[Federal Register Volume 61, Number 42 (Friday, March 1, 1996)]
[Rules and Regulations]
[Pages 7985-7986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4773]



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SMALL BUSINESS ADMINISTRATION
13 CFR Part 120


Business Loan Programs; Correction

AGENCY: Small Business Administration.

ACTION: Correction to final regulations.

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SUMMARY: This document contains corrections to the final regulations 
that were published Wednesday, January 31, 1996, (61 FR 3226). The 
regulations related to eligible passive companies, interest rates on 
smaller loans, the Certified Lenders Program, and the Development 
Company Loan Program.

EFFECTIVE DATE: March 1, 1996.

FOR FURTHER INFORMATION CONTACT: John R. Cox, (202) 205-6490.

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of these corrections 
concern policies applicable to SBA's business (non-disaster) loan 
programs. Section 120.111 relates to all business loans, Sec. 120.215 
relates to 7(a) business loans, Sec. 120.440 relates to special purpose 
loans, and Sec. 120.839 relates to development company loans.

Need for Correction

    As published, the final regulations contain errors that may prove 
to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication on January 31, 1996 of the final 
regulations 

[[Page 7986]]
that were the subject of FR Doc. 96-1432, is corrected as follows:


Sec. 120.111  [Corrected]

    1. On page 3240, in the second column, in Sec. 120.111, paragraph 
(a)(4), the term ``of the Operating Company'' is corrected to read 
``and the Operating Company''.
    2. On page 3240, in the second and third columns, in Sec. 120.111, 
paragraph (b), paragraph (b)(2) is removed and paragraphs (b)(3), 
(b)(4) and (b)(5) are redesignated as paragraphs (b)(2), (b)(3) and 
(b)(4).


Sec. 120.215  [Corrected]

    3. On page 3243, in the third column, in Sec. 120.215, the term 
``variable rate'' in the second sentence is removed.


Sec. 120.440  [Corrected]

    4. On page 3248, in the second column, in Sec. 120.440, the phrase 
``attempts to respond within three days of submission to SBA'' is 
corrected to read ``will provide expedited loan processing or 
servicing''.


Sec. 120.839  [Corrected]

    5. On page 3260, in the second column, in Sec. 120.839, paragraph 
(a)(2), in the last line after the semicolon, the word ``and'' is 
corrected to read ``or''.

    Dated: February 26, 1996.
John T. Spotila,
Acting Administrator.
[FR Doc. 96-4773 Filed 2-29-96; 8:45 am]
BILLING CODE 8025-01-P