By Government Contracts Editorial Staff
An interim final rule amends Small Business Administration business loan program regulations. The rule addresses requirements related to SBA’s Express and Export Express Loan Programs, injection of excess liquid assets into a project, affiliation principles that apply to SBA financial assistance programs, limitations on certain fees payable by loan applicants, lender responsibilities for contingent liabilities associated with 7(a) loans purchased from the Federal Deposit Insurance Corporation, and use of microloan grant funds by microloan intermediaries and the maximum maturity of a microloan. The rule impacts the 7(a) Loan Program, the Business Disaster Loan Programs, the Microloan Program, the Intermediary Lending Pilot Program, the Surety Bond Guarantee Program, and the Development Company (504 Loan) Program. This rule goes into effect March 11, 2020. Comments on the rule are due April 10, 2020. For the text of the rule, see ¶70,425.648.
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