[Federal Register Volume 59, Number 142 (Tuesday, July 26, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-18067] [[Page Unknown]] [Federal Register: July 26, 1994] ----------------------------------------------------------------------- SMALL BUSINESS ADMINISTRATION Delegation of Authority AGENCY: Small Business Administration. ACTION: Notice Delegating Loan Approval Authority to Specific Agency Field Personnel. ----------------------------------------------------------------------- SUMMARY: This notice delegates authority to a specific Small Business Administration (SBA) field person to approve SBA guaranteed and economic development loans. This authority is based upon the education, training, and experience of such person and is meant to expedite Agency action in processing loan applications. EFFECTIVE DATE: This notice is effective July 8, 1994. FOR FURTHER INFORMATION CONTACT: John R. Cox, Associate Administrator for Financial Assistance, U.S. Small Business Administration, 409 Third Street, SW, Washington, DC 20416, Tel. (202) 205-6490. SUPPLEMENTARY INFORMATION: On December 19, 1991, SBA published in the Federal Register, a final rule amending Sec. 101.3-2 of part 101, Title 13, Code of Federal Regulations, which set forth a clarified standard delegation of authority to conduct program activities in SBA field offices (56 FR 65821). Previously Sec. 101.3-2 had set forth the standard delegation of authority to SBA field personnel as well as all deviations from the standard based upon education, experience, and/or training. The December 19, 1991, publication eliminated all deviations in favor of a standard delegation of authority. In addition, the rule provided authority by which SBA might, as it deemed appropriate, increase, decrease, or set the level of authority for any individual SBA field official in a regional, district, or branch office, based upon education, training, or experience, by publication of a notice in the Federal Register. The Agency believes that, when appropriate, delegating increased levels of authority to field personnel yields increased benefits for program participants and SBA. SBA is authorized to guarantee up to 90% of a loan depending upon total loan amount. Further, SBA has certain authority to make direct loans and economic development (503/504) loans. As such, it is essential that the Agency have qualified loan officers to process expeditiously and accurately the applications submitted. Agency officials in the field who are delegated greater levels of authority in light of their additional education, training, or experience allow for loan applications of greater amounts being processed where both the lender and the borrower are located. In this fashion, the loan applicant and the lender are both served with quicker and more accurate processing, while the Agency is served by quality lending and, in the case of guaranteed loans, better relations with its participating lenders. This notice delegates authority to a specific SBA official to approve guaranteed and direct and 503/504 loan applications, as well as to undertake other loan related activities based upon experience. The SBA Officer-in-Charge of the Camden Post-of-Duty has successfully completed training courses offered by the Agency. Such training in conjunction with his extensive experience qualifies him to better analyze and process loan applications and justifies delegating loan approval authority. No standard delegated authority to approve SBA guaranteed and direct loans and 503/504 loans exists for a post-of-duty office. This notice establishes the authority to approve each type of SBA loan at $250,000 and the authority to decline each type of SBA loan at $750,000 for the Camden Post-of-Duty Office and only for that post-of-duty office. This delegation of authority is specific to the incumbent and continues only so long as he remains in such position. Dated: July 8, 1994. John R. Cox, Associate Administrator for Financial Assistance. [FR Doc. 94-18067 Filed 7-25-94; 8:45 am] BILLING CODE 8025-01-M