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Electronic Code of Federal Regulations

e-CFR data is current as of April 2, 2020

Title 13Chapter IPart 123Subpart E → §123.409


Title 13: Business Credit and Assistance
PART 123—DISASTER LOAN PROGRAM
Subpart E—Pre-Disaster Mitigation Loans


§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.

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