[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: 13CFR123.409]



[Page 356]

 

                TITLE 13--BUSINESS CREDIT AND ASSISTANCE

 

                CHAPTER I--SMALL BUSINESS ADMINISTRATION

 

PART 123_DISASTER LOAN PROGRAM--Table of Contents

 

                 Subpart E_Pre-Disaster Mitigation Loans

 

Sec. 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 Sec. Sec. 123.401, 

123.402 and 123.403;

    (2) None of the conditions specified in Sec. 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.