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Disaster Assistance Loan Program Changes to Unsecured Loan Amounts and Credit Elsewhere Criteria

SBA · final-rule · Published 2024-07-24 · Effective 2024-09-09 · 89 FR 59826

Document

Document number
2024-16207
Federal Register citation
89 FR 59826
CFR reference
13 CFR 123
Type
Rule
Action
Direct final rule.
Category
final-rule
Agency
US Small Business Administration
Publication date
2024-07-24
Effective date
2024-09-09

Abstract

This direct final rule amends the U.S. Small Business Administration (SBA or Agency) regulations governing the SBA Disaster Loan Program by revising how it determines whether an applicant has credit elsewhere to modernize and replace the current process. SBA is also increasing the unsecured threshold for physical damage loans under Major Disaster declarations and for Economic Injury Disaster Loans (EIDL) under all disaster declarations.

Source

Authoritative
Federal Register document
Machine
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