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SBA | RIN: 3245-AH83 | Publication ID: Fall 2023 |
Title: Changes to the Microloan Program Under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act | |
Abstract:
SBA will publish a notice of direct final rule in order to reflect statutory changes to the Microloan Program contained in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (PL 116-260). The changes increase the total amount an Intermediary may borrow under the Microloan Program per year and in aggregate, increase the maximum term of a microloan to a small business borrower, expand eligibility for Intermediaries to receive a bonus grant and adds the necessary definitions, and place a minimum and maximum on the base grant award amount for Intermediaries. The change will apply to the Microloan loan program. |
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Agency: Small Business Administration(SBA) | Priority: Substantive, Nonsignificant |
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, subpart G (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: Pub. L. 116-260 |
Legal Deadline:
None |
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Timetable:
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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: Daniel Upham Chief, Microenterprise Development Division Small Business Administration 409 Third Street SW, Washington, DC 20416 Phone:202 205-7001 Fax:202 481-6564 Email: daniel.upham@sba.gov |