The U.S. Small Business Administration has proposed revisions to its regulations for determining affiliation under the organization’s business loan programs, as well as its surety bond guarantee program. These revisions are designed to simplify eligibility determinations and reduce costs and processing time, according to the SBA.
The proposed revisions were published October 2 in the Federal Register – and the comment period will be open until December 1. The SBA seeks comments from the public on the proposed rule and will consider these comments in its development of a final rule.
The proposed rule would apply to affiliation rules for the SBA’s business loan programs and the surety bond guarantee program, but would not apply to SBA government contracting, business development, or grant programs. The affected programs would include: the 7(a) Loan Program, the Business Disaster Loan Programs (collectively, the Economic Injury Disaster Loans, Reservist Injury Disaster Loans, Physical Disaster Business Loans, Immediate Disaster Assistance Program loans), the Microloan Program, the Development Company Program (the “504 Loan Program” ) and the Surety Bond Guarantee Program (the “SBG Program” ).
For questions concerning the proposed revisions, call Linda Reilly at (202) 205-9949, or email: [email protected].
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