13 CFR 109.320 - ILP Loan purposes.

Regulations last checked for updates: Nov 22, 2024

Title 13 - Business Credit and Assistance last revised: Nov 20, 2024

View all text of Subpart C [§ 109.300 - § 109.360]

§ 109.320 - ILP Loan purposes.

(a) ILP Loan funds must only be used to provide direct loans to Eligible Small Business Concerns for working capital, real estate, or the acquisition of materials, supplies, furniture, fixtures, or equipment.

(b) ILP Loan funds must not be used for any other purpose, including maintenance of loan loss reserves or payment of administrative costs or expenses of the ILP Intermediary.

authority: 15 U.S.C. 634(b)(6), (b)(7), and 636(l)

source: 76 FR 18015, Apr. 1, 2011, unless otherwise noted.

cite as: 13 CFR 109.320