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Small Business Jobs Act: 504 Loan Program Debt Refinancing

SBA · final-rule · Published 2011-10-12 · Effective 2011-10-12 · 76 FR 63151

Document

Document number
2011-26311
Federal Register citation
76 FR 63151
CFR reference
13 CFR 120
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Small Business Administration
Publication date
2011-10-12
Effective date
2011-10-12

Abstract

This rule finalizes the interim final rule that implemented section 1122 of the Small Business Jobs Act of 2010, which authorizes projects approved for financing under Title V of the Small Business Investment Act to include the refinancing of qualified debt. As a result of comments received, this final rule amends the interim final rule to authorize the financing of business expenses as part of a Refinancing Project, to allow the Third Party Loan to be at least as much as the 504 loan instead of requiring that the Third Party Loan provide at least 50% of the financing, and to revise the definition of qualified debt. Other aspects of the interim final rule are adopted as final without change.

Source

Authoritative
Federal Register document
Machine
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