13 CFR § 120.1718 - SBA's right to assume Seller's responsibilities.
---identifier: "/us/cfr/t13/s120.1718"source: "ecfr"legal_status: "authoritative_unofficial"title: "13 CFR § 120.1718 - SBA's right to assume Seller's responsibilities."title_number: 13title_name: "Business Credit and Assistance"section_number: "120.1718"section_name: "SBA's right to assume Seller's responsibilities."chapter_name: "SMALL BUSINESS ADMINISTRATION"part_number: "120"part_name: "BUSINESS LOANS"positive_law: falsecurrency: "2026-03-24"last_updated: "2026-03-24"format_version: "1.1.0"generator: "[email protected]"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."regulatory_source: "61 FR 3235, Jan. 31, 1996, unless otherwise noted."cfr_part: "120"---
Identifier
/us/cfr/t13/s120.1718
Currency
2026-03-24
Positive Law
No
Updated
2026-03-24
Chapter
Small Business Administration
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, 1... 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.
# 120.1718 SBA's right to assume Seller's responsibilities.SBA may, in its sole discretion, undertake the servicing, liquidation and/or litigation of Seller's Pool Loan at any time and, in such event, Seller must take any steps necessary to facilitate the assumption by SBA of such responsibilities, which can be transferred by SBA at its discretion to a contractor, agent or other entity, and such steps shall include, among other things, providing or assigning to SBA any documents requested by SBA within 15 calendar days of Seller's receipt of such request. SBA will notify the Obligor of the change in servicing.