Guaranteed Loanmaking and Servicing Regulations

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of Agriculture Rural Business-Cooperative Service 7 CFR Part 4279 [Docket No. RBS-20-BUSINESS-0016] RIN 0570-AB07 ( printed page 82225) AGENCY: Rural Business-Cooperative Service, USDA. ACTION: Final rule. SUMMARY: The Rural Business-Cooperative Service (RB-CS) (Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is issuing a final rule to amend the interim rule published on May 22, 2020. The interim rule amended the Business and Industry (B&I) Guaranteed Loan Program to allow flexibility to obligate Federal funds for guaranteed loans pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in response to the national COVID-19 Public Health Emergency. This final rule addresses public comments received on the interim rule and makes clarifying modifications identified by commenters and the Agency. DATES: Effective date: November 24, 2023. Applicability dates: This final rule applies to applications submitted under the B&I CARES Act Guaranteed Loan Program from May 22, 2020, and received no later than 11:59 p.m. Eastern Time on September 15, 2021, or until Program funding expired on September 30, 2021. FOR FURTHER INFORMATION CONTACT: Mark Brodziski, Deputy Administrator, Rural Business and Cooperative Service, Rural Development, U.S. Department of Agriculture, 1400 Independence Avenue SW, Stop Washington, DC 20250-3221; email: mark.brodziski@usda.gov ; telephone (202) 205-0903. SUPPLEMENTARY IN…