13 CFR § 120.611 - Pools backing Pool Certificates.
---identifier: "/us/cfr/t13/s120.611"source: "ecfr"legal_status: "authoritative_unofficial"title: "13 CFR § 120.611 - Pools backing Pool Certificates."title_number: 13title_name: "Business Credit and Assistance"section_number: "120.611"section_name: "Pools backing Pool Certificates."chapter_name: "SMALL BUSINESS ADMINISTRATION"part_number: "120"part_name: "BUSINESS LOANS"positive_law: falsecurrency: "2026-04-05"last_updated: "2026-04-05"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/s120.611
Currency
2026-04-05
Positive Law
No
Updated
2026-04-05
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.
# 120.611 Pools backing Pool Certificates.(a) *Pool characteristics.* As set forth in the Program Guide, each Pool must have:(1) A minimum number of guaranteed portions of loans;(2) A minimum aggregate principal balance of the guaranteed portions;(3) A maximum percentage of the Pool which an individual guaranteed portion may constitute;(4) A maximum allowable difference between the highest and lowest note interest rates;(5) A maximum allowable difference between the remaining terms to maturity of the loans in the Pool;(6) A minimum weighted average maturity at Pool formation; and(7) A maximum allowable difference between the highest and lowest Net Rate on the guaranteed portions that are placed in a WAC Pool.(b) *Adjustment of Pool characteristics.* SBA may adjust the Pool characteristics periodically based upon program experience and market conditions.(c) *Increments of guaranteed portion.* If the amount of the guaranteed portion of an individual 7(a) guaranteed loan is more than $500,000, a Pool Assembler may elect to divide the guaranteed portion into increments of $500,000 and one increment of any remaining amount less than $500,000, in order to permit the maximum amount of any guaranteed portion in a Pool to be not more than $500,000. Only one increment from a loan to a specific borrower may be included in a Pool.[61 FR 3235, Jan. 31, 1996, as amended at 73 FR 67102, Nov. 13, 2008; 76 FR 63546, Oct. 12, 2011]