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SBA RIN: 3245-AH76 Publication ID: Fall 2021 
Title: Build Back Better (BBB) Recovery Loan Program 
Abstract:

SBA will be issuing an interim final rule to promulgate temporary regulations and guidance to assist with the White House initiative to Build Back Better (BBB). This interim final rule would allow for modifications to the 7(a) Loan Program which would move small business toward recovering after the COVID-19 pandemic.

The BBB Recovery Loan IFR would revise the requirements for refinancing same institution debt in the 7(a) Loan Program, including: (1) Loan modifications; and (2) Working Capital. SBA will provide guidance on reasonable expectations of loss and how proceeds can be used for debt, accounts payable, rent, and other related business expenses. The IFR will allow for business restructuring options that will not be treated as special mention, or impaired, and will not be a Troubled Debt Restructuring (TDR)

 
Agency: Small Business Administration(SBA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 13 CFR 120   
Legal Authority: 15 U.S.C 636(a)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  06/00/2022 
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