SBA SOP 50 10 8, A.Ch3.B.2 — Refinancing a debt owed to a Small Business Investment Company (SBIC) or a New
Verbatim text of SBA SOP 50 10 8 section A.Ch3.B.2 (Refinancing a debt owed to a Small Business Investment Company (SBIC) or a New), effective 2025-06-01. 2 provision(s) quoted from the SOP PDF. SBA's own document page serves superseded editions, and the SOP is further amended by policy notices — read this with the notices that touch it.
Verbatim regulatory text
Verbatim provisions from SBA SOP 50 10 8, A.Ch3.B.2 — Refinancing a debt owed to a Small Business Investment Company (SBIC) or a New — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
SOP 50 10 8 A.Ch3.B.2
2. Refinancing a debt owed to a Small Business Investment Company (SBIC) or a New Markets Venture Capital Company (NMVCC); 3. Floor plan financing; 4. Revolving lines of credit, except under Export Working Capital Program (EWCP), CAPLines, SBA Express, and Export Express programs; 5. Investments in real or personal property acquired and held primarily for sale, lease, or investment (except for a loan to an Eligible Passive Company or to a small contractor under the Builders CAPLine program);
SOP 50 10 8 A.Ch3.B.6
6. Payment of Delinquent Taxes; or Loan proceeds must not be used to pay past-due Federal, state, or local payroll taxes, sales taxes, or similar taxes that are required to be collected by the Applicant and held in trust on behalf of a Federal, state, or local government entity. Payment of delinquent business income taxes may be permitted if the Applicant has an approved payment arrangement with the IRS and the Applicant is current on the payments in the arrangement. 7. 13 CFR § 120.881 For the 504 Loan Program only: To finance the relocation of the Applicant out of a community, if there will be a net reduction of one-third or more in the Applicant’s workforce or a substantial increase in unemployment in any area of the country. An exception may be allowed if the CDC can justify the relocation because: The relocation is for key economic reasons and crucial to the continued existence, economic wellbeing, and/or competitiveness of the Applicant; and The economic development benefits to the Applicant and the receiving community outweigh the negative impact on the community from which the Applicant is moving. Section A, Ch. 3: Uses of Proceeds 8. To pay any creditor in a position to sustain a loss causing a shift to SBA of all or part of a potential loss from an existing debt 13 CFR § 120.201 and 13 CFR § 120.884(b). 9. A purpose that does not benefit the small business, including a loan to an Applicant for the benefit of an affiliated business; 10. Any use restricted by 13 CFR §§ 120.201 and 120.884 (specific to 7(a) loans and 504 loans respectively); and 11. When a Borrower is an exporter engaging in export transactions (including indirect exports) or when the Borrower has or will have foreign accounts receivable, the SBA Lender must determine if U.S. companies are authorized to conduct business with the Parties and the country(ies) to which the goods or services will be shipped. SBA Lenders must check Ex-Im Bank’s Country Limitation Schedule, which can be found on Ex-Im Bank’s website at www.exim.gov/tools-for-exporters/country-limitation-schedule. The SBA Lender also must check the Department of Treasury Office of Foreign Assets Control (OFAC) sanctions lists, which can be found at sanctionssearch.ofac.treas.gov/. A 7(a) or 504 loan may not be made to a business that directly or indirectly exports to a foreign country which is listed as a prohibited country (Note # 7 on the Country Limitation Schedule), or if the transaction would be prohibited under any of the sanctions programs administered by OFAC. C. OCCUPANCY AND LEASING REQUIREMENTS
Operationalizing SBA SOP 50 10 8, A.Ch3.B.2 — Refinancing a debt owed to a Small Business Investment Company (SBIC) or a New
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.
Source of record: https://claudeforcompliance.com/regs/sba-sop-a-ch3-b-2/
· register sba-sop-a-ch3-b-2 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.