Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2017; Maximum Portion of Guarantee Authority Available for Fiscal Year 2017; Annual Renewal Fee for Fiscal Year 2017

Resumo

This notice helps to improve applicants' awareness of the Guarantee Fee rates for Guaranteed Loans for Fiscal Year (FY) 2017, Maximum Portion of Guarantee Authority Available for FY 2017, Annual Renewal Fee for FY 2017 when applying for guaranteed loans under the Business and Industry (B&I) Guaranteed Loan Program. The Agency has the authority to charge a guarantee fee and an annual renewal fee for loans made under the B&I Guaranteed Loan Program. Pursuant to that authority, and subject to the current Continuing Resolution, the Agency is establishing an initial guarantee fee rate of 3 percent and an annual renewal fee rate of one-half of 1 percent for the B&I Guaranteed Loan Program. The initial guarantee fee is paid at the time the Loan Note Guarantee is issued. The annual renewal fee is paid by the lender to the Agency once a year. Payment of the annual renewal fee is required in order to maintain the enforceability of the guarantee.