DATE: November 14, 2001

SUBJECT: Small Business Administration; Business Loans and Development Company Loans

SOURCE: Federal Register, November 14, 2001, Vol. 66, No. 220, page 56985

AGENCIES: Small Business Administration (SBA)

ACTION: Direct Final Rule

SYNOPSIS: SBA is amending its business loan regulations to implement provisions of the Small Business Reauthorization Act of 2000 (Public Law 106-554) concerning loan guaranty and loan amounts, minimum guaranteed dollar amount of 7(a) loans, percentages of financing which can be guaranteed by SBA, guarantee fees paid by lenders, real estate occupancy rules, and borrower prepayment penalties.

EDITOR'S NOTE: The regulations being revised by this direct final rule are in Title 13 of the Code of Federal Regulations (CFR), "Chapter 1, Small Business Administration," "Part 120, Business Loans."

This rule is being published as a "direct final rule," which SBA reserves for rules it believes are noncontroversial. SBA believes this rule is noncontroversial because it is merely implements provisions of Public Law 106-554 and, therefore, will elicit no significant adverse comment. However, if SBA receives any adverse comments, it will withdraw the rule, consider the comments, then possibly publish a proposed rule in a future edition of the Federal Register.

DATES: The direct final rule is effective December 31, 2001, without further notice, unless adverse comment is received by December 14, 2001. If adverse comment is received, SBA will withdraw the rule.

ADDRESSES: Send comments to LeAnn Oliver, Deputy Associate Administrator for Financial Assistance, Office of Financial Assistance, Small Business Administration, 409 Third Street, SW, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: James W. Hammersley, Director, Office of Loan Programs, Office of Financial Assistance, 202-205-6490.

SUPPLEMENTAL INFORMATION: Public Law 106-554 went into effect December 21, 2000. SBA is amending its business loan regulations to implement various provisions of Public Law 106-554 as follows:

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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