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Electronic Code of Federal Regulations

e-CFR data is current as of March 26, 2020

Title 13Chapter IPart 123Subpart F → §123.513


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


§123.513   Does SBA require collateral on its Military Reservist EIDL?

SBA will not generally require you to pledge collateral to secure a Military Reservist EIDL of $50,000 or less. For loans larger than $50,000, you will be required to provide available collateral such as a lien on business property, a security interest in personal property, or both. SBA will not decline a loan if you do not have a particular amount of collateral so long as SBA is reasonably sure that you can repay the loan. If you refuse to pledge the available collateral when requested by SBA, however, SBA may decline or cancel your loan.

[73 FR 54675, Sept. 23, 2008]

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