13 C.F.R. § 120.600 Definitions.
Title 13 - Business Credit and Assistance
(a) Certificate is the document the FTA issues representing a beneficial fractional interest in a Pool (Pool Certificate), or an undivided interest in the entire guaranteed portion of an individual 7(a) guaranteed loan (Individual Certificate). (b) Current means that no repayment from a Borrower to a Lender is over 29 days late measured from the due date of the payment on the records of the FTA's central registry (Pools) or the entity servicing the loan (individual guaranteed portion). (c) FTA is the SBA's fiscal and transfer agent. (d) Note Rate is the interest rate on the Borrower's note. (e) Net Rate is the interest rate on an individual guaranteed portion of a loan in a Pool. (f) Pool is an aggregation of SBA guaranteed portions of loans made by Lenders. (g) Pool Assembler is a financial institution that: (1) Organizes and packages a Pool by acquiring the SBA guaranteed portions of loans from Lenders; (2) Resells fractional interests in the Pool to Registered Holders; and (3) Directs the FTA to issue Certificates. (h) Pool Rate is the interest rate on a Pool Certificate. (i) Registered Holder is the Certificate owner listed in FTA's records. (j) SBA's Secondary Market Program Guide is an issuance from SBA which describes the characteristics of Secondary Market transactions.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart F—Secondary Market
Fiscal and Transfer Agent (FTA)
§ 120.600 Definitions.
