Community Express Pilot Program, 36950-36951 [E8-14846]
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36950
Federal Register / Vol. 73, No. 126 / Monday, June 30, 2008 / Notices
Under Section 19(b)(2) of the Act,24
the Commission may not approve any
proposed rule change prior to the
thirtieth day after publication of the
notice of the filing thereof, unless the
Commission find good cause for so
doing and publishes its reasons for so
finding. The Commission believes that
the proposed rule filing does not raise
any new, unique or substantive issues
from those raised in similar proposals
previously approved the Commission,25
allowing other exchanges to list and
trade reduced value index options on
the FTSE Indexes. Accordingly, the
Commission hereby finds good cause for
approving the proposed rule change
thereto prior to thirtieth day after the
date of publication of notice of filings
thereof in the Federal Register.
V. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,26 that the
proposed rule change (SR–NYSEArca–
2008–61) be, and it hereby is, approved
on an accelerated basis.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.27
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–14767 Filed 6–27–08; 8:45 am]
BILLING CODE 8010–01–P
SMALL BUSINESS ADMINISTRATION
Community Express Pilot Program
U.S. Small Business
Administration (SBA).
ACTION: Notice of Plan to Extend and
Restructure the Community Express
Pilot Program.
AGENCY:
SUMMARY: This notice extends the
Community Express Pilot Program in its
current form through September 30,
2008 and announces SBA’s plan to
restructure the program. The
restructured Community Express will be
effective October 1, 2008 to provide
SBA’s lending partners a transition
period to implement the changes and to
accommodate any Community Express
loan applications lenders may have in
process. This notice also extends the
Community Express Pilot Program
through December 31, 2009. Finally,
this notice reminds SBA’s participating
jlentini on PROD1PC65 with NOTICES
24 15
U.S.C. 78s(b)(2).
Securities Exchange Act Release No. 29722
(September 23, 1991), 56 FR 49807 (October 1,
1991) (order approving SR–CBOE–91–07); 53484
(March 14, 2006), 71 FR 14268 (March 21, 2006)
(order approving SR–ISE–2005–25).
26 15 U.S.C. 78s(b)(2).
27 17 CFR 200.30–3(a)(12).
25 See
VerDate Aug<31>2005
16:15 Jun 27, 2008
Jkt 214001
lenders of the statutory limitation on the
number of loans SBA can process under
a pilot program.
DATES: The Community Express Pilot
Loan Program is extended in its current
form through September 30, 2008. The
effective date of the changes to
Community Express is October 1, 2008,
and SBA is extending the restructured
Community Express as a pilot program
through December 31, 2009.
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; charles.thomas@sba.gov.
SUPPLEMENTARY INFORMATION: The
Community Express Pilot Program was
established in 1999 based on the
Agency’s SBA Express Program. Lenders
approved for participation in
Community Express are authorized to
use the expedited loan processing
procedures in place for SBA Express,
but the loans approved under
Community Express must be to
distressed or underserved markets. In
addition, participating lenders must
arrange and, when necessary, pay for
appropriate management and technical
assistance for their Community Express
borrowers. To encourage lenders to
make these loans, SBA provides its
standard 75–85 percent guaranty, which
contrasts with the 50 percent guaranty
the Agency provides under SBA
Express. The maximum loan amount
under this pilot program is $250,000.
Following extensive internal analysis
and discussion, as well as discussions
with SBA’s lending partners, SBA is
restructuring and enhancing the
Community Express Pilot Program to
improve its management,
administration, oversight, and delivery.
Through this notice, SBA is extending
the Community Express Pilot Program
in its current form through September
30, 2008. Also, SBA is providing its
lending partners with advance
notification of the key features of the
restructured Community Express Pilot
Program and SBA’s plans for
implementing the restructured program,
including the publication of procedural
guidance and the availability of a
transition period for lenders.
Under the restructured Community
Express Pilot Program, borrower
eligibility will be more clearly defined.
First, small businesses whose principal
office (as defined in 13 CFR 126.103) is
located in a HUBZone or Community
Reinvestment Act (CRA) area will be
eligible for Community Express. These
geographic areas are easily identifiable
and searchable through Web-based
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
facilities available through the Internet.
Second, loans of $25,000 or less
regardless of where the principal office
of the business is located will be eligible
for Community Express. Third, loans
made under SBA Headquarters
approved special market initiatives
designed to support local community/
economic development will be eligible
for Community Express.
