Director, Office of Financial Assistance

3245-AG98 202104 Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Programs to Reduce Unnecessary Regulatory Burden

SBA is streamlining the regulations in part 120 of chapter 13 of the Code of Federal Regulations that apply to the 7(a), Microloan, and 504 Loan Programs by eliminating or revising the provisions that are obsolete, ineffective, burdensome, or unnecessary. The changes include removing or revising regulations related to programs that are either no longer in effect or have not been funded for many years, such as the America’s Recovery Capital Loan Program, certain 7(a) direct loans to small businesses, or the veteran’s direct loan program; and clarifying the factors that SBA will consider when seeking the appointment of a receiver and the scope of the receivership with respect to Certified Development Companies, Small Business Lending Companies, and Non-Federally Regulated Lenders.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No 13 CFR 120 15 U.S.C. 636(a) 15 U.S.C. 636(m) 15 U.S.C. 695 et seq. No NPRM 12/14/2020 85 FR 80676 NPRM Comment Period End 02/12/2021 Final Action 12/00/2021 No None No No No Dianna Seaborn L. Director, Office of Financial Assistance 3245 Small Business Administration SBA 202 205-3645 dianna.seaborn@sba.gov 409 Third Street SW, Washington DC 20416