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Notice

Maximum Loan Amount Available for B&I Guaranteed Loans in Fiscal Year 2012

Document Details

Information about this document as published in the Federal Register.

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This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

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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. Start Printed Page 61342Any 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.

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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.

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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.

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Dated: September 28, 2011.

Judith A. Canales,

Administrator, Rural Business-Cooperative Service.

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[FR Doc. 2011-25563 Filed 10-3-11; 8:45 am]

BILLING CODE 3410-XY-P