---
kind: "section"
citation: "13 C.F.R. § 120.377"
title: "13"
number: "120.377"
heading: "Use of proceeds."
url: "https://uscodex.org/cfr/13/120.377"
---

# §120.377. Use of proceeds.


The loan proceeds shall not be used for debt refinancing. Only a manufacturing concern may use loan proceeds for working capital.


## Notes

### 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.