Requirement for qualified management.
When applying for a license, and while you have a license, you must show, to the satisfaction of SBA, that your current or proposed management team is qualified and has the knowledge, experience and capability necessary for investing in the types of businesses contemplated by the Act, the regulations in this part 107
, and your business plan. You must designate at least one individual as the official responsible for contact with SBA.
[61 FR 3189, Jan. 31, 1996, as amended at 77 FR 25051, Apr. 27, 2012]