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SBA RIN: 3245-AF90 Publication ID: Spring 2011 
Title: American Recovery and Reinvestment Act: Secondary Market Guarantee for 504 First Mortgage Loan Pools 
Abstract: This interim final rule implements section 503 of the American Recovery and Reinvestment Act of 2009 (Recovery Act), which establishes a secondary market for the first mortgage loan that is a component of a financing made under the 504 program. The 504 program provides long-term, fixed rate financing to small businesses for expansion or modernization, primarily of real estate (including land and new building construction, existing building purchases or renovation, and machinery and equipment). Financing is delivered through Certified Development Companies (CDCs), which are private primarily nonprofit entities established pursuant to the 504 program to contribute to the economic development of their communities. The Recovery Act authorized SBA to establish a program to approve an entity to apply for SBA's guarantee of pools comprised of portions of these first mortgage loans which back certificates to be sold to investors. 
Agency: Small Business Administration(SBA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 13 CFR 120   
Legal Authority: PL 111-5, sec 503   
Legal Deadline:
Action Source Description Date
Final  Statutory  within 15 days after date of enactment of the American Recovery and Reinvestment Act  nulldate 
Timetable:
Action Date FR Cite
Interim Final Rule  10/30/2009  74 FR 56087   
Interim Final Rule Comment Period End  01/28/2010    
Final Action  01/00/2012    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Ingrid Ripley
Financial Analyst, Office of Financial Assistance
Small Business Administration
409 Third Street SW.,
Washington, DC 20614
Phone:202 205-7538
Email: ingrid.ripley@sba.gov