Prudent Lending Practices [Business Credit and Assistance] Law and Legal Definition
According to 13 CFR 307.8 [Title 13 -- Business Credit and Assistance; Chapter III -- Economic Development Administration, Department of Commerce; Part 307 -- Economic Adjustment Assistance Investments; Subpart B -- Special Requirements for Revolving Loan Funds and Use of Grant Funds], Prudent Lending Practices means “generally accepted underwriting and lending practices for public loan programs, based on sound judgment to protect Federal and lender interests. Prudent Lending Practices include loan processing, documentation, loan approval, collections, servicing, administrative procedures, collateral protection and recovery actions. Prudent Lending Practices provide for compliance with local laws and filing requirements to perfect and maintain a security interest in RLF collateral.”
Legal Definition list
- Prudent Lending Practices [Business Credit and Assistance]
- Prudent Investor Rule (Guardianship)
- PRUCOL
- Proxy Voting
- Proxy Statements
- Prudent Man Rule
- Prudent Person Rule
- Prudential Regulator [Banks & Banking]
- Prudhoe Bay Unit of Alaska
- Pseudo Automatic Number Identification (Pseudo-ANI)
- Pseudo Mark
Related Legal Terms
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- 3-A Sanitary Standards and Accepted Practice
- 3-Way Incandescent Lamp
- 480th Intelligence, Surveillance and Reconnaissance Wing
- 70th Intelligence, Surveillance and Reconnaissance Wing
- Abandon
- Abandon [Shipping]
- Abandoned Infant
- Abandoned Mark
- Abandoned Mined Lands
