13 CFR § 108.1720 - Characteristics of SBA's guarantee.

---
identifier: "/us/cfr/t13/s108.1720"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 108.1720 - Characteristics of SBA's guarantee."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "108.1720"
section_name: "Characteristics of SBA's guarantee."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "108"
part_name: "NEW MARKETS VENTURE CAPITAL (“NMVC”) PROGRAM"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 689-689q."
regulatory_source: "66 FR 28609, May 23, 2001, unless otherwise noted."
cfr_part: "108"
---


# 108.1720 Characteristics of SBA's guarantee.

If SBA agrees to guarantee a NMVC Company's Debentures, such guarantee will be unconditional, irrespective of the validity, regularity or enforceability of the Debentures or any other circumstances that might constitute a legal or equitable discharge or defense of a guarantor. Pursuant to its guarantee, SBA will make timely payments of principal and interest on the Debentures.