[Federal Register Volume 71, Number 239 (Wednesday, December 13, 2006)]
[Notices]
[Page 74982]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-21137]


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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 SBA's extension of the CommunityExpress 
Pilot Program until March 31, 2007. This extension will allow time for 
the Agency to complete its analyses of this program and also complete 
internal discussions regarding potential modifications and 
enhancements.

DATES: The CommunityExpress Pilot Program is extended under this notice 
until March 31, 2007.

FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial 
Assistance, U.S. Small Business Administration, 409 Third Street, SW., 
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 Program. 
Lenders approved for participation in CommunityExpress are authorized 
to use the expedited loan processing procedures in place for the 
SBAExpress 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. SBA previously extended 
CommunityExpress until November 30, 2005 (70 FR 56962), again to May 
31, 2006 (70 FR 71363), and then again to December 31, 2006 (71 FR 
29703), to consider possible changes and enhancements to the Program.
    The further extension of this program until March 31, 2007, will 
allow the SBA to complete its analyses and internal discussions of 
possible changes and enhancements to the program. It will also allow 
SBA to further consult with its lending partners, the small business 
community and its oversight authorities about the Program.

(Authority: 13 CFR 120.3)

Janet A. Tasker,
Acting Associate Administrator for Financial Assistance.
[FR Doc. E6-21137 Filed 12-12-06; 8:45 am]
BILLING CODE 8025-01-P