Data / Federal rules / 2024-24753
ALP Express Pilot to Permanent Status
The Small Business Administration published this proposed rule in the Federal Register on October 24, 2024. Comments closed on November 25, 2024.
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What the agency says
The U.S. Small Business Administration ("SBA" or Agency) is proposing to make permanent the increased delegated authorities made available under the ALP Express Pilot for Certified Development Companies ("CDCs") approved for the Accredited Lenders Program ("ALP"). These increased delegated authorities for 504 loans of $500,000 or less ("ALP Express authority") were authorized under the Economic Aid to Hard-hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act or EAA). When these increased delegated authorities expired on September 30, 2023, SBA implemented the ALP Express Pilot in October 2023 to allow SBA to further evaluate the improved customer service levels for SBA Borrowers and the use of these increased delegated authorities by ALP CDCs. The ALP Express Pilot expires on September 30, 2025. SBA is proposing rules to make the pilot permanent and is seeking public comment to help the Agency identify which parts of the pilot have been successful and which may need further modification. SBA notified Congress of the pilot prior to OMB approval and notified Congress of the intent to convert the pilot to become a permanent part of the 504 Loan Program in September 2024.
Key facts
- Document number
- 2024-24753
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking
- Agency
- Small Business Administration
- Published
- October 24, 2024
- Comments due
- November 25, 2024
- Dates
- SBA must receive comments on this proposed rule on or before November 25, 2024.
- Regulation ID (RIN)
- 3245-AI21
- Code of Federal Regulations
- 13 CFR 120
- Topics
- Community development; Loan programs-business; Small businesses
- Pages
- 6
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Everything from the Small Business Administration · Rules on community development · Rules on loan programs-business · Rules on small businesses · Published in October 2024
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