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Debt Refinancing in the 504 Loan Program

SBA · final-rule · Published 2021-07-29 · Effective 2021-07-29 · 86 FR 40775

Document

Document number
2021-15975
Federal Register citation
86 FR 40775
CFR reference
13 CFR 120
Type
Rule
Action
Interim final rule with request for comments.
Category
final-rule
Agency
US Small Business Administration
Publication date
2021-07-29
Effective date
2021-07-29

Abstract

This interim final rule implements section 328 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, which revises the requirements for refinancing debt in the 504 Loan Program, including: For 504 debt refinancing involving expansions, increasing the amount of existing indebtedness that may be refinanced; and for 504 debt refinancing not involving expansions, removing two limitations on the program, reinstating an alternate job retention goal for the refinancing project, revising the definition of qualified debt, and removing the prohibition against Certified Development Companies ("CDCs") participating in the Premier Certified Lenders Program using their delegated authority to make these loans.

Source

Authoritative
Federal Register document
Machine
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