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SBA · final-rule · Published 1995-01-23 · Effective 1995-01-23 · 60 FR 4372

Document

Document number
95-1503
Federal Register citation
60 FR 4372
CFR reference
13 CFR 122
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Small Business Administration
Publication date
1995-01-23
Effective date
1995-01-23

Abstract

Under this final rule, SBA is implementing certain provisions of the ``Small Business Administration Reauthorization and Amendments Act of 1994'', enacted on October 22, 1994, which are relevant to its guaranteed lending programs with respect to export revolving line of credit loans (ERLC) and international trade loans. With respect to ERLC loans, the rule deletes the present regulatory provision limiting such loans to a maturity of three years. In addition, the regulation also provides that SBA may guarantee standby letters of credit issued in connection with ERLC lending. With respect to international trade loans, the rule increases the percentage of the loan which SBA may guarantee from 85 percent to 90 percent. Under the rule, up to $750,000 (instead of $250,000) of an international trade loan could be used for working capital, supplies or ERLC financing.

Source

Authoritative
Federal Register document
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