Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2015; Maximum Portion of Guarantee Authority Available for Fiscal Year 2015; Annual Renewal Fee for Fiscal Year 2015

Resumo

As set forth in 7 CFR 4279.107, the Agency has the authority to charge an initial guarantee fee and an annual renewal fee for loans made under the Business and Industry (B&I) Guaranteed Loan Program. Pursuant to that authority, the Agency is establishing the renewal fee rate at one-half of 1 percent for the B&I Guaranteed Loan Program. This rate will apply to all loans obligated in Fiscal Year (FY) 2015 that are made under the B&I program. As established in 7 CFR 4279.107(b)(1), the amount of the fee on each guaranteed loan will be determined by multiplying the fee rate by the outstanding principal loan balance as of December 31, multiplied by the percent of guarantee. The Agency was authorized by the 2012 Appropriations Bill, and subsequent Appropriation Acts, to charge a maximum of 3 percent for its guarantee fee for FYs 2012, 2013, and 2014. The 2015 Appropriations Act does contain a provision to charge a maximum of 3 percent for its guarantee fee for FY 2015. As such, the guarantee fee for FY 2015 will be 3 percent. As set forth in 7 CFR 4279.107(a) and 4279.119(b)(4), each fiscal year, the Agency shall establish a limit on the maximum portion of B&I guarantee authority availab