Section 120.376 - Special requirementsThe following special conditions apply (otherwise, 7(a) loan eligibility criteria apply):
(a) The Associate Administrator for Business Development may waive the direct loan administrative ceiling of $150,000, and raise it to $750,000.(b) The SBA portion of a guaranteed loan must not exceed $750,000.(c) The interest rate on a guaranteed loan shall be the same as on 7(a) guaranteed business loans. The interest rate on a direct loan shall be one percent less than on a regular direct loan.(d) For a direct loan or SBA's portion of an immediate participation loan, SBA shall subordinate its security interest on all collateral to other debt of the applicant.61 FR 3235, Jan. 31, 1996, as amended at 74 FR 45753, Sept. 4, 2009