Government Contracts Changes for Disaster Loan, Intermediary Lending Regulations
Wednesday, April 1, 2020

Changes for Disaster Loan, Intermediary Lending Regulations

By Government Contracts Editorial Staff

The Small Business Administration has issued a direct final rule removing and reserving the regulations that apply to two disaster loan programs: Pre-Disaster Mitigation Loans (Subpart E to SBA Part 123) and Economic Injury Disaster Loans as a Result of the September 11, 2001 Terrorist Attacks (Subpart G to SBA Part 123). SBA removed these regulations because the two loan programs have expired. The rule goes into effect on June 3, 2020, unless SBA receives significant adverse comment by May 4, 2020. SBA will withdraw the rule if it receives significant adverse comment. See ¶70,425.650 for the text of this rule.

More Regulations Removed. SBA is also proposing to remove three regulations (SBA 109.200, SBA 109.210, and SBA 109.220) governing the application and selection process for Intermediary Lending Pilot Program Intermediaries. These regulations are no longer necessary because SBA is no longer authorized to select new ILP Intermediaries. The rule would also make conforming amendments to SBA 109.20 and SBA 109.440. Comments on this rule are due May 4, 2020. For the text of the proposed rule, see 85 FR 12875.

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