13 C.F.R. § 120.512 Who services the loan after SBA honors its guarantee?
Title 13 - Business Credit and Assistance
Generally, after SBA honors its guarantee, the Lender must continue to hold the Loan Instruments and service and liquidate the loan. The Lender must execute a Certificate of Interest showing SBA's percentage of the loan, and must submit a liquidation plan to SBA for each loan to be liquidated. If SBA elects to service or liquidate the loan, the Lender must assign the Loan Instruments to SBA.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart E—Loan Administration
§ 120.512 Who services the loan after SBA honors its guarantee?
