New Delhi, Apr. 9 (ANI): Prime Minister Narendra Modi, in a letter to small business persons throughout the nation, hailed the impact that they have had on India’s financial system, terming them the backbone of the nation. SEC. 503. INSTITUTION OF SBA SECONDARY MARKET GUARANTEE AUTHORITY. (a) FUNCTION- The purpose of this section is to offer the Administrator with the authority to determine the SBA Secondary Market Guarantee Authority throughout the SBA to provide a Federal assure for pools of first lien 504 loans which might be to be bought to third-get together traders. (b) DEFINITIONS- For purposes of this section: (1) The time period `Administrator’ means the Administrator of the Small Enterprise Administration. (2) The time period `first lien position 504 mortgage’ means the primary mortgage position, non-federally guaranteed loans made by private sector lenders made under title V of the Small Enterprise Funding Act.
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