13 CFR 123.409 - Which pre-disaster mitigation loan requests will SBA consider for funding?

§ 123.409 Which pre-disaster mitigation loan requests will SBA consider for funding?
(a) SBA will consider a loan request for funding if, after reviewing a complete application, SBA determines that it meets the following selection criteria:
(1) Your business satisfies the requirements of§§ 123.401, 123.402 and 123.403;
(2) None of the conditions specified in§ 123.404 apply to your business, its affiliates, or principal owners;
(3) Your business has submitted a reasonable cost estimate for the proposed mitigation measure and has chosen to undertake a mitigation measure that is likely to accomplish the desired mitigation result (SBA's determination of this point is not a guaranty that the project will prevent damage in future disasters);
(4) Your business is creditworthy; and
(5) There is a reasonable assurance of loan repayment in accordance with the terms of a loan agreement.
(b) SBA will notify you in writing if your loan request does not meet the criteria in this section.

Title 13 published on 2015-01-01.

No entries appear in the Federal Register after this date, for 13 CFR Part 123.

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