rural-development · Rural Housing Service · Rule · Published 1996-12-23 · Effective 1996-12-23 · 61 FR 67624
Document
Document number
96-32170
Federal Register citation
61 FR 67624
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
1996-12-23
Effective date
1996-12-23
Abstract
The Rural Business-Cooperative Service (RBS) is the successor to the Rural Business and Cooperative Development Service, which was the successor to the Rural Development Administration (RDA), which was the successor to the Farmers Home Administration (FmHA). RBS is issuing new Business and Industry (B&I) Guaranteed Loan Program regulations to replace the FmHA regulations for the program. This action is needed to streamline and update the program. The intended effect is to shorten, simplify, and clarify the regulation; shift some responsibility for loan documentation and analysis from the Agency to the lenders; make the program more responsive to the needs of lenders and businesses; and provide for smoother and faster processing of applications.