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| SBA | RIN: 3245-AF98 | Publication ID: Fall 2010 |
| Title: Disaster Assistance Loan Program | |
| Abstract: SBA is amending its disaster assistance regulations to reflect statutory changes to the disaster assistance program contained in the Food, Conservation, and Energy Act of 2008 (the Farm Act). The Farm Act amended the Small Business Act and authorized changes to make the disaster assistance program more accessible to disaster victims by raising the statutory loan limit for loans to businesses, increasing the collateral threshold, and amending the basis for calculation of eligibility for post-disaster mitigation funds. The legislation also amended the statutory definition of disaster to include ice storms and blizzards, deferred the additional payment on net earnings for certain business loans for five years, and extended the eligibility for economic injury disaster loan assistance to non-profit organizations. Finally, the legislation amended the date for determining the applicant's status as a major source of employment for Military Reserve Economic Injury Disaster Loan applicants. Except for several technical edits, this direct final rule conforms the regulations to the Farm Act by adopting the new statutory requirements without change. | |
| Agency: Small Business Administration(SBA) | Priority: Other Significant |
| RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
| Major: No | Unfunded Mandates: No |
| CFR Citation: 13 CFR 123 | |
| Legal Authority: 15 USC 636(b) | |
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Legal Deadline:
None |
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Timetable:
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| 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 | |
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Agency Contact: James E. Rivera Associate Administrator for Disaster Assistance Small Business Administration Suite 6050, 409 Third Street SW, Washington, DC 20416 Phone:202 619-0005 Fax:202 205-7728 Email: james.rivera@sba.gov |
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