---
kind: "section"
citation: "15 U.S.C. § 642"
title: "15"
title_heading: "Commerce and Trade"
number: "642"
heading: "Requirements for loans"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/642"
units:
  - "Chapter 14A — Aid to Small Business"
---

# §642. Requirements for loans


No loan shall be made or equipment, facilities, or services furnished by the [Administration](/usc/15/636e.md?p=1) under this chapter to any business enterprise unless the owners, partners, or officers of such business enterprise (1) certify to the [Administration](/usc/15/636e.md?p=1) the names of any attorneys, agents, or other [persons](/usc/15/7a.md?p=6) engaged by or on behalf of such business enterprise for the purpose of expediting applications made to the [Administration](/usc/15/636e.md?p=1) for assistance of any sort, and the fees paid or to be paid to any such [persons](/usc/15/7a.md?p=6); (2) execute an [agreement](/usc/15/7a.md?p=2) binding any such business enterprise for a period of two years after any assistance is rendered by the [Administration](/usc/15/636e.md?p=1) to such business enterprise, to refrain from employing, tendering any office or employment to, or retaining for professional services, any [person](/usc/15/7a.md?p=6) who, on the date such assistance or any part thereof was rendered, or within one year prior thereto, shall have served as an officer, attorney, agent, or employee of the [Administration](/usc/15/636e.md?p=1) occupying a position or engaging in activities which the [Administration](/usc/15/636e.md?p=1) shall have determined involve discretion with respect to the granting of assistance under this chapter; and (3) furnish the names of lending institutions to which such business enterprise has applied for loans together with dates, amounts, terms, and proof of refusal.


## Source credit

(Pub. L. 85–536, § 2[13], July 18, 1958, 72 Stat. 394.)

## Notes

### Editorial Notes

### Prior Provisions

Prior similar provisions were contained in section 219 of act July 30, 1953, ch. 282, title II, 67 Stat. 239, which was previously classified to section 648 of this title. The provisions of section 213 of act July 30, 1953, formerly classified to this section, were transferred to section 2[8] of Pub. L. 85–536, and are classified to section 637(b)(6), (7) of this title. See Codification note set out under section 631 of this title.