Małe firmy · 18.05.1998

Business Loan Programs

The U.S. Small Business Administration (SBA) proposes a rule to allow all participating Lenders to sell, securitize, sell a participating interest in, or pledge the unguaranteed portion of 7(a) loans. The proposal has two components: securitizations; and pledges, sales of participations, and sales other than for the purpose of securitizing. In the first component, SBA establishes a three level unified approach to regulating securitization. This approach would apply to all securitizers and is designed to help ensure the safety and soundness of the 7(a) program. The approach focuses on the quality of the securitizer's underwriting and servicing and the performance of the securitizer's loans. In the second component, SBA sets forth the requirements that Lenders must meet to pledge, sell a participating interest in, or sell (other than for the purpose of securitizing) 7(a) loans. If this proposal becomes final, it would replace the present Interim Final Rule published on April 2, 1997, at 62 FR 15601 (the ``Interim Final Rule''). The proposed rule would amend 13 CFR Sec. 120.420, add Secs. 110.421-120.429, renumber Secs. 120.430 and 120.431 as Secs. 120.414 and 120.415, and add Secs. 1