View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
USDA/RBS RIN: 0570-AA85 Publication ID: 2012 
Title: Business and Industry (B&I) Guaranteed Loan Program--Rewrite 
Abstract: The Business and Industry B&I Guaranteed Loan Program regulations were last rewritten in 1996. While there have been some minor modifications to the B&I Guaranteed Loan Program regulations since 1996 to implement Farm Bill provisions etc., some refinements to the regulation need to be made to enhance the program, improve efficiency, correct minor inconsistencies, clarify the regulations to make them more clear and easier to understand, and ultimately reduce delinquencies. The Agency will publish a proposed rule, obtain public comment, and publish a final rule. The Agency held several lender meetings throughout the country to see how changes to the program could benefit lenders who utilize the program and make it more attractive for them. The benefit to the Agency will be that some of the changes proposed should help to lower the subsidy rate, thereby increasing supportable loan level, which is critical to program success as the program's budget is proposed to be decreased. The purpose of the rewrite is to refine the B&I program regulations, resulting in increased lending activity, the expansion of business opportunities, and the creation of more jobs in rural areas, particularly in those areas that have historically experienced economic distress. There is no expected cost associated with implementation of the rule and no alternatives were considered. 
Agency: Department of Agriculture(USDA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 7 CFR 4287   
Legal Authority: Consolidated Farm and Rural Development Act   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Proposed Rule  03/00/2013 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Brenda Griffin
Loan Specialist, B&I Processing Division
Department of Agriculture
Rural Business-Cooperative Service
Room 6847/Stop 3224, 1400 Independence Avenue SW.,
Washington, DC 20250
Phone:202 720-6802
Fax:202 720-6003
Email: brenda.griffin@wdc.usda.gov