Source: https://www.law.cornell.edu/cfr/text/13/107.620
Timestamp: 2017-02-21 10:07:59
Document Index: 791822767

Matched Legal Cases: ['art 107', '§ 107', '§ 107', '§ 107', '§ 107', '§ 681', '§ 682', '§ 683', '§ 684', '§ 685', '§ 686', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§ 687', '§\u202f208', '§ 687', '§ 687', '§ 687', '§ 688', '§\u202f11']

13 CFR 107.620 - Requirements to obtain information from Portfolio Concerns. | US Law | LII / Legal Information Institute
CFR › Title 13 › Chapter I › Part 107 › Subpart F › Section 107.620 13 CFR 107.620 - Requirements to obtain information from Portfolio Concerns.
§ 107.620 Requirements to obtain information from Portfolio Concerns.
All the information required by this section is subject to the requirements of § 107.600 and must be in English. (a)Information for initial Financing decision. Before extending any Financing, you must require the applicant to submit such financial statements, plans of operation (including intended use of financing proceeds), cash flow analyses and projections as are necessary to support your investment decision. The information submitted must be consistent with the size and type of the business and the amount of the proposed Financing. (b)Updated financial information.
(1) The terms of each Financing must require the Portfolio Concern to provide, at least annually, sufficient financial information to enable you to perform the following required procedures: (i) Evaluate the financial condition of the Portfolio Concern for the purpose of valuing your investment; (ii) Determine the continued eligibility of the Portfolio Concern; and (iii) Verify the use of Financing proceeds. (2) The information submitted to you must be certified by the president, chief executive officer, treasurer, chief financial officer, general partner, or proprietor of the Portfolio Concern. (3) For financial and valuation purposes, you may accept a complete copy of the Federal income tax return filed by the Portfolio Concern (or its proprietor) in lieu of financial statements, but only if appropriate for the size and type of the business involved. (4) The requirements in this paragraph (b) do not apply when you acquire securities from an underwriter in a public offering (see § 107.825). In that case, you must keep copies of all reports furnished by the Portfolio Concern to the holders of its securities. (c)Information required for examination purposes. You must obtain any information requested by SBA's examiners for the purpose of verifying the certifications made by a Portfolio Concern under § 107.610. In this regard, your Financing documents must contain provisions requiring the Portfolio Concern to give you and/or SBA's examiners access to its books and records for such purpose. This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 15 - COMMERCE AND TRADE§ 681 - Organization§ 682 - Capital requirements§ 683 - Borrowing operations§ 684 - Equity capital for small-business concerns§ 685 - Long-term loans to small-business concerns§ 686 - Aggregate limitations on amount of assistance to any single enterprise§ 687 - Operation and regulation of companies§ 687a - Revocation and suspension of licenses; cease and desist orders§ 687b - Investigations and examinations; power to subpena and take oaths and affirmations; aid of courts; examiners; reports§ 687c - Injunctions and other orders§ 687d - Conflicts of interest§ 687e - Removal or suspension of management officials§ 687f - Unlawful acts and omissions by officers, directors, employees, or agents§ 687g - Penalties and forfeitures§ 687h - Jurisdiction and service of process§ 687i, 687j - Repealed. Pub. L. 104–208, div. D, title II, § 208(h)(1)(E), Sept. 30, 1996, 110 Stat. 3009–747§ 687k - Guaranteed obligations not eligible for purchase by Federal Financing Bank§ 687l - Issuance and guarantee of trust certificates§ 687m - Periodic issuance of guarantees and trust certificates§ 688 - Repealed. Pub. L. 87–341, § 11(e), Oct. 3, 1961, 75 Stat. 756
13 CFR 107.691 — Responsibilities of Licensee During Examination.