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USDA/RBS RIN: 0570-AB07 Publication ID: Spring 2020 
Title: ●B&I CARES Act Guaranteed Loan Program 
Abstract:

USDA's Rural Business Cooperative Service (RBCS) received funding and authority through Division B, Title I of the CARES Act to provide for additional funds for use under the Business & Industry (B&I) Guaranteed Loan Program.  In accordance with the CARES Act, the purposes of the additional B&I funding is to prevent, prepare for and respond to the effects of the pandemic. It is the Agency’s intent that guaranteed loan funds will be primarily for working capital loan purposes to support business operations and facilities in rural areas. The Small Business Administration’s Paycheck Protection Program’s funding is depleted and this funding is the only source to fill the gap for our Rural Businesses that are severely impacted due to the economic impacts of COVID19. This critical funding will allow Rural Businesses to get bridge funding for operating expenses to allow them to stay open at this time. This action will supplement the current Business and Industry (B&I) Guaranteed Loan Program in 7 CFR 4279, Guaranteed Loan Making and 7 CFR 4287, Servicing, with the new B&I CARES Act Guaranteed Loan Program.

 
Agency: Department of Agriculture(USDA)  Priority: Economically Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Fully or Partially Exempt 
CFR Citation: 7 CFR 4279    7 CFR 4287   
Legal Authority: Pub. L. 116-136   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  05/22/2020  85 FR 31035   
Interim Final Rule Effective  05/22/2020 
Interim Final Rule Comment Period End  06/22/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michele Brooks
Department of Agriculture
Rural Business-Cooperative Service
1400 Independence Avenue SW,
Washington, DC 20250
Phone:202 690-1078
Email: michele.brooks@usda.gov