Maximum Loan Amount for Business and Industry Guaranteed Loans in Fiscal Year 2014, 76593-76594 [2013-30018]

Download as PDF 76593 Notices Federal Register Vol. 78, No. 243 Wednesday, December 18, 2013 This section of the FEDERAL REGISTER contains documents other than rules or proposed rules that are applicable to the public. Notices of hearings and investigations, committee meetings, agency decisions and rulings, delegations of authority, filing of petitions and applications and agency statements of organization and functions are examples of documents appearing in this section. DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2014; Maximum Portion of Guarantee Authority Available for Fiscal Year 2014; Annual Renewal Fee for Fiscal Year 2014 Rural Business-Cooperative Service, USDA. AGENCY: ACTION: Notice. As set forth in 7 CFR 4279.107, the Agency has the authority to charge an initial guarantee fee and an annual renewal fee for loans made under the Business and Industry (B&I) Guaranteed Loan Program. Pursuant to that authority, the Agency is establishing the renewal fee rate at onehalf of 1 percent for the B&I Guaranteed Loan Program. This rate will apply to all loans obligated in Fiscal Year (FY) 2014 that are made under the B&I program. As established in 7 CFR 4279.107(b)(1), the amount of the fee on each guaranteed loan will be determined by multiplying the fee rate by the outstanding principal loan balance as of December 31, multiplied by the percent of guarantee. The Consolidated and Further Continuing Appropriations Act of 2013 set funding levels according to those established by the 2012 Appropriations Bill. This authorized the Agency to charge a maximum of 3 percent for its guarantee fee for FY 2013. It is the Agency’s expectation that the 2014 Appropriations Bill will contain the same authorization to charge a maximum of 3 percent for its guarantee fee for FY 2014. As such, the guarantee fee for FY 2014 will be 3 percent. In the event the 2014 Appropriations Bill reduces the fee authorization below 3 percent, a subsequent notice will be published in the Federal Register amending the guarantee fee for FY 2014. ehiers on DSK2VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 15:27 Dec 17, 2013 Jkt 232001 As set forth in 7 CFR 4279.107(a) and 4279.119(b)(4), each fiscal year, the Agency shall establish a limit on the maximum portion of B&I guarantee authority available for that fiscal year that may be used to guarantee loans with a reduced guarantee fee or guaranteed loans with a guarantee percentage exceeding 80 percent. Allowing a reduced guarantee fee or exceeding the 80 percent guarantee on certain B&I guaranteed loans that meet the conditions set forth in 7 CFR 4279.107 and 4279.119 will increase the Agency’s ability to focus guarantee assistance on projects which the Agency has found particularly meritorious. For reduced guarantee fees, the borrower’s business must support value-added agriculture and result in farmers benefiting financially or must be a high impact business investment as defined in 7 CFR 4279.155(b)(5) and be located in rural communities that experience long-term population decline and job deterioration, remain persistently poor, are experiencing trauma as a result of natural disaster, or are experiencing fundamental structural changes in its economic base. For guaranteed loans exceeding 80 percent, such projects must qualify as a high-priority project (a requirement of 7 CFR 4279.119(b)), scoring at least 50 points in accordance with 7 CFR 4279.155(b). Not more than 12 percent of the Agency’s quarterly apportioned B&I guarantee authority will be reserved for loan requests with a reduced fee, and not more than 15 percent of the Agency’s quarterly apportioned guarantee authority will be reserved for guaranteed loan requests with a guarantee percentage exceeding 80 percent. Once the respective quarterly limits are reached, all additional loans for that quarter will be at the standard fee and guarantee limits. DATES: Effective Date: December 18, 2013. FOR FURTHER INFORMATION CONTACT: Jerred Brown, USDA, Rural Development, Business Programs, Business and Industry Division, STOP 3224, 1400 Independence Avenue SW., Washington, DC 20250–3224, telephone (202) 720–1970, email jerred.brown@ wdc.usda.gov. This action has been reviewed and determined not to be a rule or regulation SUPPLEMENTARY INFORMATION: PO 00000 Frm 00001 Fmt 4703 Sfmt 4703 as defined in Executive Order 12866, as amended by Executive Order 13258. Dated: November 27, 2013. Lillian E. Salerno, Administrator, Rural Business-Cooperative Service. [FR Doc. 2013–30020 Filed 12–17–13; 8:45 am] BILLING CODE 3410–XY–P DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Maximum Loan Amount for Business and Industry Guaranteed Loans in Fiscal Year 2014 Rural Business-Cooperative Service, USDA. ACTION: Notice. AGENCY: Section 4279.119(a)(1) of 7 CFR allows the Rural BusinessCooperative Service Administrator, at the Administrator’s discretion, to grant an exception to the $10 million limit for Business and Industry (B&I) guaranteed loans of $25 million or less under certain circumstances. Due to the limited program funds that are expected for Fiscal Year (FY) 2014 for the B&I Guaranteed Loan Program, the Administrator has decided to only grant exceptions to the $10 million loan limit for existing B&I guaranteed loan borrowers that meet certain criteria. Limiting the maximum loan amount will enable the Agency to provide financing assistance to as many projects as possible. In order for an existing B&I guaranteed loan borrower to be granted an exception to the $10 million loan limit, they must meet the following criteria: (1) Qualify as a high priority project (a requirement of 7 CFR 4279.119(a)(1)(i)), scoring at least 50 points in accordance with the criteria in 7 CFR 4279.155(b); (2) have an existing B&I loan that has been current for the past 12 months without such status being achieved through debt forgiveness; and (3) not be requesting a refinance of the existing B&I loan. All other requirements of 7 CFR 4279.119(a) must be met. Limiting exceptions to the $10 million limit will allow the Agency to guarantee more loans and target smaller loans/projects impacting more small businesses and will assist the Agency to conserve scarce funding dollars at a time when there is unprecedented interest in the program. SUMMARY: E:\FR\FM\18DEN1.SGM 18DEN1 76594 