NHTSA Extends Comment Period On Lender Initiative

NHTSA has re-opened the comment period for the U.S. Small Business Administration’s (SBA) Dealer Floor Plan Pilot Initiative, which gives SBA the ability to offer 7(a) guaranties to participating lenders on floor plan lines of credit when structured under SBA requirements. Comments must now be received before Oct. 26.

On July 6, SBA published a notice in the Federal Register creating the new pilot loan initiative, which is to run through September 30, 2010. The Agency provided for a 30-day comment period when it published the Notice. This comment period closed August 5, 2009. SBA is re-opening the comment period for an additional 45 days.

Comments, identified by SBA docket number SBA-2009-0009, can be submitted by any of the following methods:

Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments.

Mail: Dealer Floor Plan Pilot Initiative Comments--Office of Financial Assistance, U.S. Small Business Administration, 409 Third Street, SW., Suite 8300, Washington, DC 20416.

Hand Delivery/Courier: Grady Hedgespeth, Director, Office of Financial Assistance, U.S. Small Business Administration, 409 Third Street, SW., Suite 8300, Washington, DC 20416.

SBA will post all comments on http://www.regulations.gov.

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