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Electronic Code of Federal Regulations

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

Title 13Chapter IPart 123Subpart F → §123.511


Title 13: Business Credit and Assistance
PART 123—DISASTER LOAN PROGRAM
Subpart F—Military Reservist Economic Injury Disaster Loans


§123.511   How will SBA disburse Military Reservist EIDL funds?

Funds will be disbursed only after the essential employee has been called to active duty, and you have provided a copy of the essential employee's official call-up orders for active duty showing the date of the call-up. SBA will disburse your funds in quarterly installments (unless otherwise specified in your loan authorization agreement) based on a continued need as demonstrated by comparative financial information. On or about 30 days before your scheduled fund disbursement, SBA will request ordinary and usual financial statements (including balance sheets and profit and loss statements). Based on this information, SBA will assess your continued need for disbursements under this program. Upon making such assessment, SBA will notify you of the status of future disbursements.

[73 FR 54675, Sept. 23, 2008]

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