13 CFR 123.15 - What if I change my mind?

Regulations last checked for updates: Nov 22, 2024

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

View all text of Subpart A [§ 123.1 - § 123.22]

§ 123.15 - What if I change my mind?

If SBA required you to pledge collateral for your loan, you may change your mind and rescind your loan pursuant to the Consumer Credit Protection Act, 15 U.S.C. 1601,and,12. Your note and any collateral documents signed by you will be canceled upon your return of all loan proceeds and your payment of any interest accrued. This provision does not apply to IDAP loans.

[61 FR 3304, Jan. 31, 1996, as amended at 75 FR 60598, Oct. 1, 2010]

authority: 15 U.S.C. 632,634,636,636,657n,and

source: 61 FR 3304, Jan. 31, 1996, unless otherwise noted.

cite as: 13 CFR 123.15