North Dakota Disaster Number ND-00024, 60960 [2011-25185]

Download as PDF 60960 Federal Register / Vol. 76, No. 190 / Friday, September 30, 2011 / Notices Percent For Economic Injury: Non-Profit Organizations without Credit Available Elsewhere .......................... Gulf Opportunity Pilot Loan Program (GO Loan Pilot) 3.000 The number assigned to this disaster for physical damage is 128485 and for economic injury is 128495. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2011–25183 Filed 9–29–11; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12653 and #12654] North Dakota Disaster Number ND– 00024 U.S. Small Business Administration. ACTION: Amendment 6. AGENCY: This is an amendment of the Presidential declaration of a major disaster for the State of North Dakota (FEMA—1981—DR), dated 06/24/2011. Incident: Flooding. Incident Period: 02/14/2011 through 07/20/2011. Effective Date: 09/22/2011. Physical Loan Application Deadline Date: 11/21/2011. EIDL LOAN Application Deadline Date: 03/21/2012. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for the State of North Dakota, dated 06/24/2011 is hereby amended to extend the deadline for filing applications for physical damages as a result of this disaster to 11/21/2011. All other information in the original declaration remains unchanged. mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2011–25185 Filed 9–29–11; 8:45 am] BILLING CODE 8025–01–P VerDate Mar<15>2010 17:19 Sep 29, 2011 SMALL BUSINESS ADMINISTRATION Jkt 223001 U.S. Small Business Administration (SBA). ACTION: Notice of extension of waiver of regulatory provisions. AGENCY: This notice announces the extension of SBA’s GO Loan Pilot, with modifications, until December 31, 2013. Due to the scope and magnitude of the devastation to Presidentially-declared disaster areas resulting from Hurricanes Katrina and Rita, as well as the further devastation by the April 2011 severe storms, tornadoes and flooding along the Mississippi River and its tributaries, and most recently Tropical Storm Lee, which together have had a long-term negative impact on the recovery of small businesses in the region, the Agency is extending its full guaranty and streamlined and centralized loan processing available through the GO Loan Pilot to small businesses in the eligible parishes/counties through December 31, 2013. DATES: The waiver of regulatory provisions published in the Federal Register on November 17, 2005, is extended with modifications until December 31, 2013. FOR FURTHER INFORMATION CONTACT: W. Sloan Coleman, Office of Financial Assistance, U.S. Small Business Administration, 409 Third Street, SW., Washington, DC 20416; Telephone (202) 205–7737; w.coleman@sba.gov. SUPPLEMENTARY INFORMATION: On November 8, 2005, SBA initiated the GO Loan Pilot program, which was designed to provide expedited small business financial assistance to businesses located in those communities severely impacted by Hurricanes Katrina and Rita. Under this unique initiative, SBA provides its full (85%) guaranty and streamlined and centralized loan processing to all eligible lenders that agree to make expedited SBA 7(a) loans available to small businesses located in, locating to or re-locating in the parishes/counties that have been Presidentially-declared as disaster areas resulting from Hurricanes Katrina and Rita, plus any contiguous parishes/counties. To maximize the effectiveness of the GO Loan Pilot, on November 17, 2005, SBA published a notice in the Federal Register waiving for the GO Loan Pilot certain Agency regulations for the 7(a) Business Loan Program. (70 FR 69645). The pilot, including the waiver of regulations, was designed as a temporary program and was originally SUMMARY: PO 00000 Frm 00162 Fmt 4703 Sfmt 4703 scheduled to expire on September 30, 2006, but was extended to September 30, 2011. The Agency believes, however, that there is a continuing, substantial need for the specific SBA assistance provided by this pilot in the affected areas. SBA, therefore, is extending the GO Loan Pilot, but with a modification to the previous regulatory waiver published in the Federal Register on November 17, 2005, as described more fully below. Under SBA’s regulations at 13 CFR120.102, an applicant for an SBAguaranteed loan through the 7(a) program must show that the desired funds are not available from the personal resources of any owner of 20 percent or more of the equity of the applicant. If such personal resources are readily available, SBA requires that those resources above a certain amount, which varies with the size of the loan, must be injected into the applicant firm’s financing package to reduce the amount of SBA’s funding. As stated in the Federal Register notice published on November 17, 2005, this regulation was waived ‘‘in recognition of the scope and magnitude of the destruction suffered by these communities as a result of Hurricanes Katrina and Rita and the need for immediate reconstruction. SBA believes that, due to other disaster-related exigencies, prospective borrowers under the GO Loan Pilot will be unable to expediently meet SBA’s requirement that personal resources above a certain amount must be injected into the firm’s capitalization.’’ Because the devastation caused by Hurricanes Katrina and Rita occurred more than six years ago, SBA no longer believes it is necessary to waive this regulation for loans under the GO Loan Pilot and, therefore, is not extending the waiver of 13 CFR 120.102. SBA is extending the waiver of all other regulatory provisions published in the Federal Register on November 17, 2005 as part of the GO Loan Pilot program. Specifically, SBA is continuing to waive 13 CFR 120.213(a), 120.214(a) through (e), and 120.215 in order to allow GO Loan Pilot Lenders to charge the interest rates applicable to the SBA Express Program as set forth in SOP 50 10 5, Subpart B, Chapter 3. (SOP 50 10 5 may be found on SBA’s Web site at https://www.sba.gov/for-lenders, then click on Standard Operating Procedures for a listing of SOPs.) SBA is also continuing to waive 13 CFR § 120.222 in order to permit GO Loan Pilot lenders to charge the same fees on GO Loans as they charge on their similarly sized nonSBA guaranteed commercial loans. When compared to other similarlysized Section 7(a) loans, the GO Loan E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

[Federal Register Volume 76, Number 190 (Friday, September 30, 2011)]
[Notices]
[Page 60960]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-25185]


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

 SMALL BUSINESS ADMINISTRATION

[Disaster Declaration 12653 and 12654]


North Dakota Disaster Number ND-00024

AGENCY: U.S. Small Business Administration.

ACTION: Amendment 6.

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

SUMMARY: This is an amendment of the Presidential declaration of a 
major disaster for the State of North Dakota (FEMA--1981--DR), dated 
06/24/2011.
    Incident: Flooding.
    Incident Period: 02/14/2011 through 07/20/2011.
    Effective Date: 09/22/2011.
    Physical Loan Application Deadline Date: 11/21/2011.
    EIDL LOAN Application Deadline Date: 03/21/2012.

ADDRESSES: Submit completed loan applications to: U.S. Small Business 
Administration, Processing and Disbursement Center, 14925 Kingsport 
Road, Fort Worth, TX 76155.

FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster 
Assistance, U.S. Small Business Administration, 409 3rd Street, SW., 
Suite 6050, Washington, DC 20416.

SUPPLEMENTARY INFORMATION: The notice of the President's major disaster 
declaration for the State of North Dakota, dated 06/24/2011 is hereby 
amended to extend the deadline for filing applications for physical 
damages as a result of this disaster to 11/21/2011.
    All other information in the original declaration remains 
unchanged.

(Catalog of Federal Domestic Assistance Numbers 59002 and 59008)

James E. Rivera,
Associate Administrator for Disaster Assistance.
[FR Doc. 2011-25185 Filed 9-29-11; 8:45 am]
BILLING CODE 8025-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.