective
Cite this
- Citation
- 13 CFR 123.10, § 123.10 What happens if I cannot use my insurance proceeds to make repairs?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52423
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Full text
If you must pay insurance proceeds to the holder of a recorded lien or encumbrance against your damaged property instead of using them to make repairs, you may apply to SBA for the full amount needed to make such repairs. If you voluntarily pay insurance proceeds to a recorded lienholder, your loan eligibility is reduced by the amount of the voluntary payment.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.