CFR > Title 13 - Business Credit and Assistance > CHAPTER I—SMALL BUSINESS ADMINISTRATION > PART 108—NEW MARKETS VENTURE CAPITAL (“NMVC”) PROGRAM > SUBPART G—Managing the Operations of a NMVC Company (§108.500 to §108.585) > 108.507—Violations based on false filings and nonperformance of agreements with SBA.

108.507—Violations based on false filings and nonperformance of agreements with SBA.

The following shall constitute a violation of this part:
(a) Nonperformance. Nonperformance of any of the requirements of any Debenture or of any written agreement with SBA.
(b) False statement. In any document submitted to SBA:
(1) Any false statement knowingly made; or
(2) Any misrepresentation of a material fact; or
(3) Any failure to state a material fact. A material fact is any fact that is necessary to make a statement not misleading in light of the circumstances under which the statement was made.