SBA Information Notice: Reminder that 504 Loan Program Rural Initiative Pilot Program Expires September 30, 2021 (Effective September 29, 2021)

Summary

SBA Information Notice, Control No. 5000-819849, effective September 29, 2021, reminding SBA employees and Certified Development Companies (CDCs) that the 504 Loan Program Rural Initiative Pilot Program expires September 30, 2021. The 504 Rural Pilot, announced July 19, 2018 and extended on August 28, 2019, let CDCs make 504 loans for projects in rural counties in their SBA Region by waiving the Area of Operations requirements in 13 CFR 120.839. The notice is over the name of Dianna L. Seaborn, Director, Office of Financial Assistance.

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                      SBA Information Notice

TO: All SBA Employees and Certified                                                CONTROL NO.: 5000-819849
Development Companies
                                                                                   EFFECTIVE: September 29, 2021
SUBJECT: Reminder that 504 Loan Program
Rural Initiative Pilot Program Expires September
30, 2021




On July 19, 2018, SBA published a Notice in the Federal Register announcing the creation of the
504 Rural Loan Program Rural Initiative Pilot Program (504 Rural Pilot) for a two-year period
beginning July 19, 2018 and ending July 20, 2020. See 83 FR 34021. The purpose of the 504
Rural Pilot was to increase lending in rural areas by authorizing Certified Development
Companies (CDCs) to make 504 loans for projects in rural counties located in their Small
Business Administration (SBA) Region. On August 28, 2019, SBA published another Notice in
the Federal Register announcing the extension of the 504 Rural Pilot to September 30, 2021. See
84 FR 45060. For purposes of the 504 Rural Pilot, SBA waived the requirements in 13 CFR
120.839 for a CDC to make a 504 loan for a Project outside its Area of Operations (i.e., these
requirements did not apply to 504 Rural Pilot loans).

The purpose of this Notice is to remind SBA employees and CDCs that the 504 Rural Pilot
(including its waiver of the requirements in 13 CFR 120.839) expires September 30, 2021.

Questions
Questions concerning this Notice may be directed to the Lender Relations Specialist in the local
SBA Field Office.




Dianna L. Seaborn
Director
Office of Financial Assistance




PAGE 1 of 1                                                                                EXPIRES: 9/1/22
SBA Form 1353.3 (4-93) MS Word Edition; previous editions obsolete
Must be accompanied by SBA Form 58

                                   Federal Recycling Program   Printed on Recycled Paper

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File: 2021-10_Information-Notice-5000-819849_Rural-Initiative-Pilot-Program-Expired-revised-508.pdf
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SHA-256: 9cc0689b7f2bb43c17906f820df0c90aea2c359018c6d2b0138246b174f75c24
Our copy: 2021-10_Information-Notice-5000-819849_Rural-Initiative-Pilot-Program-Expired-revised-508.pdf
Original: www.sba.gov