13 Cfr 123.12

13 CFR 123.12 (up to date as of 6/25/2025)
Are books and records required?

13 CFR 123.12 (June 25, 2025)

This content is from the eCFR and is authoritative but unofficial.

Title 13 —Business Credit and Assistance
Chapter I —Small Business Administration
Part 123 —Disaster Loan Program
Subpart A —Overview
Authority: 15 U.S.C. 632, 634(b)(6), 636(b), 636(d), 657n, and 9009.
Source: 61 FR 3304, Jan. 31, 1996, unless otherwise noted.

§ 123.12 Are books and records required?
You must retain complete records of all transactions financed with your SBA loan proceeds, including copies of all
contracts and receipts, for a period of 3 years after you receive your final disbursement of loan proceeds. If you
have a physical disaster business or economic injury loan, you must also maintain current and accurate books of
account, including financial and operating statements, insurance policies, and tax returns. You must retain
applicable books and records for 3 years after your loan matures including any extensions, or from the date when
your loan is paid in full, whichever occurs first. You must make available to SBA or other authorized government
personnel upon request all such books and records for inspection, audit, and reproduction during normal business
hours and you must also permit SBA and any participating financial institution to inspect and appraise your assets.
(OMB Approval No. 3245-0110.)

13 CFR 123.12 (enhanced display)

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