Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2017; Maximum Portion of Guarantee Authority Available for Fiscal Year 2017; Annual Renewal Fee for Fiscal Year 2017, 20457 [2017-08790]

Download as PDF Federal Register / Vol. 82, No. 83 / Tuesday, May 2, 2017 / Notices Total Burden Hours: 72,900. Ruth Brown, Departmental Information Collection Clearance Officer. [FR Doc. 2017–08788 Filed 5–1–17; 8:45 am] BILLING CODE 3410–09–P DEPARTMENT OF AGRICULTURE Notice of Request for Extension or Renewal of a Currently Approved Information Collection; Correction Department of Agriculture. Notice; correction. AGENCY: ACTION: The Department of Agriculture published a document in the Federal Register of April 24, 2017, to request a renewal to a currently approved information collection for race, ethnicity, and gender along with comments. The document contained the wrong OMB number. FOR FURTHER INFORMATION CONTACT: Anna G. Stroman (202) 205–5953. SUMMARY: Correction In the Federal Register of April 24, 2017, in FR Doc 2017–08151, on page 18889, under the SUPPLEMENTARY INFORMATION, correct the OMB No. to read: SUPPLEMENTARY INFORMATION: OMB No. 0503–0019. Dated: April 26, 2017. Winona Lake Scott, Acting Deputy Assistant Secretary for Civil Rights. [FR Doc. 2017–08847 Filed 5–1–17; 8:45 am] BILLING CODE P DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2017; Maximum Portion of Guarantee Authority Available for Fiscal Year 2017; Annual Renewal Fee for Fiscal Year 2017 Rural Business-Cooperative Service, USDA. ACTION: Notice. AGENCY: This notice helps to improve applicants’ awareness of the Guarantee Fee rates for Guaranteed Loans for Fiscal Year (FY) 2017, Maximum Portion of Guarantee Authority Available for FY 2017, Annual Renewal Fee for FY 2017 when applying for guaranteed loans under the Business and Industry (B&I) Guaranteed Loan Program. sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 16:36 May 01, 2017 Jkt 241001 The Agency has the authority to charge a guarantee fee and an annual renewal fee for loans made under the B&I Guaranteed Loan Program. Pursuant to that authority, and subject to the current Continuing Resolution, the Agency is establishing an initial guarantee fee rate of 3 percent and an annual renewal fee rate of one-half of 1 percent for the B&I Guaranteed Loan Program. The initial guarantee fee is paid at the time the Loan Note Guarantee is issued. The annual renewal fee is paid by the lender to the Agency once a year. Payment of the annual renewal fee is required in order to maintain the enforceability of the guarantee. DATES: Effective May 2, 2017. FOR FURTHER INFORMATION CONTACT: Nichelle Daniels, USDA, Rural Development, Business Programs, Business and Industry Division, STOP 3224, 1400 Independence Avenue SW., Washington, DC 20250–3224, telephone (202) 720–0786, email nichelle.daniels@ wdc.usda.gov. SUPPLEMENTARY INFORMATION: As set forth in 7 CFR 4279.120, the Agency has the authority to charge an initial guarantee fee and an annual renewal fee for loans made under the B&I Guaranteed Loan Program. Pursuant to that authority, and subject to the current continuing resolution, the Agency is establishing an initial guarantee fee rate of 3 percent and an annual renewal fee rate of one-half of 1 percent for the B&I Guaranteed Loan Program. Unless precluded by a subsequent FY 2017 appropriation, these rates will apply to all loans obligated in FY 2017 that are made under the B&I Guaranteed Loan Program. As established in 7 CFR 4279.120(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 percentage of guarantee. As set forth in 7 CFR 4279.120(a) and 4279.119(b), 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 an increased percentage of guarantee. The Agency has established that not more than 12 percent of the Agency’s apportioned B&I guarantee authority will be reserved for loan guarantee requests with a reduced fee, and not more than 15 percent of the Agency’s apportioned B&I guarantee authority will be reserved for guaranteed loan requests with an increased percentage of guarantee. Once PO 00000 Frm 00002 Fmt 4703 Sfmt 4703 20457 the respective limits are reached, all additional loans will be at the standard fee and guarantee limits. Allowing a reduced guarantee fee or increased percentage of guarantee on certain B&I guaranteed loans that meet the conditions set forth in 7 CFR 4279.120 and 4279.119 will increase the Agency’s ability to focus guarantee assistance on projects that the Agency has found particularly meritorious. Subject to annual limits set by the Agency in this notice, the Agency may charge a reduced guarantee fee if requested by the lender for loans of $5 million or less when the borrower’s business supports value-added agriculture and results in farmers benefitting financially, promotes access to healthy foods, or is a high impact business development investment located in a rural community that is experiencing long-term population decline; has remained in poverty for the last 30 years; is experiencing trauma as a result of natural disaster; is located in a city or county with an unemployment rate 125 percent of the statewide rate or greater; or is located within the boundaries of a federally recognized Indian tribe’s reservation or within tribal trust lands or within land owned by an Alaska Native Regional or Village Corporation as defined by the Alaska Native Claims Settlement Act. Subject to annual limits set by the Agency in this notice, the Agency may allow increased percentages of guarantee for highpriority projects or loans where the lender needs the increased percentage of guarantee due to its legal or regulatory lending limit. 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: April 18, 2017. Chadwick O. Parker, Acting Administrator, Rural BusinessCooperative Service. [FR Doc. 2017–08790 Filed 5–1–17; 8:45 am] BILLING CODE 3410–XY–P COMMISSION ON CIVIL RIGHTS Agenda and Notice of Public Meeting of the Colorado Advisory Committee Commission on Civil Rights. Announcement of meetings. AGENCY: ACTION: Notice is hereby given, pursuant to the provisions of the rules and regulations of the U.S. Commission on Civil Rights (Commission), and the Federal Advisory Committee Act (FACA), that a planning meeting of the Colorado Advisory Committee to the SUMMARY: E:\FR\FM\02MYN1.SGM 02MYN1

