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Microloan Program; Changes to the Microloan Program Under the Economic Aid To Hard-Hit Small Businesses, Nonprofits, and Venues Act

SBA · final-rule · Published 2024-05-02 · Effective 2024-06-17 · 89 FR 35688

Document

Document number
2024-09520
Federal Register citation
89 FR 35688
CFR reference
13 CFR 120
Type
Rule
Action
Direct final rule.
Category
final-rule
Agency
US Small Business Administration
Publication date
2024-05-02
Effective date
2024-06-17
Docket
Docket No. SBA-2023-0010

Abstract

The U.S. Small Business Administration (SBA) is amending its Microloan Program regulations to reflect statutory changes to the Microloan Program contained in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. The changes increase the total amount an Intermediary may borrow under the Microloan Program per year and in aggregate, expand eligibility for Intermediaries to receive a bonus grant and add the necessary definitions, and revise the eligible base grant award amount for Intermediaries under certain circumstances. This direct final rule conforms the regulations to the Act by adopting the new statutory requirements without change.

Source

Authoritative
Federal Register document
Machine
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