Debenture Refinancing Policy Letter
… and maximum leverage. Policy guidance U.S. SMALL BUSINESS ADMINISTRATION WASHINGTON, D.C. 20416 DATE : July … and maximum leverage. 2. "Refinancing Leverage" . A licensee is not permitted to use the proceeds of any of its … debentures. As set forth in 13 CFR §107.1230(d)(4), a licensee may use debenture proceeds only to fund one or …