Policy.
13 C.F.R. § 120.320
in effectEffective: 2024-07-01Section 7(a)(11) of the Act authorizes SBA to guarantee or make direct loans to establish, preserve or strengthen small business concerns:
(a) Located in an area having high unemployment according to the Department of Labor;
(b) Located in an area in which a high percentage of individuals have a low income inadequate to satisfy basic family needs; and
(c) More than 50 percent owned by low income individuals.
Source: eCFRURL: https://www.ecfr.gov/api/versioner/v1/full/2024-07-01/title-13.xmlFetched: 7/26/2026