Intermediary Lending Pilot (ILP) Program, 24556 [2011-10622]

Download as PDF 24556 Federal Register / Vol. 76, No. 84 / Monday, May 2, 2011 / Notices receive direct loans of up to $1,000,000. ILP Intermediaries must use the ILP Loan funds to make loans of up to $200,000 to startup, newly established, or growing small business concerns. DATES: The application deadline is 5 p.m. on June 10, 2011. ADDRESSES: Completed applications must be sent to U.S. Small Business Administration, Office of Financial Assistance, Microenterprise Development Branch, Attention: Jody Raskind, Chief, 409 3rd Street, SW., Suite 8200, Washington, DC 20416. FOR FURTHER INFORMATION CONTACT: Jody Raskind, (202) 205–6485. SUPPLEMENTARY INFORMATION: Background: The Small Business Jobs Percent Act of 2010 (Pub. L. 111–240), enacted September 27, 2010 (the Act), includes For Physical Damage: a provision that requires SBA to Homeowners With Credit Availimplement a three year Intermediary able Elsewhere ...................... 5.125 Lending Pilot (ILP) program. Under the Homeowners Without Credit Available Elsewhere .............. 2.563 ILP program, SBA will make loans to selected nonprofit intermediaries for the Businesses With Credit Available Elsewhere ...................... 6.000 purpose of providing loans to small Businesses Without Credit businesses. Eligible intermediaries, Available Elsewhere .............. 4.000 which include private, nonprofit Non-Profit Organizations With community development corporations, Credit Available Elsewhere ... 3.250 must have at least one year of Non-Profit Organizations Withexperience making loans to startup, out Credit Available Elsewhere ..................................... 3.000 newly established, or growing small businesses. SBA will use a competitive For Economic Injury: selection process to select ILP Businesses & Small Agricultural Intermediaries to participate in the Cooperatives Without Credit Available Elsewhere .............. 4.000 program and will make ILP Loans of up Non-Profit Organizations Withto $1 million to no more than 20 in each out Credit Available Elseof fiscal years 2011, 2012, and 2013 where ..................................... 3.000 (depending on availability of funds). The number assigned to this disaster for SBA currently has funding to make ILP physical damage is 12536B and for economic Loans only in fiscal years 2011 and injury is 125370. 2012. ILP Loans have a 20 year term and an interest rate of 1%, with the first (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) payment deferred for two years. SBA collects no fees on the loans and James E. Rivera, requires no collateral. An ILP Associate Administrator for Disaster Intermediary must use the ILP Loan Assistance. proceeds to make loans of up to [FR Doc. 2011–10490 Filed 4–29–11; 8:45 am] $200,000 to startup, newly established, BILLING CODE 8025–01–P or growing small businesses. Available funding: The amount currently available for ILP Loans in SMALL BUSINESS ADMINISTRATION fiscal year 2011 is $20,000,000. SBA intends to select up to 20 applicants to Intermediary Lending Pilot (ILP) become ILP Intermediaries and to make Program loans of up to $1,000,000 to each ILP AGENCY: U.S. Small Business Intermediary. SBA reserves the right to Administration (SBA). select and fund some, all, or none of the applicants for the ILP program under ACTION: Notice of Funds Availability this NOFA. (NOFA). Application materials: Intermediaries SUMMARY: The U.S. Small Business seeking to apply for the ILP program can Administration (SBA) requests that obtain an ILP Program Application for eligible organizations submit Selection (SBA Form 2417) and the FY applications to become Intermediary 2011 ILP Program Announcement, Lending Pilot (ILP) Intermediaries. SBA which describes the evaluation criteria will select up to 20 applicants to and SBA’s review and selection participate in the ILP program and processes, at https://www.sba.gov/ Notice is hereby given that as a result of the President’s major disaster declaration on 04/22/2011, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties (Physical Damage and Economic Injury Loans): Atoka. Contiguous Counties (Economic Injury Loans Only): Oklahoma: Bryan, Choctaw, Coal, Johnston, Pittsburg, Pushmataha. The Interest Rates are: mstockstill on DSKH9S0YB1PROD with NOTICES6 SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 17:48 Apr 29, 2011 Jkt 223001 PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 content/intermediary-lending-pilot. More information about all aspects of the ILP program is available in the regulations authorizing the ILP program at 13 CFR Part 109, as published in the Federal Register on April 1, 2011 (76 FR 18007). Public meetings: SBA will hold public meetings in San Francisco on April 27, 2011 and in Washington, DC on May 5, 2011 to provide general information to potential applicants on the requirements of the ILP program and the application and selection process to become an ILP Intermediary. See the notice published in the Federal Register on April 13, 2011 (76 FR 20799). SBA will not discuss specific applications at these meetings. Application submission rules: Complete applications must be received by the Chief, Microenterprise Development Branch in the Office of Financial Assistance, or by specific individuals designated by the Chief, by the deadline date and time. Applications received after that date and time will not be considered. Due to the required irradiation of regular mail prior to its delivery to Federal offices in the Washington, DC area, organizations are encouraged to use a ‘‘next day’’ or ‘‘overnight delivery’’ method to ensure the timely receipt of materials. Each application must be submitted in two different formats: (1) Hard copy with original signatures, and (2) in Word or PDF format on a standard Compact Disc. See the instructions in the ILP Program Application for Selection (SBA Form 2417) for specific requirements. Applications sent via email or by facsimile will not be accepted. Authority: 15 U.S.C. 636(l) and 13 CFR 109.200(a). Grady B. Hedgespeth, Director, Office of Financial Assistance. [FR Doc. 2011–10622 Filed 4–29–11; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Solutions Capital I, L.P.; License No. 03/03–0247; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that Solutions Capital I, L.P., 1100 Wilson Blvd, Suite 3000, Arlington, VA 22209, a Federal Licensee under the Small Business Investment Act of 1958, as amended (‘‘the Act’’), in connection with the financing of a small concern, has sought an exemption under § 312 of the Act and § 107.730, Financings which E:\FR\FM\02MYN1.SGM 02MYN1

