[Federal Register Volume 76, Number 76 (Wednesday, April 20, 2011)]
[Notices]
[Page 22078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-9480]
[[Page 22078]]
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DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service
Maximum Loan Amount Available for B&I Guaranteed Loans in Fiscal
Year 2011
AGENCY: Rural Business-Cooperative Service, USDA.
ACTION: Notice.
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SUMMARY: 7 CFR 4279.119(a)(1) allows the Rural Development
Administrator, at the Administrator's discretion, to grant an exception
to the $10 million limit for Business and Industry (B&I) guaranteed
loans of $25 million or less under certain circumstances. Due to the
limited program funds that will be available for Fiscal Year 2011 for
the B&I Guaranteed Loan Program, the Administrator has decided not to
grant exceptions to the $10 million limit during FY 2011 in an effort
to make guaranteed loan funds go farther and to provide financing
assistance to as many projects as possible. Limiting guaranteed loans
to $10 million or less will allow the Agency to guarantee more loans
and target smaller loans/projects impacting more small businesses and
will assist the Agency to conserve scarce funding dollars at a time
when there is unprecedented interest in the program. Any applications
or pre-applications that have been received as of the date of
publication of this notice will be given full consideration.
DATES: Effective Date: April 20, 2011.
FOR FURTHER INFORMATION CONTACT: Brenda Griffin, e-mail
[email protected], Rural Development, Business Programs,
Business and Industry Division, STOP 3224, 1400 Independence Avenue,
SW., Washington, DC 20250-3224, telephone (202) 720-6802.
SUPPLEMENTARY INFORMATION: This action has been reviewed and determined
not to be a rule or regulation as defined in Executive Order 12866 as
amended by Executive Order 13258.
Dated: March 28, 2011.
Judith A. Canales,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2011-9480 Filed 4-19-11; 8:45 am]
BILLING CODE 3410-XY-P