Search Results for keywords:"Certified Development Companies"

Found 3 results

Search Results: keywords:"Certified Development Companies"

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  • 2024-29706 — ALP Express Pilot to Permanent Status
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    Type:Rule
    Citation:89 FR 102697
    Reading Time:about 20 minutes

    The U.S. Small Business Administration (SBA) has decided to permanently adopt the increased delegated authorities for Certified Development Companies (CDCs) under the ALP Express Pilot. These authorities, originally set under the Economic Aid Act, allow CDCs to manage 504 loans of $500,000 or less with greater autonomy. After a successful evaluation period, the SBA is proceeding with this change following positive public feedback. This decision aims to streamline the loan process, reduce processing times, and help small businesses access capital more efficiently.

    Simple Explanation

    The Small Business Administration has decided to let certain community lenders handle small $500,000 loans on their own, which is a big change meant to help small businesses get money faster and easier. This was just a test before, but because it went so well, they're making it a permanent rule.

  • 2025-03370 — Reporting and Recordkeeping Requirements Under OMB Review
    Type:Notice
    Citation:90 FR 11085
    Reading Time:about a minute or two

    The Small Business Administration (SBA) is asking for approval from the Office of Management and Budget (OMB) to collect certain information. They have published a notice that gives the public 30 days to provide comments on this information collection, which relates to the 504 Loan Program for small businesses. Interested individuals can send in their comments by April 2, 2025. The information collected will help the SBA make sure Certified Development Companies (CDCs) are following the rules and requirements of the SBA Loan Program.

    Simple Explanation

    The Small Business Administration (SBA) wants permission to collect some information from small businesses to ensure they are following rules. They are giving people 30 days to say what they think about this plan.

  • 2021-03053 — SBA Lender Risk Rating System
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    Type:Notice
    Citation:86 FR 9562
    Reading Time:about 25 minutes

    The Small Business Administration (SBA) has announced changes to its Risk Rating System, an internal tool used to evaluate the risk of its loan operations and portfolios of 7(a) Lenders and Certified Development Companies. These updates involve improving the model that determines the loan risk ratings and updating the Lender Portal to ensure it reflects current data and economic conditions. The changes aim to enhance prediction accuracy and transparency while allowing the SBA to efficiently manage lender oversight and performance assessment. The public is invited to comment on these updates.

    Simple Explanation

    The SBA is using a new system to check how safe their business loans are, kind of like a special math formula. They're asking people to share their thoughts on these changes.