Allowable fees
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
(a) Lender fees. The lender is authorized to charge reasonable and necessary fees in connection with a borrower's application for a guaranteed loan.
(b) Agency fees. The Agency will charge one or more types of fees deemed appropriate as reimbursement for reasonable and necessary costs incurred in connection with applications received from lenders. Agency fees may include, but are not limited to, the following:
(1) Site assessment and market analysis or preliminary feasibility fee. A fee for review of an application for a determination of preliminary feasibility.
(2) Application fee. A fee submitted in conjunction with the application for a loan guarantee.
(3) Inspection fee. A fee for inspection of the property in conjunction with a loan guarantee.
(4) Transfer fee. A fee in connection with a request for approval of a transfer of physical assets or a change in the composition of the ownership entity.
(5) Extension or reopening fees. A fee to extend the guarantee commitment or to reopen an application when a commitment has expired.
[63 FR 39458, July 22, 1998, as amended at 84 FR 55036, Oct. 15, 2019]
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.