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