In addition, SBA is retaining the
technical assistance (T/A) requirement
of Community Express, but giving
lenders the option to use SBA’s new
online Small Business Training Network
(SBTN) and other SBA T/A resources to
meet the program’s requirements.
Lenders will continue to be required to
document in their loan file the T/A
received by the borrower.
With the availability of SBA’s SBTN
and SBA’s other T/A resources and with
the Agency’s higher 75–85 percent
guaranty, the maximum interest rate
lenders may charge for Community
Express loans will be limited to the rate
applicable under standard 7(a). Under
standard 7(a), lenders may charge
interest rates up to Prime plus 2.25
percent for loans with maturities of less
than seven years and Prime plus 2.75
percent for loans with maturities that
are seven years or greater. Lenders may
charge rates 2 percent higher for loans
of $25,000 or less and 1 percent higher
for loans between $25,000 and $50,000.
SBA will publish detailed procedural
guidance on the program’s changes in
coming weeks, which will be followed
by lender support and training through
its district offices. To assist lenders in
understanding and implementing the
restructured Community Express Pilot
Program and to accommodate
Community Express loan applications
that lenders may already have in
process, SBA will delay implementation
of the changes until October 1, 2008.
But, as of October 1, 2008, all
Community Express loans must conform
to the requirements and procedures of
the restructured Community Express
Pilot Program.
Community Express is being extended
as a pilot program until December 31,
2009, which will allow SBA time to
fully evaluate the results of these
changes.
Because Community Express is a pilot
program, SBA must ensure that it
complies with Section 7(a)(25) of the
Small Business Act, which prohibits the
Agency from approving under any 7(a)
pilot loan program more than 10 percent
of the total number of 7(a) loans SBA
approves in any fiscal year. During the
early months of Fiscal Year 2008, SBA
received loan guaranty requests under
Community Express at a volume that
E:\FR\FM\30JNN1.SGM
30JNN1
Federal Register / Vol. 73, No. 126 / Monday, June 30, 2008 / Notices
would have exceeded this statutory
limit by year end, if unchecked. As a
result, during Fiscal Year 2008, the SBA
has taken steps to limit the number of
Community Express loans it will accept
each month. In addition to keeping the
number of Community Express loans
within the statutory limitation, this
action will help enhance competition,
diversify SBA lending, and control
SBA’s risk under the pilot program. SBA
will continue to closely monitor the
number of Community Express loans
approved and make further adjustments
as needed.
Authority: 13 CFR 120.3.
Eric R. Zarnikow,
Associate Administrator for Capital Access.
[FR Doc. E8–14846 Filed 6–27–08; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF STATE
[Delegation of Authority 313]
Delegation by the Deputy Secretary of
State to the Assistant Secretary of
State for International Organization
Affairs, and the Deputy Assistant
Secretary for Economic and Global
Affairs, Bureau of International
Organization Affairs, of Authorities
Under 39 U.S.C. 407(c)(1) and (2)
jlentini on PROD1PC65 with NOTICES
By virtue of the authority vested in
the Secretary of State, including the
authority of section 1 of the State
Department Basic Authorities Act, as
amended (22 U.S.C. 2651a), and
delegated to the Deputy Secretary by
Delegation of Authority 245 dated April
23, 2001, I hereby delegate to the
Assistant Secretary of State for
International Organization Affairs and
the Deputy Assistant Secretary for
Economic and Global Affairs, Bureau of
International Organization Affairs, to
the extent authorized by law, the
authority and functions of the Secretary
under 39 U.S.C. 407(c)(1) and (2).
Notwithstanding this delegation of
authority, the Secretary and the Deputy
Secretary may exercise any function or
authority covered by this delegation.
This delegation of authority shall be
published in the Federal Register.
Dated: June 20, 2008.
John D. Negroponte,
Deputy Secretary of State, Department of
State.
[FR Doc. E8–14778 Filed 6–27–08; 8:45 am]
BILLING CODE 4710–10–P
VerDate Aug<31>2005
16:15 Jun 27, 2008
Jkt 214001
DEPARTMENT OF STATE
[Public Notice 6256]
International Security Advisory Board
(ISAB) Meeting Notice
Closed Meeting
In accordance with section 10(a)(2) of
the Federal Advisory Committee Act, 5
U.S.C. App § 10(a)(2), the Department of
State announces a meeting of the
International Security Advisory Board
(ISAB) to take place on July 29, 2008, at
the Department of State, Washington,
DC.
