120.376—Special requirements.
The following special conditions apply (otherwise, 7(a) loan eligibility criteria apply):
(a)
The Associate Administrator for Business Development may waive the direct loan administrative ceiling of $150,000, and raise it to $750,000.
(c)
The interest rate on a guaranteed loan shall be the same as on 7(a) guaranteed business loans. The interest rate on a direct loan shall be one percent less than on a regular direct loan.
(d)
For a direct loan or SBA's portion of an immediate participation loan, SBA shall subordinate its security interest on all collateral to other debt of the applicant.