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15 U.S.C. § 642 — Requirements for loans
Federal law — U.S. Code and appendices · legal_authorities
No loan shall be made or equipment, facilities, or services furnished by the Administration under this chapter to any business enterprise unless the owners, partners, or officers of such business enterprise (1) certify to the Administration the names of any attorneys, agents, or other persons engaged by or on behalf of such business enterprise for the purpose of expediting applications made to the Administration for assistance of any sort, and the fees paid or to be paid to any such persons; (2) execute an agreement binding any such business enterprise for a period of two years after any assistance is rendered by the Administration to such business enterprise, to refrain from employing, tendering any office or employment to, or retaining for professional services, any person who, on the date such assistance or any part thereof was rendered, or within one year prior thereto, shall have served as an officer, attorney, agent, or employee of the Administration occupying a position or engaging in activities which the Administration shall have determined involve discretion with respect to the granting of assistance under this chapter; and (3) furnish the names of lending institutions to which such business enterprise has applied for loans together with dates, amounts, terms, and proof of refusal.
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Stable record: federal_law:legal_authorities:record_usc_0f18dd95e194e74468412e80
Source file: Laws/federal/codes/united-states-code/title-15/section-642-requirements-for-loans--5239bd3292.md
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Source location: Title 15, Chapter 14A, § 642; chapter-14a-aid-to-small-business.md
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No loan shall be made or equipment, facilities, or services furnished by the Administration under this chapter to any business enterprise unless the owners, partners, or officers of such business enterprise (1) certify to the Administration the names of any attorneys, agents, or other persons engaged by or on behalf of such business enterprise for the purpose of expediting applications made to the Administration for assistance of any sort, and the fees paid or to be paid to any such persons; (2) execute an agreement binding any such business enterprise for a period of two years after any assistance is rendered by the Administration to such business enterprise, to refrain from employing, tendering any office or employment to, or retaining for professional services, any person who, on the date such assistance or any part thereof was rendered, or within one year prior thereto, shall have served as an officer, attorney, agent, or employee of the Administration occupying a position or engaging in activities which the Administration shall have determined involve discretion with respect to the granting of assistance under this chapter; and (3) furnish the names of lending institutions to which such business enterprise has applied for loans together with dates, amounts, terms, and proof of refusal.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Grants, contracts and cooperative agreements for establishment of small business development centers and for small business activities and purposes; role of Administration; non-Federal additional amount; amount of grant; eligibility**
(1) The Administration is authorized to make grants (including contracts and cooperative agreements) to any State government or any agency thereof, any regional entity, any State-chartered development, credit or finance corporation, any women’s business center operating pursuant to [section 656 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section656&num=0&edition=prelim), any public or private institution of higher education, including but not limited to any land-grant college or university, any college or school of business, engineering, commerce, or agriculture, community college or junior college, or to any entity formed by two or more of the above entities (herein referred to as “applicants”) to assist in establishing small business development centers and to any such body for: small business oriented employment or natural resources development programs; studies, research, and counseling concerning the managing, financing, and operation of small business enterprises; management and technical assistance regarding small business participation in international markets, export promotion and technology transfer; delivery or distribution of such services and information; providing access to business analysts who can refer small business concerns to available experts; and, to the extent practicable, providing assistance in furtherance of the Small Business Development Center Cyber Strategy developed under section 1841(a) of the National Defense Authorization Act for Fiscal Year 2017: Provided, Tha
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 648
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Aid, counsel, assistance, etc., to small business concerns** The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation.
**(b) Assistance to compete in international markets**
(1) It is the declared policy of the Congress that the Federal Government, through the Administrator of the Small Business Administration, acting through the Associate Administrator for International Trade, and in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this chapter, to increase their ability to compete in international markets by—
(A) enhancing their abil
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 631
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Cooperation with banks and other financial institutions** Wherever practicable the operations of a small business investment company, including the generation of business, may be undertaken in cooperation with banks or other investors or lenders, incorporated or unincorporated, and any servicing or initial investigation required for loans or acquisitions of securities by the company under the provisions of this chapter may be handled through such banks or other investors or lenders on a fee basis. Any small business investment company may receive fees for services rendered to such banks and other investors and lenders.
**(b) Use of advisory services; depository or fiscal agents; investment of funds** Each small business investment company may make use, wherever practicable, of the advisory services of the Federal Reserve System and of the Department of Commerce which are available for and useful to industrial and commercial businesses, and may provide consulting and advisory services on a fee basis and have on its staff persons competent to provide such services. Any Federal Reserve bank is authorized to act as a depository or fiscal agent for any company operating under provisions of this chapter. Any such company that is licensed before October 1, 2004 and has outstanding financings is authorized to invest funds not needed for its operations—
(1) in direct obligations of, or obligations guaranteed as to principal and interest by, the United States;
(2) in certificates of deposit or other accounts of federally insured banks or other federally insured depository institutions, if the certificates or other accounts mature or are otherwise fully available not more than 1 year after the date of the investment; or
(3) in mutual funds, securities, or other instrumen
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 687
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Federal law — U.S. Code and appendices · legal_authorities
Page 972
TITLE 15—COMMERCE AND TRADE
§ 641
thereunder, and (3) upon the condition that such
official obtain the approval of the Attorney Gen-
eral to any request thereunder before making
the request.
(d) Inapplicability of section when request or
finding withdrawn
Upon withdrawal of any request or finding
hereunder, or upon withdrawal by the Attorney
General of his approval of the voluntary agree-
ment or program on which the request or finding
is based, the provisions of this section shall not
apply to any subsequent act, or omission to act,
by reason of such finding or request.
(Pub. L. 85–536, § 2[11], July 18, 1958, 72 Stat. 394.)
Editorial Notes
REFERENCES IN TEXT
The Federal Trade Commission Act, referred to in
subsec. (b), is act Sept. 26, 1914, ch. 311, 38 Stat. 717,
which is classified generally to subchapter I (§ 41 et
seq.) of chapter 2 of this title. For complete classifica-
tion of this Act to the Code, see section 58 of this title
and Tables.
PRIOR PROVISIONS
Prior similar provisions were contained in section 217
of act July 30, 1953, ch. 282, title II, 67 Stat. 239, which
was previously classified to section 646 of this title. The
provisions of section 211 of act July 30, 1953, formerly
classified to this section, were transferred to section
2[10] of Pub. L. 85–536, and are classified to section
639(d), (f) of this title. See Codification note set out
under section 631 of this title.
Executive Documents
EX. ORD. NO. 10493. DELEGATION OF FUNCTIONS
Ex. Ord. No. 10493, Oct. 14, 1953, 18 F.R. 6583, provided:
SECTION 1. The functions conferred upon the Presi-
dent by section 217 of the Small Business Act of 1953
[covered by this section] are hereby delegated to the
Administrator of the Small Business Administration
and shall be
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 642
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