Director, Office of Financial Assistance

3245-AI03 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Program Changes for Justice Impacted Individuals

SBA will publish a notice of proposed rulemaking in order to receive comments from the public and the lending industry regarding a proposal to amend the rule regarding the ineligibility of an Applicant where an associate has a criminal record. SBA will propose these changes in alignment with EO 14074 on Advancing Effective, Accountable Policing and Criminal Justice Practices to Enhance Public Trust and Public Safety. SBA envisions that the changes to the proposed rule will increase access to capital for justice impacted individuals, while providing a reasonable balance for oversight of taxpayer dollars through appropriate controls and processes to mitigate potential fraud, waste and abuse. The proposed rule will apply to the 7(a), 504, Microloan, Intermediary Lending Pilot and Disaster loan programs, and the Surety Bond program.

]]> Other Significant First Time Published in The Unified Agenda Proposed Rule Stage Yes No 13 CFR 109 13 CFR 115 13 CFR 120 13 CFR 123 15 USC 632 7(a) No NPRM 08/00/2023 No Businesses Organizations None No 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