[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