Fin. Code, § 32600 · Chapter 5. Loan Operations
Fin. Code, § 32600
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The finance officer shall not execute any loan that is not:
(1) Approved for guarantee by the Small Business Administration, under that agency’s prevailing standards for loans of similar type, purpose, amount, and duration that are in effect at the time the guarantee is approved by the agency.
(2) Approved for guarantee by another governmental loan guarantee authority, and the minimum amount of the guarantee is not less than 50 percent of the principal amount of the loan.
(3) Made pursuant to the corporation’s participation with the Small Business Administration as a small business investment company or local development company.
(4) Less than 16 percent of the total financing package arranged between the corporation and another lender or lenders on behalf of the applicant.
(b) This section does not apply to loans made pursuant to Section 32724.
Notes and commentary — not statutory text
History
Amended by Stats. 1994, Ch. 929, Sec. 1. Effective January 1, 1995.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=32600.
- Text hash
- sha256 90df6669dd39ac07e596a19f435451a555a19b0760ba5c2b58ada9f27ec2b7e7
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Financial Code
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