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SBA

RIN: 3245-AF78

Publication ID: Fall 2008

Title: ●Military Reserve Economic Injury Disaster Loan Revisions
Abstract: The Military Reserve Economic Injury Disaster Loan (MREIDL) program provides working capital loans to small businesses in which an owner or essential employee who is a member of the military reserve or National Guard has been called to active duty. Title II of the Military Reservist and Veteran Small Business Reauthorization and Opportunity Act of 2008 contains provisions to make the program more readily available to business owners before and after the reservist's period of active military service. This rule will provide the following: An extension of the filing period from 90 days to 1 year after the reservist returns from active duty; a "pre-consideration" process under which an MREIDL application may be filed and processed before the reservist receives formal call-up orders; an increase in the threshold at which collateral may be required, from $5,000 to $50,000; and a requirement that MREIDL applications be given processing priority over other disaster loan applications.
Agency: Small Business Administration(SBA)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 13 CFR 123
Legal Authority: PL 110-186

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Direct Final Rule	09/23/2008	73 FR 54673

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
Public Comment URL: http://www.regulations.gov
RIN Data Printed in the FR: No
Agency Contact: Roger B. Garland Director, Program, Policy, and Evaluation, Office of Disaster Assistance Small Business Administration 409 3rd Street SW, Washington, DC 20416 Phone:202 205-6734 Email: roger.garland@sba.gov