15 U.S.C. § 642

Requirements for loans

Read at: OLRCuscode.house.gov CornellLII GovInfogovinfo.gov JustiaTitle 15 CasesGoogle Scholar

No loan shall be made or equipment, facilities, or services furnished by the Administration under this chapter to any business enterprise unless the owners, partners, or officers of such business enterprise (1) certify to the Administration the names of any attorneys, agents, or other persons engaged by or on behalf of such business enterprise for the purpose of expediting applications made to the Administration for assistance of any sort, and the fees paid or to be paid to any such persons; (2) execute an agreement binding any such business enterprise for a period of two years after any assistance is rendered by the Administration to such business enterprise, to refrain from employing, tendering any office or employment to, or retaining for professional services, any person who, on the date such assistance or any part thereof was rendered, or within one year prior thereto, shall have served as an officer, attorney, agent, or employee of the Administration occupying a position or engaging in activities which the Administration shall have determined involve discretion with respect to the granting of assistance under this chapter; and (3) furnish the names of lending institutions to which such business enterprise has applied for loans together with dates, amounts, terms, and proof of refusal.

Notes of Decisions

Cited in 4 cases (1 in the last 5 years), 1981–2025 · leading case: Southland Bank v. a & a Drywall Supply Co., 21 So. 3d 1196 (Ala. 2009).

Sort: Relevance Newest Treatment

Southland Bank v. a & a Drywall Supply Co., 21 So. 3d 1196 (Ala. 2009). · cites it 2× “[6] The compensation agreement recites that 15 U.S.C. § 642 "requires disclosures concerning fees.”

SGA Fin. Corp. v. United States Small Bus. Admin., 509 F. Supp. 392 (D.N.J. 1981). “15 U.S.C. § 642 . Section 2[13] also requires the applicant to furnish the names of lending institutions who have refused the loan application.”

Juan Antonio Sanchez PC v. Bank of South Texas (S.D. Tex. 2020). · cites it 4× “101 96 15 U.S.C. § 642 (1). 97 13 C.F.R. § 103.5 (a) (emphasis added).”

JLK Constr., LLC v. Premium Merch. Funding 18, LLC, Abe Burger, & Samuel A. Brugman (Bankr. W.D. Mo. 2025). · cites it 2× “Specifically, JLK argues PMF was not entitled to the commission because (1) PMF concealed JLK’s obligation to disclose the commission to the SBA under 15 U.S.C. § 642 ; and (2) 13 C.F.R. 103.5(c) prohibits Lender Service Providers from charging compensation to borrowers.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.