Document Citation: 13 CFR 123.409

Header:
CODE OF FEDERAL REGULATIONS
TITLE 13 -- BUSINESS CREDIT AND ASSISTANCE
CHAPTER I -- SMALL BUSINESS ADMINISTRATION
PART 123 -- DISASTER LOAN PROGRAM
SUBPART E -- PRE-DISASTER MITIGATION LOANS

Date:
01/17/2012

Document:
§ 123.409 Which pre-disaster mitigation loan requests will SBA consider for funding?

(a) SBA will consider a loan request for funding if, after reviewing a complete application, SBA determines that it meets the following selection criteria:

(1) Your business satisfies the requirements of §§ 123.401, 123.402 and 123.403;

(2) None of the conditions specified in § 123.404 apply to your business, its affiliates, or principal owners;

(3) Your business has submitted a reasonable cost estimate for the proposed mitigation measure and has chosen to undertake a mitigation measure that is likely to accomplish the desired mitigation result (SBA's determination of this point is not a guaranty that the project will prevent damage in future disasters);

(4) Your business is creditworthy; and

(5) There is a reasonable assurance of loan repayment in accordance with the terms of a loan agreement.

(b) SBA will notify you in writing if your loan request does not meet the criteria in this section.