(a) General. SBA may conduct off-site reviews and monitoring of ILP Intermediaries, including ILP Intermediaries' self-assessments. SBA may also perform on-site reviews of ILP Intermediaries as needed, as determined by SBA in its discretion.
(b) Corrective actions. SBA may require an ILP Intermediary to take corrective actions to address findings from on-site or off-site reviews. Failure to take required corrective actions may constitute an event of default, as described in Sec. 109.520(c).
(c) Confidentiality of reports. On-site and off-site review reports and other SBA prepared review related documents are subject to the confidentiality requirements of Sec. 120.1060.