Pursuant to section 10(d) of the
Federal Advisory Committee Act, 5
U.S.C. App § 10(d), and 5 U.S.C.
552b(c)(1), it has been determined that
this Board meeting will be closed to the
public in the interest of national defense
and foreign policy because the Board
will be reviewing and discussing
matters properly classified in
accordance with Executive Order 12958.
The purpose of the ISAB is to provide
the Department with a continuing
source of independent advice on all
aspects of arms control, disarmament,
political-military affairs, and
international security and related
aspects of public diplomacy. The
agenda for this meeting will include
classified discussions related to the
Board’s ongoing studies on current U.S.
policy and issues regarding
international security, nuclear
proliferation, and diplomacy.
For more information, contact Thelma
Jenkins-Anthony, Deputy Executive
Director of the International Security
Advisory Board, Department of State,
Washington, DC 20520, telephone: (202)
647–8436.
Dated: June 20, 2008.
Brandon A. Buttrick,
Executive Director, International Security
Advisory Board, Department of State.
[FR Doc. E8–14783 Filed 6–27–08; 8:45 am]
BILLING CODE 4710–27–P
DEPARTMENT OF TRANSPORTATION
Office of the Secretary
Notice of Applications for Certificates
of Public Convenience and Necessity
and Foreign Air Carrier Permits Filed
Under Subpart B (Formerly Subpart Q)
During the Week Ending June 13, 2008
The following Applications for
Certificates of Public Convenience and
Necessity and Foreign Air Carrier
Permits were filed under Subpart B
(formerly Subpart Q) of the Department
of Transportation’s Procedural
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
36951
Regulations (See 14 CFR 301.201 et
seq.). The due date for Answers,
Conforming Applications, or Motions to
Modify Scope are set forth below for
each application. Following the Answer
period DOT may process the application
by expedited procedures. Such
procedures may consist of the adoption
of a show-cause order, a tentative order,
or in appropriate cases a final order
without further proceedings.
Docket Number: DOT–OST–2008–
0187.
Date Filed: June 11, 2008.
Due Date for Answers, Conforming
Applications, or Motion to Modify
Scope: July 2, 2008.
Description: Application of Prescott
Support Company, Inc. requesting a
certificate of public convenience and
necessity authorizing it to conduct
foreign all-cargo air transportation of
property and mail on a charter basis.
Docket Number: DOT–OST–2008–
0188.
Date Filed: June 11, 2008.
Due Date for Answers, Conforming
Applications, or Motion to Modify
Scope: July 2, 2008.
Description: Application of Prescott
Support Company, Inc. requesting a
certificate of public convenience and
necessity authorizing it to engage in
interstate all-cargo air transportation of
property and mail, on a charter basis.
Renee V. Wright,
Program Manager, Docket Operations,
Federal Register Liaison.
[FR Doc. E8–14737 Filed 6–27–08; 8:45 am]
BILLING CODE 4910–9X–P
DEPARTMENT OF TRANSPORTATION
Office of the Secretary
Aviation Proceedings, Agreements
Filed the Week Ending June 6, 2008
The following Agreements were filed
with the Department of Transportation
under the Sections 412 and 414 of the
Federal Aviation Act, as amended (49
U.S.C. 1382 and 1384) and procedures
governing proceedings to enforce these
provisions. Answers may be filed within
21 days after the filing of the
application.
Docket Number: DOT–OST–2008–
0183.
Date Filed: June 3, 2008.
Parties: Members of the International
Air Transport Association.
Subject:
Mail Vote 569—Resolution 010a.
TC3 Within South East Asia.
Special Passenger Amending
Resolution from Vietnam to South
East Asia.
E:\FR\FM\30JNN1.SGM
30JNN1
]]>Agencies
[Federal Register Volume 73, Number 126 (Monday, June 30, 2008)]
[Notices]
[Pages 36950-36951]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-14846]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Community Express Pilot Program
AGENCY: U.S. Small Business Administration (SBA).
ACTION: Notice of Plan to Extend and Restructure the Community Express
Pilot Program.
-----------------------------------------------------------------------
SUMMARY: This notice extends the Community Express Pilot Program in its
current form through September 30, 2008 and announces SBA's plan to
restructure the program. The restructured Community Express will be
effective October 1, 2008 to provide SBA's lending partners a
transition period to implement the changes and to accommodate any
Community Express loan applications lenders may have in process. This
notice also extends the Community Express Pilot Program through
December 31, 2009. Finally, this notice reminds SBA's participating
lenders of the statutory limitation on the number of loans SBA can
process under a pilot program.
