[Federal Register Volume 76, Number 64 (Monday, April 4, 2011)]
[Rules and Regulations]
[Pages 18375-18376]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-7862]
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SMALL BUSINESS ADMINISTRATION
13 CFR Part 120
Small Business Jobs Act: Eligible Loans for 504 Loan Program Debt
Refinancing
AGENCY: U.S. Small Business Administration.
ACTION: Announcement of loan eligibility.
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SUMMARY: The SBA is issuing this document to allow loans with any
maturity date to be eligible for debt refinancing under the Small
Business Jobs Act.
DATES: Effective Date: This document is effective April 4, 2011.
FOR FURTHER INFORMATION CONTACT: Andrew B. McConnell, Jr., Office of
Financial Assistance, U.S. Small Business Administration, 409 Third
Street, SW., Washington, DC 20416; Telephone (202) 205-7238; e-mail:
[email protected].
SUPPLEMENTARY INFORMATION: Under the temporary 504 debt refinancing
program authorized by the Small Business Jobs Act (Jobs Act), Public
Law 111-240, 124 Stat. 2504, only loans that will mature on or before
December 31, 2012, are eligible for this temporary program, unless SBA
publishes a Notice in the Federal Register extending such date based on
its assessment of available resources and market conditions. See 13 CFR
120.882(g)(3). SBA established this initial maturity date in order to
ensure that those small businesses most in need would have access to
the limited resources available in this temporary program. Based on a
review of program demand, SBA has determined that it currently has the
resources available to accept applications for the refinancing of loans
with any maturity date. Effective immediately, such loans will now be
eligible for this temporary debt refinancing program if they also meet
the other statutory and regulatory requirements.
[[Page 18376]]
Authority: 13 CFR part 120.
Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. 2011-7862 Filed 4-1-11; 8:45 am]
BILLING CODE 8025-01-P