DATES: Federal Register / Vol. 78, No. 243 / Wednesday, December 18, 2013 / Notices Effective Date: December 18, 2013. FOR FURTHER INFORMATION CONTACT: Jerred Brown, USDA, Rural Development, Business Programs, Business and Industry Division, STOP 3224, 1400 Independence Avenue SW., Washington, DC 20250–3224, telephone (202) 720–1970, email jerred.brown@ wdc.usda.gov. SUPPLEMENTARY INFORMATION: This action has been reviewed and determined not to be a rule or regulation as defined in Executive Order 12866 as amended by Executive Order 13258. Dated: November 27, 2013. Lillian E. Salerno, Administrator, Rural Business-Cooperative Service. procedures within FTZ 109 on behalf of NAT, as described in the application and Federal Register notices, is approved, subject to the FTZ Act and the Board’s regulations, including Section 400.13, and further subject to the following restrictions and conditions: 1. All foreign status fabrics admitted to the zone for NAT’s manufacturing (production) activity must be re-exported (entry for U.S. consumption is not authorized). 2. The manufacturing (production) authority for NAT shall remain in effect for an initial period of five years from the date of approval. Signed at Washington, DC, this 9th day of December 2013. Paul Piquado, Assistant Secretary of Commerce for Enforcement and Compliance, Alternate Chairman, Foreign-Trade Zones Board. [FR Doc. 2013–30018 Filed 12–17–13; 8:45 am] BILLING CODE 3410–XY–P [FR Doc. 2013–30110 Filed 12–17–13; 8:45 am] BILLING CODE 3510–DS–P DEPARTMENT OF COMMERCE examiner’s report, and finds that the requirements of the FTZ Act and the Board’s regulations would be satisfied; Now, therefore, the Board hereby orders: The application to reorganize FTZ 146 under the ASF is approved, subject to the FTZ Act and the Board’s regulations, including Section 400.13, to the Board’s standard 2,000-acre activation limit for the zone, to a five-year ASF sunset provision for magnet sites that would terminate authority for Sites 1 and 2 if not activated by December 31, 2018, and to a three-year ASF sunset provision for usage-driven sites that would terminate authority for Site 3 if no foreign-status merchandise is admitted for a bona fide customs purpose by December 31, 2016. Signed at Washington, DC, this 6th day of December 2013. Paul Piquado, Assistant Secretary of Commerce for Enforcement and Compliance, Alternate Chairman, Foreign-Trade Zones Board. [FR Doc. 2013–30109 Filed 12–17–13; 8:45 am] Foreign-Trade Zones Board DEPARTMENT OF COMMERCE [Order No. 1925] Foreign-Trade Zones Board Approval for Restricted Manufacturing (Production) Authority; Foreign-Trade Zone 109; North American Tapes, LLC (Textile Athletic Tape); Watertown, New York [Order No. 1923] DEPARTMENT OF COMMERCE Reorganization and Expansion of Foreign-Trade Zone 146 Under Alternative Site Framework Lawrence County, Illinois Foreign-Trade Zones Board ehiers on DSK2VPTVN1PROD with NOTICES Pursuant to its authority under the ForeignTrade Zones Act of June 18, 1934, as amended (19 U.S.C. 81a–81u), the ForeignTrade Zones Board (the Board) adopts the following Order: Whereas, the Jefferson County Industrial Development Agency, grantee of Foreign-Trade Zone 109, has requested manufacturing (production) authority on behalf of North American Tapes, LLC (NAT), within FTZ 109 in Watertown, New York (FTZ Docket 48– 2011, filed 7–15–2011; amended 3–6– 2012); Whereas, notice inviting public comment has been given in the Federal Register (76 FR 43259–43260, 7–20– 2011; 77 FR 13263–13264, 3–6–2012; 77 FR 25400, 4–30–2012) and the application has been processed pursuant to the FTZ Act and the Board’s regulations; and, Whereas, the Board adopts the findings and recommendations of the examiner’s report, and finds that the requirements of the FTZ Act and the Board’s regulations would be satisfied, and that the proposal would be in the public interest if approval were subject to restriction; Now, therefore, the Board hereby orders: The application for manufacturing (production) authority under zone VerDate Mar<15>2010 15:27 Dec 17, 2013 Jkt 232001 Pursuant to its authority under the ForeignTrade Zones Act of June 18, 1934, as amended (19 U.S.C. 81a–81u), the ForeignTrade Zones Board (the Board) adopts the following Order: Whereas, the Board adopted the alternative site framework (ASF) (15 CFR 400.2(c)) as an option for the establishment or reorganization of zones; Whereas, the Bi-State Authority, grantee of Foreign-Trade Zone 146, submitted an application to the Board (FTZ Docket B–50–2013, docketed 5– 20–2013) for authority to reorganize under the ASF with a service area of Clay, Crawford, Edwards, Hamilton, Lawrence, Richland and Wayne Counties, Illinois, in and adjacent to the Evansville, Indiana Customs and Border Protection port of entry, FTZ 146’s existing Sites 1 and 2 would be categorized as magnet sites, and the grantee proposes an initial usage-driven site (Site 3); Whereas, notice inviting public comment was given in the Federal Register (78 FR 32367, 5/30/2013) and the application has been processed pursuant to the FTZ Act and the Board’s regulations; and, Whereas, the Board adopts the findings and recommendations of the PO 00000 Frm 00002 Fmt 4703 Sfmt 4703 BILLING CODE 3510–DS–P [Order No. 1922] Reorganization of Foreign-Trade Zone 52 Under Alternative Site Framework; Suffolk County, New York Pursuant to its authority under the ForeignTrade Zones Act of June 18, 1934, as amended (19 U.S.C. 81a–81u), the ForeignTrade Zones Board (the Board) adopts the following Order: Whereas, the Board adopted the alternative site framework (ASF) (15 CFR Sec. 400.2(c)) as an option for the establishment or reorganization of zones; Whereas, Suffolk County, grantee of Foreign-Trade Zone 52, submitted an application to the Board (FTZ Docket B– 44–2013, docketed 5–9–2013) for authority to reorganize under the ASF with a service area of portions of Suffolk County, New York, in and adjacent to the JFK Airport Customs and Border Protection port of entry, and FTZ 52’s existing Site 1 would be categorized as a magnet site; Whereas, notice inviting public comment was given in the Federal Register (78 FR 28576–28577, 5–15– 2013) and the application has been processed pursuant to the FTZ Act and the Board’s regulations; and, Whereas, the Board adopts the findings and recommendations of the examiner’s report, and finds that the E:\FR\FM\18DEN1.SGM 18DEN1

