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SBA

RIN: 3245-AG98

Publication ID: Spring 2020

Title: Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Programs to Reduce Unnecessary Regulatory Burden
Abstract: SBA is proposing to streamline 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 The proposed changes include removing or revising regulations related to programs that are either no longer in effect or have not been funded for many years, such as the America’s Recovery Capital Loan Program, certain 7(a) direct loans to small businesses, or the veteran’s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.
Agency: Small Business Administration(SBA)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
EO 13771 Designation: Deregulatory
CFR Citation: 13 CFR 120
Legal Authority: 15 U.S.C. 636(a) 15 U.S.C. 636(m) 15 U.S.C. 695 et seq.

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	06/00/2020

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: Dianna L. Seaborn Director, Office of Financial Assistance Small Business Administration 409 Third Street SW, Washington, DC 20416 Phone:202 205-3645 Email: dianna.seaborn@sba.gov