Immediate Disaster Assistance Program (IDAP), 65534 [2010-26921]
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65534
Federal Register / Vol. 75, No. 205 / Monday, October 25, 2010 / Notices
Policy, 202–205–7426
george.solomon@sba.gov Curtis B. Rich,
Management Analyst, 202–205–7030
curtis.rich@sba.gov.
The Office
of Entrepreneurial Development (ED)
needs to collect information on the
impact of training programs delivered
by both its resource partners—SCORE,
SBDC and WBCs and focused initiatives
like E200 using a uniform methodology
in order to provide generally accepted
outcome measures and to report to
Congress and the President on these
programs. Respondents are small
business owners and potential small
business owners from throughout the
U.S. and the territories.
Title: ‘‘Impact of Training Programs.’’
Description of Respondents: Small
business owners and potential small
business owners from throughout the
U.S. and the territories.
Form Number: N/A.
Annual Responses: 600,000.
Annual Burden: 100,000.
SUPPLEMENTARY INFORMATION:
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. 2010–26790 Filed 10–22–10; 8:45 am]
BILLING CODE P
SMALL BUSINESS ADMINISTRATION
Immediate Disaster Assistance
Program (IDAP)
U.S. Small Business
Administration (SBA).
ACTION: Notice of IDAP loan program
interest rates.
AGENCY:
This Notice announces the
maximum allowable rates for Immediate
Disaster Assistance Program (IDAP)
loans.
SUMMARY:
Effective Date: The interest rate
is effective October 25, 2010.
FOR FURTHER INFORMATION CONTACT:
Grady Hedgespeth, Director of Financial
Assistance, at (202) 205–7562 or
Grady.Hedgespeth@sba.gov.
DATES:
The Food,
Conservation, and Energy Act of 2008
(the Farm Act), Public Law 110–246,
enacted June 18, 2008, amended the
Small Business Act (the Act) and
authorized changes to make SBA’s
disaster assistance program more
accessible to disaster victims. One
provision included in the Farm Act
requires SBA to implement an
Immediate Disaster Assistance Program
(IDAP) to provide interim loans to
businesses affected by a disaster that
meet the basic eligibility standards for a
disaster loan authorized under section
emcdonald on DSK2BSOYB1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
VerDate Mar<15>2010
16:05 Oct 22, 2010
Jkt 223001
7(b) of the Act. The provision authorizes
SBA to provide an 85 percent guarantee
on loans made by participating lenders
for up to $25,000. The intent of the
IDAP loan program is to provide bridge
financing as quickly and as prudently as
possible following a declared disaster
while the business is awaiting approval
for permanent financing through a
direct disaster loan from SBA.
Agency regulations implementing the
IDAP loan program state that the
maximum interest rates an IDAP Lender
may charge an IDAP Borrower during
the Initial Period and Term Period will
be published in the Federal Register
from time to time. 13 CFR 123.703(e).
This notice establishes the maximum
interest rates for IDAP loans as follows:
Initial Period: The maximum interest
rate an IDAP Lender may charge an
IDAP Borrower during the Initial Period
(as defined in 13 CFR 123.700(b)(1)) is
the prime rate in effect on the first
business day of the month in which
SBA receives the IDAP loan application,
as printed in a national financial
newspaper published each business
day, plus one percentage point. The
interest rate must remain fixed while
the IDAP loan is in the Initial Period.
Term Period: In the event that the
IDAP loan enters the Term Period (as
defined in 13 CFR 123.700(b)(17)), the
interest rate may remain fixed at a rate
not to exceed the maximum rate for the
Initial Period as described above or may
begin to fluctuate at a variable rate that
is not more than the prime rate in effect
on the first business day of the month
in which the Term Period begins, as
printed in a national financial
newspaper published each business
day, plus one percentage point. If the
rate during the Term Period is a variable
rate, the lender must specify in the Note
the frequency at which the interest rate
adjustment will occur (the ‘‘adjustment
period’’), and such adjustments may not
occur more frequently than monthly.
The lender shall adjust the interest rate
on the first calendar day of each
adjustment period using the prime rate
in effect on the first business day of the
adjustment period, plus one percentage
point. The change in interest rate is
effective on that day whether or not the
lender gives the borrower notice of the
change. The adjustment period may not
be changed without the written
agreement of the borrower.
Any future change to interest rates on
IDAP Loans will be published in the
Federal Register.
PO 00000
Frm 00089
Fmt 4703
Sfmt 4703
Authority: 15 U.S.C. 657n and 13 CFR
§ 123.703(e).
Eric R. Zarnikow,
Associate Administrator, Office of Capital
Access.
[FR Doc. 2010–26921 Filed 10–22–10; 8:45 am]
BILLING CODE 8025–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No. IC–
29464; 812–13808]
Citigroup Global Markets Inc., et al.;
Notice of Application and Temporary
Order
October 19, 2010.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Temporary order and notice of
application for a permanent order under
section 9(c) of the Investment Company
Act of 1940 (‘‘Act’’).
