Notices. Notice
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/register/2011/10/04/2011-25563·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 3410-34-P DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Maximum Loan Amount Available for B&I Guaranteed Loans in Fiscal Year 2012 AGENCY: Rural Business-Cooperative Service, USDA. ACTION: Notice. SUMMARY: 7 CFR 4279.119(a)(1) allows the Rural Development Administrator, at the Administrator's discretion, to grant an exception to the $10 million limit for Business and Industry (B&I) guaranteed loans of $25 million or less under certain circumstances.
Due to the limited program funds that will be available for Fiscal Year 2012 for the B&I Guaranteed Loan Program, the Administrator has decided not to grant exceptions to the $10 million limit during FY 2012 in an effort to make guaranteed loan funds go farther and to provide financing assistance to as many projects as possible. Limiting guaranteed loans to $10 million or less will allow the Agency to guarantee more loans and target smaller loans/projects impacting more small businesses and will assist the Agency to conserve scarce funding dollars at a time when there is unprecedented interest in the program.
Any applications that have been received as of the date of publication of this notice will be given full consideration. DATES: *Effective Dates:* October 4, 2011. FOR FURTHER INFORMATION CONTACT: Brenda Griffin, e-mail *Brenda.griffin@wdc.usda.gov* , Rural Development, Business Programs, Business and Industry Division, STOP 3224, 1400 Independence Avenue, SW., Washington, DC 20250-3224; telephone
(202)690-6802. SUPPLEMENTAL INFORMATION: This action has been reviewed and determined not to be a rule or regulation as defined in Executive Order 12866 as amended by Executive Order 13258. Dated: September 28, 2011. Judith A. Canales, Administrator, Rural Business-Cooperative Service. [FR Doc. 2011-25563 Filed 10-3-11; 8:45 am]
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- 7 CFR 4279.119(a)(1)
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