13 C.F.R. § 120.837 SBA decision on application for a new CDC or for an existing CDC to expand Area of Operations.
Title 13 - Business Credit and Assistance
The processing District Office must solicit the comments of any other District Office in which the CDC operates or proposes to operate. The processing District Office must determine that the CDC is in compliance with SBA's regulations, policies, and performance benchmarks, including pre-approval and annual review by SBA of any management or staff contracts, and the timely submission of all annual reports. In making its recommendation on the application, the District Office may consider any information presented to it regarding the requesting CDC, the existing CDC, or CDCs that may be affected by the application, and the proposed Area of Operations. (a) The SBA District office will submit the application, recommendation, and supporting materials within 60 days of the receipt of a complete application from the CDC to the AA/FA, who will make the final decision. The AA/FA may consider any information submitted or available related to the applicant and the application. (b) SBA will notify the CDC of its decision in writing, and if the application is denied, the reasons for its decision. (c) If a CDC is approved to operate as a Multi-State CDC, the CDC's ALP, PCLP, or Priority CDC authority will carry over into every additional State in which it is approved to operate as a Multi-State CDC. [65 FR 42633, July 11, 2000, as amended at 68 FR 57981, Oct. 7, 2003]
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart H—Development Company Loan Program (504)
Extending a CDC'S Area of Operations
§ 120.837 SBA decision on application for a new CDC or for an existing CDC to expand Area of Operations.
