[Code of Federal Regulations]

[Title 13, Volume 1]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 13CFR123.16]



[Page 347]

 

                TITLE 13--BUSINESS CREDIT AND ASSISTANCE

 

                CHAPTER I--SMALL BUSINESS ADMINISTRATION

 

PART 123_DISASTER LOAN PROGRAM--Table of Contents

 

                           Subpart A_Overview

 

Sec. 123.16  How are loans administered and serviced?



    (a) If you obtained your disaster loan from a participating lender, 

that lender is responsible for closing and servicing your loan. If you 

obtained your loan directly from SBA, your loan will be closed and 

serviced by SBA. The SBA rules on servicing are found in part 120 of 

this chapter.

    (b) If you are unable to pay your SBA loan installments in a timely 

manner for reasons substantially beyond your control, you may request 

that SBA suspend your loan payments, extend your maturity, or both.