Community Advantage Pilot Program, 56262 [2011-23244]

Download as PDF 56262 Federal Register / Vol. 76, No. 176 / Monday, September 12, 2011 / Notices (B) Institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Exchange Act. Interested persons are also invited to submit views and arguments as to whether they can effectively comment on the proposed rule change prior to the date of final adoption of the Commission’s permanent rules for the registration of municipal advisors. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–MSRB–2011–14 on the subject line. information that you wish to make available publicly. All submissions should refer to File Number SR–MSRB– 2011–14 and should be submitted on or before October 3, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Elizabeth M. Murphy, Secretary. [FR Doc. 2011–23259 Filed 9–9–11; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Docket No. SBA 2011–0003] Community Advantage Pilot Program U.S. Small Business Administration (SBA). ACTION: Notice of change to Community Advantage Pilot Program. AGENCY: mstockstill on DSK4VPTVN1PROD with NOTICES On February 18, 2011, SBA published a notice and request for comments introducing the Community Advantage Pilot Program. In that notice, Paper Comments SBA modified or waived as appropriate • Send paper comments in triplicate certain regulations which otherwise to Elizabeth M. Murphy, Secretary, apply to the 7(a) loan program for the Securities and Exchange Commission, Community Advantage Pilot Program. 100 F Street, NE., Washington, DC To support SBA’s commitment to 20549–1090. expanding access to capital for small All submissions should refer to File businesses and entrepreneurs in Number SR–MSRB–2011–14. This file underserved markets, SBA is issuing number should be included on the this notice to revise certain of these subject line if e-mail is used. To help the regulatory waivers. Commission process and review your DATES: This notice is effective comments more efficiently, please use September 12, 2011. only one method. The Commission will FOR FURTHER INFORMATION CONTACT: post all comments on the Commission’s Grady B. Hedgespeth, Director, Office of Internet Web site (https://www.sec.gov/ Financial Assistance, U.S. Small rules/sro.shtml). Copies of the Business Administration, 409 Third submission, all subsequent Street, SW., Washington, DC 20416; amendments, all written statements (202) 205–7562; with respect to the proposed rule grady.hedgespeth@sba.gov. change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the MSRB’s offices. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only VerDate Mar<15>2010 16:36 Sep 09, 2011 Jkt 223001 SUMMARY: On February 18, 2011, SBA issued a notice and request for comments introducing the Community Advantage Pilot Program (‘‘CA Pilot Program’’) (76 FR 9626). Pursuant to the authority provided to SBA under 13 CFR 120.3 to suspend, modify or waive certain regulations in establishing and testing pilot loan initiatives, SBA temporarily waived certain regulations, which otherwise apply to 7(a) loans, for the CA Pilot Program. Specifically, SBA waived 13 CFR 120.420 through 120.435 because CA Lenders were prohibited from including CA loans in participant lender financings and other conveyances, including securitizations, SUPPLEMENTARY INFORMATION: participations and pledges. This prohibition, however, may restrict the ability of CA Lenders to obtain access to capital from commercial banks and warehouse lenders. Therefore, SBA is revising the February 18, 2011 notice to allow CA Lenders participating in the CA Pilot Program to pledge CA loans as collateral for certain lender financings that are approved by SBA, provided the CA Lender complies with all applicable SBA regulations. To accomplish this, SBA is no longer waiving the regulations at 13 CFR 120.420, 120.430 –120.431 (only with respect to pledges), and 120.434. While SBA is permitting CA Lenders to pledge CA loans as collateral for certain lender financings in accordance with the aforementioned regulations, SBA will not permit CA Lenders to include CA loans in securitizations, any loan sales or participations. Therefore, SBA continues to waive the regulations at 13 CFR 120.421 through 120.428, 120.432, 120.433 and 120.435, as stated in the February 18, 2011 notice. This notice does not affect a CA Lender’s ability to sell the guaranteed portions of CA loans in the secondary market, as further described in the February 18, 2011 notice. In addition to issuing this notice, SBA will modify the Community Advantage Pilot Program Loan Guaranty Agreement (SBA Form 750CA) to allow lenders to pledge CA loans as collateral for certain lender financings. SBA will make the revised SBA Form 750CA available to CA Lenders. All participants in the CA Pilot Program must execute the revised SBA Form 750CA and return it to SBA prior to pledging any CA loans. All other SBA guidelines and regulatory waivers related to the CA Pilot Program remained unchanged. SBA has provided more detailed guidance in the form of a participant guide which is available on SBA’s Web site, https://www.sba.gov. SBA may also provide additional guidance, if needed, through SBA notices, which will also be published on SBA’s Web site, https:// www.sba.gov. Questions on the CA Pilot Program may be directed to the Lender Relations Specialist in the local SBA district office. The local SBA district office may be found at https://www.sba.gov/aboutoffices-list/2. Authority: 15 U.S.C. 636(a)(25) and 13 CFR 120.3. Karen G. Mills, Administrator. [FR Doc. 2011–23244 Filed 9–9–11; 8:45 am] 12 17 PO 00000 CFR 200.30–3(a)(12). Frm 00122 Fmt 4703 Sfmt 9990 BILLING CODE 8025–01–P E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 76, Number 176 (Monday, September 12, 2011)]
[Notices]
[Page 56262]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-23244]


