504 Loan Program Rural Initiative-Waiver of Limitation on Lending Authority
SBA · other · Published 2018-07-19 · 83 FR 34021
Document
Document number
2018-15312
Federal Register citation
83 FR 34021
CFR reference
13 CFR 120
Type
Rule
Action
Notification of 504 Loan Program Rural Initiative Pilot Program and impact on regulatory provisions.
Category
other
Agency
US Small Business Administration
Publication date
2018-07-19
Abstract
The U.S. Small Business Administration (SBA) announces the 504 Loan Program Rural Initiative Pilot Program (504 Rural Pilot), as described in this document, and its impact on Agency regulations. The 504 Rural Pilot waives the restrictions on the authority of Certified Development Companies (CDCs) to make 504 loans outside their Area of Operations to allow each CDC to make loans for 504 Projects with an address located in any rural county if the 504 Project is located in the same SBA Region in which the CDC is incorporated. This pilot will provide rural small businesses with increased opportunities to access capital and will further the statutory public policy goal of the 504 Loan Program to achieve rural development impact.