1. Regulations
  2. title 13
  3. chapter I
  4. part 120
  5. subpart C
  6. subjgrp 201
  7. § 120.313

View all text of Subjgrp 201 [§ 120.310 - § 120.315]

§ 120.313 - DAL-2 use of proceeds and other program conditions.

(a) The DAL-2 loan proceeds may be used for any 7(a) loan purposes.

(b) An applicant may use DAL-2 loan proceeds to acquire an eligible small business without complying with the change of ownership conditions in § 120.202.

(c) A DAL-2 applicant must submit evidence from a physician, psychiatrist, or other qualified professional as to the permanent nature of the disability and the limitation it places on the applicant.

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: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.

CITE AS: 13 CFR 120.313