DATES: The Community Express Pilot Loan Program is extended in its
current form through September 30, 2008. The effective date of the
changes to Community Express is October 1, 2008, and SBA is extending
the restructured Community Express as a pilot program through December
31, 2009.
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; charles.thomas@sba.gov.
SUPPLEMENTARY INFORMATION: The Community Express Pilot Program was
established in 1999 based on the Agency's SBA Express Program. Lenders
approved for participation in Community Express are authorized to use
the expedited loan processing procedures in place for SBA Express, but
the loans approved under Community Express must be to distressed or
underserved markets. In addition, participating lenders must arrange
and, when necessary, pay for appropriate management and technical
assistance for their Community Express borrowers. To encourage lenders
to make these loans, SBA provides its standard 75-85 percent guaranty,
which contrasts with the 50 percent guaranty the Agency provides under
SBA Express. The maximum loan amount under this pilot program is
$250,000.
Following extensive internal analysis and discussion, as well as
discussions with SBA's lending partners, SBA is restructuring and
enhancing the Community Express Pilot Program to improve its
management, administration, oversight, and delivery. Through this
notice, SBA is extending the Community Express Pilot Program in its
current form through September 30, 2008. Also, SBA is providing its
lending partners with advance notification of the key features of the
restructured Community Express Pilot Program and SBA's plans for
implementing the restructured program, including the publication of
procedural guidance and the availability of a transition period for
lenders.
Under the restructured Community Express Pilot Program, borrower
eligibility will be more clearly defined. First, small businesses whose
principal office (as defined in 13 CFR 126.103) is located in a HUBZone
or Community Reinvestment Act (CRA) area will be eligible for Community
Express. These geographic areas are easily identifiable and searchable
through Web-based facilities available through the Internet. Second,
loans of $25,000 or less regardless of where the principal office of
the business is located will be eligible for Community Express. Third,
loans made under SBA Headquarters approved special market initiatives
designed to support local community/economic development will be
eligible for Community Express.
In addition, SBA is retaining the technical assistance (T/A)
requirement of Community Express, but giving lenders the option to use
SBA's new online Small Business Training Network (SBTN) and other SBA
T/A resources to meet the program's requirements. Lenders will continue
to be required to document in their loan file the T/A received by the
borrower.
With the availability of SBA's SBTN and SBA's other T/A resources
and with the Agency's higher 75-85 percent guaranty, the maximum
interest rate lenders may charge for Community Express loans will be
limited to the rate applicable under standard 7(a). Under standard
7(a), lenders may charge interest rates up to Prime plus 2.25 percent
for loans with maturities of less than seven years and Prime plus 2.75
percent for loans with maturities that are seven years or greater.
Lenders may charge rates 2 percent higher for loans of $25,000 or less
and 1 percent higher for loans between $25,000 and $50,000.
SBA will publish detailed procedural guidance on the program's
changes in coming weeks, which will be followed by lender support and
training through its district offices. To assist lenders in
understanding and implementing the restructured Community Express Pilot
Program and to accommodate Community Express loan applications that
lenders may already have in process, SBA will delay implementation of
the changes until October 1, 2008. But, as of October 1, 2008, all
Community Express loans must conform to the requirements and procedures
of the restructured Community Express Pilot Program.
Community Express is being extended as a pilot program until
December 31, 2009, which will allow SBA time to fully evaluate the
results of these changes.
Because Community Express is a pilot program, SBA must ensure that
it complies with Section 7(a)(25) of the Small Business Act, which
prohibits the Agency from approving under any 7(a) pilot loan program
more than 10 percent of the total number of 7(a) loans SBA approves in
any fiscal year. During the early months of Fiscal Year 2008, SBA
received loan guaranty requests under Community Express at a volume
that
[[Page 36951]]
would have exceeded this statutory limit by year end, if unchecked. As
a result, during Fiscal Year 2008, the SBA has taken steps to limit the
number of Community Express loans it will accept each month. In
addition to keeping the number of Community Express loans within the
statutory limitation, this action will help enhance competition,
diversify SBA lending, and control SBA's risk under the pilot program.
SBA will continue to closely monitor the number of Community Express
loans approved and make further adjustments as needed.
Authority: 13 CFR 120.3.
Eric R. Zarnikow,
Associate Administrator for Capital Access.
[FR Doc. E8-14846 Filed 6-27-08; 8:45 am]
BILLING CODE 8025-01-P
