13 C.F.R. § 120.846 Requirements for maintaining and renewing PCLP status.
Title 13 - Business Credit and Assistance
(a) To maintain its status as a PCLP CDC, a CDC must continue to: (1) Meet the PCLP eligibility requirements in §120.845. (2) Timely conform with all requirements and deadlines set forth in SBA's regulations and policy and procedural guidance concerning properly establishing, funding and reporting a PCLP Loan Loss Reserve Fund (LLRF). (3) Substantially comply with all 504 program requirements imposed by statute, regulation, SOPs, policy and procedural notices, loan authorizations, Debentures, and agreements between the CDC and SBA. (4) Remain an active CDC. (5) In accordance with statutory requirements set forth in section 508(i) of Title V, 15 U.S.C. 697e(i), establish a goal of processing at least 50 percent of its 504 loans using PCLP procedures. (b) SBA will notify the PCLP CDC in writing of a renewal or non-renewal of PCLP status. If PCLP status is not renewed, SBA will notify the CDC of the reasons for the decision. [68 FR 57983, Oct. 7, 2003]
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart H—Development Company Loan Program (504)
Premier Certified Lenders Program
§ 120.846 Requirements for maintaining and renewing PCLP status.
