Friday, October 02, 2015
SBA Proposes Changes to Affiliation Rule for Business Loan and Surety Bond Guarantee Programs
The U.S. Small Business Administration (SBA) is proposing revisions to its regulations for determining affiliation under SBA’s business loan programs and its surety bond guarantee program. These revisions are designed to simplify eligibility determinations and reduce costs and processing time.
The proposed revisions were published October 2, 2015 in the Federal Register. The comment period will be open until December 1, 2015. SBA seeks comments from the public on the proposed rule and will consider these comments in its development of a final rule.
The proposed rule would apply to affiliation rules for SBA’s business loan programs and the surety bond guarantee program, but would not apply to SBA government contracting, business development, or grant programs. The affected programs would include: the 7(a) Loan Program, the Business Disaster Loan Programs (collectively, the Economic Injury Disaster Loans, Reservist Injury Disaster Loans, Physical Disaster Business Loans, Immediate Disaster Assistance Program loans), the Microloan Program, the Development Company Program (the “504 Loan Program”) and the Surety Bond Guarantee Program (the “SBG Program”).
For questions concerning the proposed revisions, please call Linda Reilly, Chief, 504 Loan Program at 202-205-9949 or e-mail her at firstname.lastname@example.org.
Read the full text of the proposed rule as published in the Federal Register here: