For Standard 7(a) loans the Lender takes security interests in all available fixed assets up to the loan amount under the fully secured test (new and used machinery and equipment, improved and unimproved real estate, and furniture and fixtures counted at the SOP's discounted values; trading assets at the Lender's discretion and counted only at a small percentage), and where there is a shortfall takes available equity in personal real estate of 20%-or-more owners and guarantors, considering jointly owned property with spouses and minor children and property transferred to them within 6 months. It takes a first lien on assets acquired, refinanced or improved with proceeds, accepting a subordinate position for improvements only where existing debt is ineligible for refinancing or already on reasonable terms, documented. Smaller 7(a) Small and SBA Express loans need no collateral below the SOP threshold; larger 7(a) Small loans need a first lien on financed assets and, where half or more of proceeds is working capital, liens on all fixed assets up to fully secured; SBA Express above the threshold may follow the Lender's own non-SBA collateral policy. MARC requires an all-asset UCC lien and a first lien on trading assets; CAPLines, Export Express, EWCP and International Trade loans follow their program-specific lien, margin and appraisal rules (for IT loans a statutory first lien on financed or other assets).
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.