[Federal Register Volume 70, Number 188 (Thursday, September 29, 2005)]
[Notices]
[Page 56962]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-19442]


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SMALL BUSINESS ADMINISTRATION


CommunityExpress Pilot Program

AGENCY: U.S. Small Business Administration (SBA).

ACTION: Notice of Pilot Program extension.

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SUMMARY: This notice announces the extension of SBA's CommunityExpress 
Pilot Program until November 30, 2005. This extension will allow time 
for SBA to complete its decisionmaking regarding potential 
modifications and enhancements to the Program.

DATES: The CommunityExpress Pilot Program is extended under this notice 
until November 30, 2005.

FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial 
Assistance, U.S. Small Business Administration, 409 Third Street, 
Washington, DC 20416; Telephone (202) 205-6490; [email protected].

SUPPLEMENTARY INFORMATION: The CommunityExpress Pilot Program was 
established in 1999 as a subprogram of the Agency's SBAExpress Pilot 
Program. Lenders approved for participation in CommunityExpress are 
authorized to use the expedited loan processing procedures in place for 
the SBAExpress Pilot Program, but the loans approved under this Program 
must be to distressed or underserved markets. To encourage lenders to 
make these loans, SBA provides its standard 75-85 percent guaranty, 
which contrasts to the 50 percent guaranty the Agency provides under 
SBAExpress. However, under CommunityExpress, participating lenders must 
arrange and, when necessary, pay for appropriate technical assistance 
for any borrowers under the program. Maximum loan amounts under this 
Program are limited to $250,000.
    The extension of this Program until November 30, 2005, will allow 
SBA to more fully evaluate the results and impact of the Program and to 
consider possible changes and enhancements to the Program. It will also 
allow SBA to further consult with its lending partners and the small 
business community about the Program.

(Authority: 13 CFR 120.3)

Michael W. Hager,
Associate Deputy Administrator.
[FR Doc. 05-19442 Filed 9-28-05; 8:45 am]
BILLING CODE 8025-01-P