Section 120.612 - Loans eligible to back Certificates(a) Pool Certificates are backed by the SBA guaranteed portions of loans comprising the Pool. An Individual Certificate is backed by the SBA guaranteed portion of a single loan. Any such loan must:(1) Be current as of the date the Pool is formed or the individual guaranteed portion of a loan is initially sold in the Secondary Market;(2) Be guaranteed under the Act; and(3) Meet such other standards as SBA may determine to be necessary for the successful operation of the Secondary Market program.(b) The loans that back a Pool must meet the SBA requirements in effect at the time the Pool is formed.