AGENCY:
Summary of Application:
Applicants have received a temporary
order exempting them from section 9(a)
of the Act, with respect to an injunction
entered against Citigroup Inc.
(‘‘Citigroup’’) on October 19, 2010 by the
United States District Court for the
District of Columbia (the ‘‘Injunction’’),
until the Commission takes final action
on an application for a permanent order.
Applicants also have applied for a
permanent order.
Applicants: Citigroup Global Markets
Inc. (‘‘CGMI’’), CEFOF GP I Corp.
(‘‘CEFOF’’), CELFOF GP Corp.
(‘‘CELFOF’’), Citibank, N.A. (‘‘Citibank’’),
Citigroup Alternative Investments LLC
(‘‘Citigroup Alternative’’), Consulting
Group Advisory Services LLC
(‘‘Advisory Services’’), Citigroup Capital
Partners I GP I Corp. (‘‘CCP I’’), and
Citigroup Capital Partners I GP II Corp.
(‘‘CCP II’’) (collectively, ‘‘Applicants’’).1
DATES: Filing Date: The application was
filed on July 29, 2010 and amended on
July 30, 2010, and amended on October
19, 2010.
Hearing or Notification of Hearing: An
order granting the application will be
issued unless the Commission orders a
hearing. Interested persons may request
a hearing by writing to the
Commission’s Secretary and serving
Applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
SUMMARY:
1 Applicants request that any relief granted
pursuant to the application also apply to any other
company of which Citigroup is or hereafter may
become an affiliated person within the meaning of
section 2(a)(3) of the Act (together with the
Applicants, the ‘‘Covered Persons’’).
E:\FR\FM\25OCN1.SGM
25OCN1
]]>Agencies
[Federal Register Volume 75, Number 205 (Monday, October 25, 2010)]
[Notices]
[Page 65534]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-26921]
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Immediate Disaster Assistance Program (IDAP)
AGENCY: U.S. Small Business Administration (SBA).
ACTION: Notice of IDAP loan program interest rates.
-----------------------------------------------------------------------
SUMMARY: This Notice announces the maximum allowable rates for
Immediate Disaster Assistance Program (IDAP) loans.
DATES: Effective Date: The interest rate is effective October 25, 2010.
FOR FURTHER INFORMATION CONTACT: Grady Hedgespeth, Director of
Financial Assistance, at (202) 205-7562 or Grady.Hedgespeth@sba.gov.
SUPPLEMENTARY INFORMATION: The Food, Conservation, and Energy Act of
2008 (the Farm Act), Public Law 110-246, enacted June 18, 2008, amended
the Small Business Act (the Act) and authorized changes to make SBA's
disaster assistance program more accessible to disaster victims. One
provision included in the Farm Act requires SBA to implement an
Immediate Disaster Assistance Program (IDAP) to provide interim loans
to businesses affected by a disaster that meet the basic eligibility
standards for a disaster loan authorized under section 7(b) of the Act.
The provision authorizes SBA to provide an 85 percent guarantee on
loans made by participating lenders for up to $25,000. The intent of
the IDAP loan program is to provide bridge financing as quickly and as
prudently as possible following a declared disaster while the business
is awaiting approval for permanent financing through a direct disaster
loan from SBA.
Agency regulations implementing the IDAP loan program state that
the maximum interest rates an IDAP Lender may charge an IDAP Borrower
during the Initial Period and Term Period will be published in the
Federal Register from time to time. 13 CFR 123.703(e). This notice
establishes the maximum interest rates for IDAP loans as follows:
Initial Period: The maximum interest rate an IDAP Lender may charge
an IDAP Borrower during the Initial Period (as defined in 13 CFR
123.700(b)(1)) is the prime rate in effect on the first business day of
the month in which SBA receives the IDAP loan application, as printed
in a national financial newspaper published each business day, plus one
percentage point. The interest rate must remain fixed while the IDAP
loan is in the Initial Period.
Term Period: In the event that the IDAP loan enters the Term Period
(as defined in 13 CFR 123.700(b)(17)), the interest rate may remain
fixed at a rate not to exceed the maximum rate for the Initial Period
as described above or may begin to fluctuate at a variable rate that is
not more than the prime rate in effect on the first business day of the
month in which the Term Period begins, as printed in a national
financial newspaper published each business day, plus one percentage
point. If the rate during the Term Period is a variable rate, the
lender must specify in the Note the frequency at which the interest
rate adjustment will occur (the ``adjustment period''), and such
adjustments may not occur more frequently than monthly. The lender
shall adjust the interest rate on the first calendar day of each
adjustment period using the prime rate in effect on the first business
day of the adjustment period, plus one percentage point. The change in
interest rate is effective on that day whether or not the lender gives
the borrower notice of the change. The adjustment period may not be
changed without the written agreement of the borrower.
Any future change to interest rates on IDAP Loans will be published
in the Federal Register.
Authority: 15 U.S.C. 657n and 13 CFR Sec. 123.703(e).
Eric R. Zarnikow,
Associate Administrator, Office of Capital Access.
[FR Doc. 2010-26921 Filed 10-22-10; 8:45 am]
BILLING CODE 8025-01-P