=======================================================================
-----------------------------------------------------------------------

SMALL BUSINESS ADMINISTRATION

[Docket No. SBA 2011-0003]


Community Advantage Pilot Program

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

ACTION: Notice of change to Community Advantage Pilot Program.

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

SUMMARY: On February 18, 2011, SBA published a notice and request for 
comments introducing the Community Advantage Pilot Program. In that 
notice, SBA modified or waived as appropriate certain regulations which 
otherwise apply to the 7(a) loan program for the Community Advantage 
Pilot Program. To support SBA's commitment to expanding access to 
capital for small businesses and entrepreneurs in underserved markets, 
SBA is issuing this notice to revise certain of these regulatory 
waivers.

DATES: This notice is effective September 12, 2011.

FOR FURTHER INFORMATION CONTACT: Grady B. Hedgespeth, Director, Office 
of Financial Assistance, U.S. Small Business Administration, 409 Third 
Street, SW., Washington, DC 20416; (202) 205-7562; 
grady.hedgespeth@sba.gov.

SUPPLEMENTARY INFORMATION: On February 18, 2011, SBA issued a notice 
and request for comments introducing the Community Advantage Pilot 
Program (``CA Pilot Program'') (76 FR 9626). Pursuant to the authority 
provided to SBA under 13 CFR 120.3 to suspend, modify or waive certain 
regulations in establishing and testing pilot loan initiatives, SBA 
temporarily waived certain regulations, which otherwise apply to 7(a) 
loans, for the CA Pilot Program. Specifically, SBA waived 13 CFR 
120.420 through 120.435 because CA Lenders were prohibited from 
including CA loans in participant lender financings and other 
conveyances, including securitizations, participations and pledges. 
This prohibition, however, may restrict the ability of CA Lenders to 
obtain access to capital from commercial banks and warehouse lenders. 
Therefore, SBA is revising the February 18, 2011 notice to allow CA 
Lenders participating in the CA Pilot Program to pledge CA loans as 
collateral for certain lender financings that are approved by SBA, 
provided the CA Lender complies with all applicable SBA regulations. To 
accomplish this, SBA is no longer waiving the regulations at 13 CFR 
120.420, 120.430 -120.431 (only with respect to pledges), and 120.434. 
While SBA is permitting CA Lenders to pledge CA loans as collateral for 
certain lender financings in accordance with the aforementioned 
regulations, SBA will not permit CA Lenders to include CA loans in 
securitizations, any loan sales or participations. Therefore, SBA 
continues to waive the regulations at 13 CFR 120.421 through 120.428, 
120.432, 120.433 and 120.435, as stated in the February 18, 2011 
notice. This notice does not affect a CA Lender's ability to sell the 
guaranteed portions of CA loans in the secondary market, as further 
described in the February 18, 2011 notice.
    In addition to issuing this notice, SBA will modify the Community 
Advantage Pilot Program Loan Guaranty Agreement (SBA Form 750CA) to 
allow lenders to pledge CA loans as collateral for certain lender 
financings. SBA will make the revised SBA Form 750CA available to CA 
Lenders. All participants in the CA Pilot Program must execute the 
revised SBA Form 750CA and return it to SBA prior to pledging any CA 
loans.
    All other SBA guidelines and regulatory waivers related to the CA 
Pilot Program remained unchanged.
    SBA has provided more detailed guidance in the form of a 
participant guide which is available on SBA's Web site, https://www.sba.gov. SBA may also provide additional guidance, if needed, 
through SBA notices, which will also be published on SBA's Web site, 
https://www.sba.gov.
    Questions on the CA Pilot Program may be directed to the Lender 
Relations Specialist in the local SBA district office. The local SBA 
district office may be found at https://www.sba.gov/about-offices-list/2.

    Authority: 15 U.S.C. 636(a)(25) and 13 CFR 120.3.

Karen G. Mills,
Administrator.
[FR Doc. 2011-23244 Filed 9-9-11; 8:45 am]
BILLING CODE 8025-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.