---
kind: "section"
citation: "13 C.F.R. § 120.716"
title: "13"
number: "120.716"
heading: "What is the minimum number of loans an Intermediary must make each Federal fiscal year?"
url: "https://uscodex.org/cfr/13/120.716"
---

# §120.716. What is the minimum number of loans an Intermediary must make each Federal fiscal year?

- (a) **Minimum loan requirement.** Intermediaries must close and fund the required number of microloans per year (October 1-September 30) as follows, except that an Intermediary entering the program will not be required to meet the minimum in that year:
  - (1) For fiscal year 2015, four microloans,
  - (2) For fiscal year 2016, six microloans,
  - (3) For fiscal year 2017, eight microloans, and
  - (4) **For fiscal years 2018 and thereafter, ten microloans per year.**
- (b) Intermediaries that do not meet the minimum loan requirement are not eligible to receive new grant funding unless they submit a corrective action plan acceptable to SBA, in its discretion. Intermediaries that have submitted acceptable corrective action plans may receive a reduced grant at SBA's discretion.

## Notes

### Amendments

[80 FR 34047, June 15, 2015]

### 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

[80 FR 34047, June 15, 2015]