13 CFR 120.1718: SBA's right to assume Seller's responsibilities.
Where this section sits in the code
- Title 13—Business Credit and Assistance
- CHAPTER I—SMALL BUSINESS ADMINISTRATION
- PART 120—BUSINESS LOANS
- Subpart J—Establishment of SBA Secondary Market Guarantee Program for First Lien Position 504 Loan Pools
SBA may, in its sole discretion, undertake the servicing, liquidation and/or litigation of Seller's Pool Loan at any time and, in such event, Seller must take any steps necessary to facilitate the assumption by SBA of such responsibilities, which can be transferred by SBA at its discretion to a contractor, agent or other entity, and such steps shall include, among other things, providing or assigning to SBA any documents requested by SBA within 15 calendar days of Seller's receipt of such request. SBA will notify the Obligor of the change in servicing.
Collected 2026-08-27T02:24:18Z. Source file · JSON