[Federal Register Volume 71, Number 239 (Wednesday, December 13, 2006)]
[Notices]
[Page 74982]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-21137]
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
CommunityExpress Pilot Program
AGENCY: U.S. Small Business Administration (SBA).
ACTION: Notice of Pilot Program extension.
-----------------------------------------------------------------------
SUMMARY: This notice announces SBA's extension of the CommunityExpress
Pilot Program until March 31, 2007. This extension will allow time for
the Agency to complete its analyses of this program and also complete
internal discussions regarding potential modifications and
enhancements.
DATES: The CommunityExpress Pilot Program is extended under this notice
until March 31, 2007.
FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial
Assistance, U.S. Small Business Administration, 409 Third Street, SW.,
Washington, DC 20416; Telephone (202) 205-6490; [email protected].
SUPPLEMENTARY INFORMATION: The CommunityExpress Pilot Program was
established in 1999 as a subprogram of the Agency's SBAExpress Program.
Lenders approved for participation in CommunityExpress are authorized
to use the expedited loan processing procedures in place for the
SBAExpress Program, but the loans approved under this Program must be
to distressed or underserved markets. To encourage lenders to make
these loans, SBA provides its standard 75-85 percent guaranty, which
contrasts to the 50 percent guaranty the Agency provides under
SBAExpress. However, under CommunityExpress participating lenders must
arrange, and when necessary, pay for appropriate technical assistance
for any borrowers under the program. Maximum loan amounts under this
Program are limited to $250,000. SBA previously extended
CommunityExpress until November 30, 2005 (70 FR 56962), again to May
31, 2006 (70 FR 71363), and then again to December 31, 2006 (71 FR
29703), to consider possible changes and enhancements to the Program.
The further extension of this program until March 31, 2007, will
allow the SBA to complete its analyses and internal discussions of
possible changes and enhancements to the program. It will also allow
SBA to further consult with its lending partners, the small business
community and its oversight authorities about the Program.
(Authority: 13 CFR 120.3)
Janet A. Tasker,
Acting Associate Administrator for Financial Assistance.
[FR Doc. E6-21137 Filed 12-12-06; 8:45 am]
BILLING CODE 8025-01-P