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CFR › Title 13 › Chapter I › Part 107 › Subpart E › Section 107.570

13 CFR 107.570 - Restrictions on third-party debt of issuers of Participating Securities.

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§ 107.570 Restrictions on third-party debt of issuers of Participating Securities.
(a) General. Temporary Debt is the only debt (other than Leverage) that you are permitted to incur if you have applied to issue Participating Securities or if you have outstanding Participating Securities. For additional rules governing secured Temporary Debt, see § 107.550.
(b) Definition of Temporary Debt. Temporary Debt means your short-term borrowings if:
(1) Such borrowings are for the purpose of maintaining your operating liquidity or providing funds for a particular Financing of a Small Business;
(2) The funds are borrowed from a regulated financial institution or a regulated credit company (or, if approved by SBA on a case-by-case basis, from non-regulated lenders including shareholders or partners);
(3) Your total outstanding borrowings (not including Leverage) do not exceed 50 percent of your Leverageable Capital; and
(4) All such borrowings are fully paid off for at least 30 consecutive days during your fiscal year so that you have no outstanding third-party debt for 30 days.

Title 13 published on 2013-01-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 15 - COMMERCE AND TRADE

§ 681 - Organization

§ 682 - Capital requirements

§ 683 - Borrowing operations

§ 684 - Equity capital for small-business concerns

§ 685 - Long-term loans to small-business concerns

§ 686 - Aggregate limitations on amount of assistance to any single enterprise

§ 687 - Operation and regulation of companies

§ 687a - Revocation and suspension of licenses; cease and desist orders

§ 687b - Investigations and examinations; power to subpena and take oaths and affirmations; aid of courts; examiners; reports

§ 687c - Injunctions and other orders

§ 687d - Conflicts of interest

§ 687e - Removal or suspension of management officials

§ 687f - Unlawful acts and omissions by officers, directors, employees, or agents

§ 687g - Penalties and forfeitures

§ 687h - Jurisdiction and service of process

§ 687i, 687j - Repealed.

§ 687k - Guaranteed obligations not eligible for purchase by Federal Financing Bank

15 USC § -

§ 687m - Periodic issuance of guarantees and trust certificates

§ 688 - Repealed.

Statutes at Large

114 Stat. 2763

123 Stat. 115