# Business and Industrial Loan Program
> **Rural Housing Service** · Final rule. · Published 1996-12-23 · Effective 1996-12-23 · 61 FR 67624
## Document
- **Document number:** 96-32170
- **Category:** rural-development
- **Sub-agency:** Rural Housing Service
- **Federal Register citation:** 61 FR 67624
- **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.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1996/12/23/96-32170/business-and-industrial-loan-program)
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