[Federal Register Volume 67, Number 114 (Thursday, June 13, 2002)]
[Notices]
[Page 40766]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-14894]


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SMALL BUSINESS ADMINISTRATION


Announcement of the Extension of the SBAExpress Pilot Loan 
Program

AGENCY: U.S. Small Business Administration.

ACTION: Notice of pilot extension.

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SUMMARY: The U.S. Small Business Administration (SBA) announces 
extension of the SBAExpress Loan program as a pilot until September 30, 
2002. This extension will allow time for the Agency to develop, 
implement and test significant changes to the program. These changes 
are the product of discussions with SBA field offices, SBA lenders, and 
the small business community.
    The SBAExpress Pilot Loan program was established in 1995 to 
streamline and expedite the SBA's loan application, processing and 
approval procedures for smaller loans and to substantially increase the 
number of those loans approved by the Agency. While the program has 
grown to represent 29 percent of the SBA's current loan volume, the 
Agency has identified a number of changes and enhancements that would 
make the program more attractive to its lending partners and better 
meet the needs of small businesses. The extension of SBAExpress as a 
pilot until September 30, 2005, will allow the Agency to implement 
those changes and test their implications for the Agency's portfolio. 
It will also allow SBA to further consult with regulatory and lending 
institutions, lenders and the small business community about the 
program.

FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial 
Assistance, U.S. Small Business Administration, 409 Third Street, SW, 
Suite 8300, Washington, DC 20416; telephone (202) 205-6490.

    Dated: June 7, 2002.
Jane Palsgrove Butler,
Associate Administrator for Financial Assistance.
[FR Doc. 02-14894 Filed 6-12-02; 8:45 am]
BILLING CODE 8025-01-P