DATE: September 11, 2001

SUBJECT: Small Business Administration; Microloan Program

SOURCE: Federal Register, September 11, 2001, Vol. 66, No. 176, page 47072

AGENCIES: Small Business Administration (SBA)

ACTION: Final Rule

SYNOPSIS: In accordance with changes required by law, SBA is revising its microloan program regulations to terminate the designation of the program as a "demonstration," allow a nonprofit child care business to qualify for the microloan program, and authorize a microloan intermediary to use up to 25% of grant funds for technical assistance to prospective microloan borrowers. This final rule also establishes procedures for SBA to revoke or suspend a microloan intermediary or non-lending technical assistance provider (NTAP).

EDITOR'S NOTE: The SBA's microloan program regulations are in Title 13 of the Code of Federal Regulations (CFR), "Chapter 1, Small Business Administration," "Part 120, Business Loans," as "Subpart G, Microloan Program."

EFFECTIVE DATE: October 11, 2001.

FOR FURTHER INFORMATION CONTACT: Jody Raskind, Chief, Microenterprise Development Branch, Office of Financial Assistance, Office of Capital Access, 202-205-6497.

SUPPLEMENTAL INFORMATION: In 1997, the Small Business Reauthorization Act of 1997 (Public Law 105-135) amended SBA's microloan program. To comply with the 1997 act, the SBA is making the following changes to its microloan program regulations:

In addition to the changes in Part 120 is the following change to Part 134:

FOR FURTHER INFORMATION CONTACT: Panoptic Enterprises at 703-451-5953 or by e-mail to Panoptic@FedGovContracts.com.

Copyright 2001 by Panoptic Enterprises. All Rights Reserved.

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