§ 120.344 - Unique requirements of the EWCP.

§ 120.344 Unique requirements of the EWCP.

Cross Reference

Link to an amendment published at 85 FR 80588, Dec. 14, 2020.

(a) An applicant must submit cash flow projections to support the need for the loan and the ability to repay. After the loan is made, the loan recipient must submit continual progress reports.

(b) SBA does not limit the amount of extraordinary servicing fees, as referenced in § 120.221(b), under the EWCP, provided the fees are reasonable and prudent.

(c) SBA does not prescribe the interest rates for the EWCP, but will monitor these rates for reasonableness.

[61 FR 3235, Jan. 31, 1996, as amended at 85 FR 7648, Feb. 10, 2020; 85 FR 80588, Dec. 14, 2020]