- (1) "SBA" means the United States Small Business Administration.
- (2) "Short-term funds" means a sum of money that an insurer loans to an SBA borrower to fund the SBA borrower's anticipated use of SBA 504 loan proceeds where the insurer's loan is secured by a lien on real property or by any other form of collateral authorized by the commissioner.
Terms used in this rule are defined in Sections 31A-1-301 and 31A-17-601. Additional terms are defined as follows:
KEY: insurance
Date of Last Change: January 10, 2023
Notice of Continuation: April 16, 2024
Authorizing, and Implemented or Interpreted Law: 31A-18-105(16); 31A-2-201(3)