13 CFR 120.522 - Payment of accrued interest to the Lender or Registered Holder when SBA purchases the guaranteed portion.
(1) The rate in the note if it is a fixed rate loan; or
(b)Payment to Lender -
(1)For loans approved on or after May 14, 2007. SBA will pay up to a maximum of 120 days interest to a Lender at the time of guarantee purchase.
(2)For loans approved before May 14, 2007. The regulations applicable to the amount of interest that SBA will pay to a Lender upon loan default that were in effect immediately prior to this date will govern such loans.