United States Government Publishing Office
publisher
pbl
distributor
dst
United States
National Archives and Records Administration
Office of the Federal Register
author
aut
Government Organization
text
government publication
eng
FR
Regulatory Information
2003_register
executive
2011-05-10
article
Maximum Portion of Guarantee Authority Available for Fiscal Year 2003
Notices
D09002ee1bdec70e8
D09002ee1bdec7187
United States
Department of Agriculture
originator
org
United States Government Agency or Subagency
United States
Rural Business-Cooperative Service
originator
org
United States Government Agency or Subagency
As set forth in 7 CFR part 4279, subpart B, each fiscal year (FY) the Agency shall establish a limit on the maximum portion of guarantee authority available for that fiscal year that may be used to guarantee loans with a guarantee fee of 1 percent or guaranteed loans with a guarantee percentage exceeding 80 percent. This notice covers only FY 2002 carryover and recovered funds. Once FY 2003 appropriated funds are apportioned, a second notice will be published for those funds. Allowing the guarantee fee to be reduced to 1 percent or exceeding the 80 percent guarantee on certain guaranteed loans that meet the conditions set forth in 7 CFR 4279.107 and 4279.119 will increase the Agency's ability to focus guarantee assistance on projects which the Agency has found particularly meritorious, such as projects in rural communities that remain persistently poor, experience long-term population decline and job deterioration, are experiencing trauma as a result of natural disaster or are experiencing fundamental structural changes in the economic base. Not all of the available Business and Industry (B&I) Guaranteed Loan program funding authority for FY 2002 was used; consequently, this and recovered funding authority for approved B&I Guaranteed Loans which did not come to fruition are now apportioned and available for use. Not more than 12 percent of the Agency's quarterly apportioned carryover and recovered guarantee authority will be reserved for loan requests with a guarantee fee of 1 percent, and not more than 15 percent of the Agency quarterly apportioned carryover and recovered guarantee authority will be reserved for guaranteed loan requests with a guaranteed percentage exceeding 80 percent. Once the above quarterly limits have been reached, all additional loans guaranteed with carryover and recovered funds during the remainder of that quarter will require a 2 percent guarantee fee and not exceed an 80 percent guarantee limit. As an exception to this paragraph and for the purposes of this notice, loans developed by the North American Development Bank (NADBank) Community Adjustment and Investment Program (CAIP) will not count against the 15 percent limit. Up to 50 percent of CAIP funds may be used for loan requests with a guaranteed percentage exceeding 80 percent. Written requests by the Rural Development State Office for approval of a guaranteed loan with a 1 percent guarantee fee or a guaranteed loan exceeding 80 percent must be forwarded to the National Office, Attn: Director, Business and Industry Division, for review and consideration prior to obligation of the guaranteed loan. The Administrator will provide a written response to the State Office confirming approval or disapproval of the request.
68 FR 12032
https://www.govinfo.gov/app/details/FR-2003-03-13/03-6052
03-6052
fr13mr03-37
3410-XY-P
https://www.govinfo.gov/app/details/FR-2003-03-13/03-6052
https://www.govinfo.gov/content/pkg/FR-2003-03-13/html/03-6052.htm
https://www.govinfo.gov/content/pkg/FR-2003-03-13/pdf/03-6052.pdf
1 p.
12032
12032
68 FR 12032
Maximum Portion of Guarantee Authority Available for Fiscal Year 2003; Federal Register Vol. 68, Issue
NOTICE
03-6052
DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service
3410-XY-P
03-6052
Notice.
As set forth in 7 CFR part 4279, subpart B, each fiscal year (FY) the Agency shall establish a limit on the maximum portion of guarantee authority available for that fiscal year that may be used to guarantee loans with a guarantee fee of 1 percent or guaranteed loans with a guarantee percentage exceeding 80 percent. This notice covers only FY 2002 carryover and recovered funds. Once FY 2003 appropriated funds are apportioned, a second notice will be published for those funds. Allowing the guarantee fee to be reduced to 1 percent or exceeding the 80 percent guarantee on certain guaranteed loans that meet the conditions set forth in 7 CFR 4279.107 and 4279.119 will increase the Agency's ability to focus guarantee assistance on projects which the Agency has found particularly meritorious, such as projects in rural communities that remain persistently poor, experience long-term population decline and job deterioration, are experiencing trauma as a result of natural disaster or are experiencing fundamental structural changes in the economic base. Not all of the available Business and Industry (B&I) Guaranteed Loan program funding authority for FY 2002 was used; consequently, this and recovered funding authority for approved B&I Guaranteed Loans which did not come to fruition are now apportioned and available for use. Not more than 12 percent of the Agency's quarterly apportioned carryover and recovered guarantee authority will be reserved for loan requests with a guarantee fee of 1 percent, and not more than 15 percent of the Agency quarterly apportioned carryover and recovered guarantee authority will be reserved for guaranteed loan requests with a guaranteed percentage exceeding 80 percent. Once the above quarterly limits have been reached, all additional loans guaranteed with carryover and recovered funds during the remainder of that quarter will require a 2 percent guarantee fee and not exceed an 80 percent guarantee limit. As an exception to this paragraph and for the purposes of this notice, loans developed by the North American Development Bank (NADBank) Community Adjustment and Investment Program (CAIP) will not count against the 15 percent limit. Up to 50 percent of CAIP funds may be used for loan requests with a guaranteed percentage exceeding 80 percent. Written requests by the Rural Development State Office for approval of a guaranteed loan with a 1 percent guarantee fee or a guaranteed loan exceeding 80 percent must be forwarded to the National Office, Attn: Director, Business and Industry Division, for review and consideration prior to obligation of the guaranteed loan. The Administrator will provide a written response to the State Office confirming approval or disapproval of the request.
March 13, 2003.
Fred Kieferle, Processing Branch Chief, Business and Industry Division, Rural Business-Cooperative Service, USDA, Stop 3224, 1400 Independence Avenue, SW., Washington, DC 20250-3224, telephone (202) 720-7818.
Loan guarantee authority; maximum portion available (2003 FY),
Federal Register
Vol. 68, no. 49
Office of the Federal Register, National Archives and Records Administration
2003-03-13
continuing
daily
deposited
born digital
326 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2003-03-13
P0b002ee180cfc075
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr13mr03
https://www.govinfo.gov/app/details/FR-2003-03-13
https://www.govinfo.gov/content/pkg/FR-2003-03-13/pdf/FR-2003-03-13.pdf
https://www.govinfo.gov/content/pkg/FR-2003-03-13/xml/FR-2003-03-13.xml
fdlp
11967
12155
DGPO
2011-05-10
2023-05-04
FR-2003-03-13
machine generated
eng
FR
FR-2003-03-13
68
49