§120.700. What is the Microloan Program?
13 C.F.R. § 120.700
The Microloan Program assists women, low income individuals, minority entrepreneurs, and other small businesses which need small amounts of financial assistance. Under this program, SBA makes direct and guaranteed loans to Intermediaries (as defined below) who use the proceeds to make loans to eligible borrowers. SBA may also make grants under the program to Intermediaries and other qualified nonprofit entities to be used for marketing, management, and technical assistance to the program's target population.
Notes, amendments, and revision history
Amendments
[61 FR 3235, Jan. 31, 1996, as amended at 66 FR 47073, Sept. 11, 2001]
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 66 FR 47073, Sept. 11, 2001]