Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 13 - Business Credit and Assistance |
Chapter I - Small Business Administration |
Part 108 - New Markets Venture Capital (“NMVC”) Program |
Subpart J - SBA Financial Assistance for NMVC Companies (Leverage) |
Conditional Commitments by SBA to Reserve Leverage for a NMVC Company |
§ 108.1240 - Funding of NMVC Company's draw request through sale to third-party.
Latest version.
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§ 108.1240 Funding of NMVC Company's draw request through sale to third-party.
(a) NMVC Company's authorization of SBA to arrange sale of securities to third-party. By submitting a request for a draw of Debenture Leverage, you authorize SBA, or any agent or trustee SBA designates, to enter into any agreements (and to bind you to such agreements) necessary to accomplish:
(1) The sale of your Debenture to a third-party at a rate approved by SBA; and
(2) The purchase of your security from the third-party and the pooling of your security with other securities with the same maturity date.
(b) Sale of Debentures to a third-party. If SBA arranges for the sale of your Debenture to a third-party, the sale price may be an amount discounted from the face amount of the Debenture.