Sba Form 1244 - U.s. Small Business Administration Application For Section 504 Loans Page 9
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13Debt Collection Act of 1982 Deficit Reduction Act of 1984 (31 U.S.C. 3701 et seq. and other titles)
These laws require SBA to aggressively collect any loan payments which become delinquent. SBA must obtain your taxpayer identification
number when you apply for a loan. If you receive a loan, and do not make payments as they come due, SBA may take one or more of the
following actions:
- Report the status of your loan(s) to credit bureaus
- Hire a collection agency to collect your loan
- Offset your income tax refund or other amounts due to you from the Federal Government
- Suspend or debar you or your company from doing business with the Federal Government
- Refer your loan to the Department of Justice or other attorneys for litigation
- Foreclose on collateral or take other action permitted in the loan instruments
Flood Disaster Protection Act (42 U.S.C. 4011)
Regulations have been issued by the Federal Insurance Administration (FIA) and by SBA implementing this Act and its amendments. These
regulations prohibit SBA from making certain loans in an FIA designated floodplain unless Federal flood insurance is purchased as a
condition of the loan. Failure to maintain the required level of flood insurance makes the applicant ineligible for any future financial
assistance from SBA under any program, including disaster assistance.
Executive Orders -- Floodplain Management and Wetland Protection (42 F.R. 26951 and 42 F.R. 26961)
The SBA discourages any settlement in or development of a floodplain or a wetland. This statement is to notify all SBA loan applicants that
such actions are hazardous to both life and property and should be avoided. The additional cost of flood preventive construction must be
considered in addition to the possible loss of all assets and investments in future floods.
Occupational Safety and Health Act (15 U.S.C. 651 et seq.)
This legislation authorizes the Occupational Safety and Health Administration in the Department of Labor to require businesses to modify
facilities and procedures to protect employees or pay penalty fees. In some instances, the business can be forced to cease operations or be
prevented from starting operations in a new facility. Therefore, in some instances SBA may require additional information from an applicant
to determine whether the business will be in compliance with OSHA regulations and allowed to operate its facility after the loan is approved
and disbursed. Signing this form as borrower is a certification that the OSA requirements that apply to the borrower's business have been
determined and the borrower to the best of its knowledge is in compliance.
Civil Rights Legislation
All businesses receiving SBA financial assistance must agree not to discriminate in any business practice, including employment practices
and services to the public, on the basis of categories cited in 13 C.F.R., Parts 112, 113, and 117 of SBA Regulations. This includes making
their goods and services available to handicapped clients or customers. All business borrowers will be required to display the "Equal
Employment Opportunity Poster" prescribed by SBA.
Equal Credit Opportunity Act (15 U.S.C. 1691)
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color,
religion, national origin, sex, marital status or age (provided that the applicant has the capacity to enter into a binding contract); because all or
part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right
under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the
Federal Trade Commission, Equal Credit Opportunity, Washington, D.C. 20580.
Executive Order 11738 -- Environmental Protection (38 C.F.R. 25161)
The Executive Order charges SBA with administering its loan programs in a manner that will result in effective enforcement of the Clean Air
Act, the Federal Water Pollution Act and other environmental protection legislation. SBA must, therefore, impose conditions on some loans.
By acknowledging receipt of this form and presenting the application, the principals of all small businesses borrowing $100,000 or more in
direct funds stipulate to the following:
1.
That any facility used, or to be used, by the subject firm is not cited on the EPA list of Violating Facilities.
2.
That subject firm will comply with all the requirements of Section 114 of the Clean Air Act (42 U.S.C. 7414) and Section 308 of the
Water Act (33 U.S.C 1318) relating to inspection, monitoring, entry, reports and information, as well as all other requirements specified
in Section 114 and Section 308 of the respective Acts, and all regulations and guidelines issued thereunder.
3.
That subject firm will notify SBA of the receipt of any communication from the Director of the Environmental Protection Agency
indicating that a facility utilized, or to be utilized, by subject firm is under consideration to be listed on the EPA List of Violating
Facilities.
SBA Form 1244 (09-16) Previous editions obsolete
Page 9 of 13
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