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On February 19, 2025, President Trump issued Executive Order 14219, "Ensuring Lawful Governance and Implementing the President's 'Department of Government Efficiency' Deregulatory Initiative," directing federal agencies to review all regulations subject to their jurisdiction for consistency with law and Administration policy and rescind those that are unlawful or undermine the national interest. In response to this directive, SBA has completed a page-by-page, line-by-line review of all of its existing regulations to determine which might be revised or eliminated. This proposed rule would amend SBA’s regulations governing its Program for Investment in Microentrepreneurs (PRIME), which was authorized to be established by 15 U.S.C. 6901-6910. It is designed to streamline the PRIME program operations by simplifying and clarifying existing regulatory language and by eliminating unnecessary, irrelevant, or obsolete provisions. SBA examined the purpose of each section of the existing regulation in developing this proposal. Where appropriate, it eliminated, consolidated, or rewrote sections for ease of use and clarity.