§120.344. Unique requirements of the EWCP.
13 C.F.R. § 120.344
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.
SBA does not limit the amount of extraordinary servicing fees, as referenced in § 120.221(b), under the EWCP.
SBA does not prescribe the interest rates for the EWCP, but will monitor these rates for reasonableness.
Notes, amendments, and revision history
Amendments
[61 FR 3235, Jan. 31, 1996, as amended at 85 FR 7648, Feb. 10, 2020; 85 FR 80588, Dec. 14, 2020]
Authority
Authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182.
Source
Source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.
Amendments
[61 FR 3235, Jan. 31, 1996, as amended at 85 FR 7648, Feb. 10, 2020; 85 FR 80588, Dec. 14, 2020]