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SBA RIN: 3245-AG17 Publication ID: Fall 2010 
Title: ●Small Business Jobs Act: 504 Loan Program Debt Refinancing  
Abstract: The Small Business Jobs Act directs SBA to conduct a two-year program of debt refinancing in the 504 loan program. The rule sets forth the procedures for the refinancing of qualified debt and other statutory requirements. The rule also conforms the job creation and retention goals of the 504 program to the Act. 
Agency: Small Business Administration(SBA)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 13 CFR 120, subpart H     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub L 111-240, sec 1122   
Legal Deadline:
Action Source Description Date
Final  Statutory  Authority for program is repealed 2 years after date of enactment of Small Business Jobs Act of 2010.  09/27/2012 

Statement of Need: Small businesses continue to struggle to gain access to the capital that would enable them to continue to pay their employees, pay vendors or expand their operations. The Jobs Act authorizes several financing options that are designed to strengthen the capacity of these small businesses to obtain the funds they need to create jobs and stimulate economic growth. Section 1122 of the Small Business Jobs Act is one such option that SBA is required to implement as soon as practicable in order to maximize the authority which expires on September 27, 2012.

Summary of the Legal Basis: Section 5(a)(6) of the Small Business Act authorizes SBA’s Administrator to make such rules and regulations as deemed necessary to carry out any authorities vested in the Administrator.

Alternatives: SBA currently has regulations governing debt refinancing. Regulations are necessary in order to conform those existing regulations to the additional debt refinancing authority provide by the Jobs Act.

Anticipated Costs and Benefits: At this time SBA has not yet estimated the costs or benefits that may result from this rulemaking.

Risks: Not Yet Determined

Timetable:
Action Date FR Cite
Interim Final Rule  02/00/2011    
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: Yes 
RIN Data Printed in the FR: Yes 
Agency Contact:
Andrew B. McConnell Jr.
Chief, 504 Loan Program, Office of Financial Assistance
Small Business Administration
409 Third Street SW.,
Washington, DC 20416
Phone:202 205-7238
Email: andrew.mcconnell@sba.gov