Agencies

[Federal Register Volume 78, Number 243 (Wednesday, December 18, 2013)]
[Notices]
[Pages 76593-76594]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-30018]


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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service


Maximum Loan Amount for Business and Industry Guaranteed Loans in 
Fiscal Year 2014

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice.

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SUMMARY: Section 4279.119(a)(1) of 7 CFR allows the Rural Business-
Cooperative Service Administrator, at the Administrator's discretion, 
to grant an exception to the $10 million limit for Business and 
Industry (B&I) guaranteed loans of $25 million or less under certain 
circumstances. Due to the limited program funds that are expected for 
Fiscal Year (FY) 2014 for the B&I Guaranteed Loan Program, the 
Administrator has decided to only grant exceptions to the $10 million 
loan limit for existing B&I guaranteed loan borrowers that meet certain 
criteria. Limiting the maximum loan amount will enable the Agency to 
provide financing assistance to as many projects as possible. In order 
for an existing B&I guaranteed loan borrower to be granted an exception 
to the $10 million loan limit, they must meet the following criteria: 
(1) Qualify as a high priority project (a requirement of 7 CFR 
4279.119(a)(1)(i)), scoring at least 50 points in accordance with the 
criteria in 7 CFR 4279.155(b); (2) have an existing B&I loan that has 
been current for the past 12 months without such status being achieved 
through debt forgiveness; and (3) not be requesting a refinance of the 
existing B&I loan. All other requirements of 7 CFR 4279.119(a) must be 
met. Limiting exceptions to the $10 million limit will allow the Agency 
to guarantee more loans and target smaller loans/projects impacting 
more small businesses and will assist the Agency to conserve scarce 
funding dollars at a time when there is unprecedented interest in the 
program.

[[Page 76594]]


DATES: Effective Date: December 18, 2013.

FOR FURTHER INFORMATION CONTACT: Jerred Brown, USDA, Rural Development, 
Business Programs, Business and Industry Division, STOP 3224, 1400 
Independence Avenue SW., Washington, DC 20250-3224, telephone (202) 
720-1970, email jerred.brown@wdc.usda.gov.

SUPPLEMENTARY INFORMATION: This action has been reviewed and determined 
not to be a rule or regulation as defined in Executive Order 12866 as 
amended by Executive Order 13258.

    Dated: November 27, 2013.
Lillian E. Salerno,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2013-30018 Filed 12-17-13; 8:45 am]
BILLING CODE 3410-XY-P