---
kind: "section"
citation: "13 C.F.R. § 120.846"
title: "13"
number: "120.846"
heading: "Requirements for maintaining and renewing PCLP status."
url: "https://uscodex.org/cfr/13/120.846"
---

# §120.846. Requirements for maintaining and renewing PCLP status.

- (a) To maintain its status as a PCLP CDC, a CDC must continue to:
  - (1) Meet the PCLP eligibility requirements in [§ 120.845](/cfr/13/120.845.md).
  - (2) Timely conform with all requirements and deadlines set forth in SBA's regulations and policy and procedural guidance concerning properly establishing, funding and reporting a PCLP Loan Loss Reserve Fund (LLRF).
  - (3) **Substantially comply with all Loan Program Requirements.**
  - (4) **Remain an active CDC.**
  - (5) In accordance with statutory requirements set forth in [section 508(i)](/cfr/13/508.md?p=i) of Title V, [15 U.S.C. 697e(i)](/usc/15/697e.md?p=i), establish a goal of processing at least 50 percent of its 504 loans using PCLP procedures.
- (b) SBA will notify the PCLP CDC in writing of a renewal or non-renewal of PCLP status. If PCLP status is not renewed, SBA will notify the CDC of the reasons for the decision.

## Notes

### Amendments

[68 FR 57983, Oct. 7, 2003, as amended at 72 FR 18364, Apr. 12, 2007]

### 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

[68 FR 57983, Oct. 7, 2003, as amended at 72 FR 18364, Apr. 12, 2007]