On-going Subsidy Fee [SISMBD loan] Law and Legal Definition
According to 13 CFR 120.1800 [Title 13 -- Business Credit And Assistance; Chapter I -- Small Business Administration; Part 120 -- Business Loans; Subpart K -- Establishment Of An SBA Direct Loan Program For Systemically Important Secondary Market Broker-Dealers (SISMBD Loan Program)], On-going Subsidy Fee means “an annual fee collected monthly, based on the outstanding SISMBD loan balance, pursuant to section 509(F) of the Recovery Act, to result in a cost of the direct loan of zero, as determined under the Federal Credit Reform Act of 1990, as amended. These funds generated by the fee serve as a reserve for program losses. The fee will be published in a notice by SBA prior to the commencement of the Program and from time to time thereafter. SBA will communicate the SBA On-going Subsidy Fee to the systemically important broker-dealers.”
Legal Definition list
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Fee
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Adjustable Rate Mortgage Loan
- Administrative and Operating [A&O] Subsidy
- Administrative Cost of Issuing a Loan Guarantee
- Advance Fee Fraud
- Advance-Fee Talent Service
- Advertising Fee