Agencies

[Federal Register Volume 82, Number 83 (Tuesday, May 2, 2017)]
[Notices]
[Page 20457]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-08790]


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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service


Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2017; 
Maximum Portion of Guarantee Authority Available for Fiscal Year 2017; 
Annual Renewal Fee for Fiscal Year 2017

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice.

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SUMMARY: This notice helps to improve applicants' awareness of the 
Guarantee Fee rates for Guaranteed Loans for Fiscal Year (FY) 2017, 
Maximum Portion of Guarantee Authority Available for FY 2017, Annual 
Renewal Fee for FY 2017 when applying for guaranteed loans under the 
Business and Industry (B&I) Guaranteed Loan Program.
    The Agency has the authority to charge a guarantee fee and an 
annual renewal fee for loans made under the B&I Guaranteed Loan 
Program. Pursuant to that authority, and subject to the current 
Continuing Resolution, the Agency is establishing an initial guarantee 
fee rate of 3 percent and an annual renewal fee rate of one-half of 1 
percent for the B&I Guaranteed Loan Program.
    The initial guarantee fee is paid at the time the Loan Note 
Guarantee is issued. The annual renewal fee is paid by the lender to 
the Agency once a year. Payment of the annual renewal fee is required 
in order to maintain the enforceability of the guarantee.

DATES: Effective May 2, 2017.

FOR FURTHER INFORMATION CONTACT: Nichelle Daniels, USDA, Rural 
Development, Business Programs, Business and Industry Division, STOP 
3224, 1400 Independence Avenue SW., Washington, DC 20250-3224, 
telephone (202) 720-0786, email nichelle.daniels@wdc.usda.gov.

SUPPLEMENTARY INFORMATION: As set forth in 7 CFR 4279.120, the Agency 
has the authority to charge an initial guarantee fee and an annual 
renewal fee for loans made under the B&I Guaranteed Loan Program. 
Pursuant to that authority, and subject to the current continuing 
resolution, the Agency is establishing an initial guarantee fee rate of 
3 percent and an annual renewal fee rate of one-half of 1 percent for 
the B&I Guaranteed Loan Program. Unless precluded by a subsequent FY 
2017 appropriation, these rates will apply to all loans obligated in FY 
2017 that are made under the B&I Guaranteed Loan Program. As 
established in 7 CFR 4279.120(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 
percentage of guarantee.
    As set forth in 7 CFR 4279.120(a) and 4279.119(b), 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 
an increased percentage of guarantee. The Agency has established that 
not more than 12 percent of the Agency's apportioned B&I guarantee 
authority will be reserved for loan guarantee requests with a reduced 
fee, and not more than 15 percent of the Agency's apportioned B&I 
guarantee authority will be reserved for guaranteed loan requests with 
an increased percentage of guarantee. Once the respective limits are 
reached, all additional loans will be at the standard fee and guarantee 
limits.
    Allowing a reduced guarantee fee or increased percentage of 
guarantee on certain B&I guaranteed loans that meet the conditions set 
forth in 7 CFR 4279.120 and 4279.119 will increase the Agency's ability 
to focus guarantee assistance on projects that the Agency has found 
particularly meritorious. Subject to annual limits set by the Agency in 
this notice, the Agency may charge a reduced guarantee fee if requested 
by the lender for loans of $5 million or less when the borrower's 
business supports value-added agriculture and results in farmers 
benefitting financially, promotes access to healthy foods, or is a high 
impact business development investment located in a rural community 
that is experiencing long-term population decline; has remained in 
poverty for the last 30 years; is experiencing trauma as a result of 
natural disaster; is located in a city or county with an unemployment 
rate 125 percent of the statewide rate or greater; or is located within 
the boundaries of a federally recognized Indian tribe's reservation or 
within tribal trust lands or within land owned by an Alaska Native 
Regional or Village Corporation as defined by the Alaska Native Claims 
Settlement Act. Subject to annual limits set by the Agency in this 
notice, the Agency may allow increased percentages of guarantee for 
high-priority projects or loans where the lender needs the increased 
percentage of guarantee due to its legal or regulatory lending limit.
    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: April 18, 2017.
Chadwick O. Parker,
Acting Administrator, Rural Business-Cooperative Service.
[FR Doc. 2017-08790 Filed 5-1-17; 8:45 am]
BILLING CODE 3410-XY-P