[Federal Register Volume 66, Number 97 (Friday, May 18, 2001)]
[Notices]
[Page 27721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-12585]


-----------------------------------------------------------------------

SMALL BUSINESS ADMINISTRATION


New Markets Venture Capital Program; Extension of Application 
Deadline

AGENCY: U.S. Small Business Administration.

ACTION: Notice of extension of application deadline.

-----------------------------------------------------------------------

SUMMARY: SBA invites applications for designation as a New Markets 
Venture Capital (``NMVC'') Company and for grant awards available both 
to participants in the NMVC Program and to Specialized Small Business 
Investment Companies. SBA extends its deadline for accepting 
applications from 4 p.m. on May 21, 2001 to 4 p.m. on May 29, 2001.

DATES: Applications may be submitted to SBA immediately. The deadline 
for receipt of an application has been extended to 4 p.m. EST on May 
29, 2001. Applications received in SBA's offices after that date and 
time will be rejected and returned to the sender.

ADDRESSES: Applications must be sent to Austin Belton, Director, Office 
of New Markets Venture Capital, Investment Division, U.S. Small 
Business Administration, 409 3rd Street, SW., Suite 6300, Washington, 
DC 20416. Applications sent electronically or by facsimile will not be 
accepted.

FOR FURTHER INFORMATION CONTACT: If you have any questions about the 
requirements for this program or application procedures, or wish to 
request an application package, contact Austin Belton, Director, Office 
of New Markets Venture Capital, Investment Division, or Louis Cupp, 
Policy Analyst, Investment Division, 202-205-6510. Applications and 
other information regarding SBA and its programs may be downloaded from 
SBA's web site at http://www.sba.gov/inv.

SUPPLEMENTARY INFORMATION: SBA previously extended this application 
deadline from April 19, 2001 to May 21, 2001 (66 FR 18993, April 12, 
2001). SBA originally published information about this funding 
opportunity in a Notice of Funds Availability (``NOFA''), published in 
the Federal Register on January 22, 2001 (66 FR 7247).
    Applicants should refer to the NOFA (66 FR 7247) for more detailed 
information concerning this funding opportunity, including how to 
obtain applications and the amount of funds available for award. 
However, SBA makes one important revision to the NOFA. The NOFA 
referred applicants to an interim final rule SBA published in the 
Federal Register on January 22, 2001 (66 FR 7218). However, SBA will be 
withdrawing that interim final rule and, as a result, will not be 
implementing the NMVC program with that rule (see discussion in 
preamble to SBA's proposed rule, published in the Federal Register on 
April 23, 2001, 66 FR 20531-20532). Applicants instead are directed to 
a new final rule that SBA intends to publish in the Federal Register 
within a week of today's date. SBA will implement the NMVC program, 
including evaluating and selecting applications, through that new rule 
instead of through the interim final rule SBA previously published on 
January 22, 2001. Applicants should refer to SBA's new final rule for 
information concerning fee requirements, evaluation criteria, and other 
program requirements. SBA's new final rule will apply to all 
applications received for the NMVC program.

    Authority: New Markets Venture Capital Program Act of 2001, Pub. 
L. No. 106-553, 114 Stat. 2762A; Federal Funding Act, Fiscal Year 
2001, Pub. L. 106-554, 114 Stat. 2763; and 13 CFR part 108.

    Dated: May 15, 2001.
Harry Haskins,
Acting Associate Administrator for Investment.
[FR Doc. 01-12585 Filed 5-17-01; 8:45 am]
BILLING CODE 8025-01-P