---
kind: "section"
citation: "13 C.F.R. § 120.611"
title: "13"
number: "120.611"
heading: "Pools backing Pool Certificates."
url: "https://uscodex.org/cfr/13/120.611"
---

# §120.611. Pools backing Pool Certificates.

- (a) **Pool characteristics.** As set forth in the Program Guide, each Pool must have:
  - (1) A minimum number of guaranteed portions of loans;
  - (2) A minimum aggregate principal balance of the guaranteed portions;
  - (3) A maximum percentage of the Pool which an individual guaranteed portion may constitute;
  - (4) A maximum allowable difference between the highest and lowest note interest rates;
  - (5) A maximum allowable difference between the remaining terms to maturity of the loans in the Pool;
  - (6) A minimum weighted average maturity at Pool formation; and
  - (7) A maximum allowable difference between the highest and lowest Net Rate on the guaranteed portions that are placed in a WAC Pool.
- (b) **Adjustment of Pool characteristics.** SBA may adjust the Pool characteristics periodically based upon program experience and market conditions.
- (c) **Increments of guaranteed portion.** If the amount of the guaranteed portion of an individual 7(a) guaranteed loan is more than $500,000, a Pool Assembler may elect to divide the guaranteed portion into increments of $500,000 and one increment of any remaining amount less than $500,000, in order to permit the maximum amount of any guaranteed portion in a Pool to be not more than $500,000. Only one increment from a loan to a specific borrower may be included in a Pool.

## Notes

### Amendments

[61 FR 3235, Jan. 31, 1996, as amended at 73 FR 67102, Nov. 13, 2008; 76 FR 63546, Oct. 12, 2011]

### 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 73 FR 67102, Nov. 13, 2008; 76 FR 63546, Oct. 12, 2011]