13 C.F.R. § 120.441 How does a Lender become a CLP Lender?
Title 13 - Business Credit and Assistance
(a) An SBA field office may nominate a Lender or a Lender may request a field office to consider it for CLP status. SBA district directors may approve and renew a Lender's CLP status. The district director will consider whether the Lender: (1) Has the ability to process, close, service and liquidate loans; (2) Has a satisfactory performance history with SBA, including the submission of complete and accurate loan guarantee application packages; (3) Has an acceptable SBA purchase rate; and (4) Has shown the ability to work well with the local SBA office. (b) If the district director does not approve a request for CLP status, the Lender may appeal to the AA/FA, whose decision will be final. If SBA grants CLP status, it applies only in the field office that processed the CLP designation. A CLP Lender must execute a Supplemental Guarantee Agreement that will specify a term not to exceed two years.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart D—Lenders
§ 120.441 How does a Lender become a CLP Lender?