Agencies

[Federal Register Volume 76, Number 84 (Monday, May 2, 2011)]
[Notices]
[Page 24556]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-10622]


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 SMALL BUSINESS ADMINISTRATION


Intermediary Lending Pilot (ILP) Program

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

ACTION: Notice of Funds Availability (NOFA).

-----------------------------------------------------------------------

SUMMARY: The U.S. Small Business Administration (SBA) requests that 
eligible organizations submit applications to become Intermediary 
Lending Pilot (ILP) Intermediaries. SBA will select up to 20 applicants 
to participate in the ILP program and receive direct loans of up to 
$1,000,000. ILP Intermediaries must use the ILP Loan funds to make 
loans of up to $200,000 to startup, newly established, or growing small 
business concerns.

DATES: The application deadline is 5 p.m. on June 10, 2011.

ADDRESSES: Completed applications must be sent to U.S. Small Business 
Administration, Office of Financial Assistance, Microenterprise 
Development Branch, Attention: Jody Raskind, Chief, 409 3rd Street, 
SW., Suite 8200, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: Jody Raskind, (202) 205-6485.

SUPPLEMENTARY INFORMATION: Background: The Small Business Jobs Act of 
2010 (Pub. L. 111-240), enacted September 27, 2010 (the Act), includes 
a provision that requires SBA to implement a three year Intermediary 
Lending Pilot (ILP) program. Under the ILP program, SBA will make loans 
to selected nonprofit intermediaries for the purpose of providing loans 
to small businesses. Eligible intermediaries, which include private, 
nonprofit community development corporations, must have at least one 
year of experience making loans to startup, newly established, or 
growing small businesses. SBA will use a competitive selection process 
to select ILP Intermediaries to participate in the program and will 
make ILP Loans of up to $1 million to no more than 20 in each of fiscal 
years 2011, 2012, and 2013 (depending on availability of funds). SBA 
currently has funding to make ILP Loans only in fiscal years 2011 and 
2012. ILP Loans have a 20 year term and an interest rate of 1%, with 
the first payment deferred for two years. SBA collects no fees on the 
loans and requires no collateral. An ILP Intermediary must use the ILP 
Loan proceeds to make loans of up to $200,000 to startup, newly 
established, or growing small businesses.
    Available funding: The amount currently available for ILP Loans in 
fiscal year 2011 is $20,000,000. SBA intends to select up to 20 
applicants to become ILP Intermediaries and to make loans of up to 
$1,000,000 to each ILP Intermediary. SBA reserves the right to select 
and fund some, all, or none of the applicants for the ILP program under 
this NOFA.
    Application materials: Intermediaries seeking to apply for the ILP 
program can obtain an ILP Program Application for Selection (SBA Form 
2417) and the FY 2011 ILP Program Announcement, which describes the 
evaluation criteria and SBA's review and selection processes, at https://www.sba.gov/content/intermediary-lending-pilot. More information about 
all aspects of the ILP program is available in the regulations 
authorizing the ILP program at 13 CFR Part 109, as published in the 
Federal Register on April 1, 2011 (76 FR 18007).
    Public meetings: SBA will hold public meetings in San Francisco on 
April 27, 2011 and in Washington, DC on May 5, 2011 to provide general 
information to potential applicants on the requirements of the ILP 
program and the application and selection process to become an ILP 
Intermediary. See the notice published in the Federal Register on April 
13, 2011 (76 FR 20799). SBA will not discuss specific applications at 
these meetings.
    Application submission rules: Complete applications must be 
received by the Chief, Microenterprise Development Branch in the Office 
of Financial Assistance, or by specific individuals designated by the 
Chief, by the deadline date and time. Applications received after that 
date and time will not be considered. Due to the required irradiation 
of regular mail prior to its delivery to Federal offices in the 
Washington, DC area, organizations are encouraged to use a ``next day'' 
or ``overnight delivery'' method to ensure the timely receipt of 
materials. Each application must be submitted in two different formats: 
(1) Hard copy with original signatures, and (2) in Word or PDF format 
on a standard Compact Disc. See the instructions in the ILP Program 
Application for Selection (SBA Form 2417) for specific requirements. 
Applications sent via email or by facsimile will not be accepted.

    Authority:  15 U.S.C. 636(l) and 13 CFR 109.200(a).

Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. 2011-10622 Filed 4-29-11; 8:45 am]
BILLING CODE 8025-01-P
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