Federal Register / Vol. 62, No. 163 / Friday, August 22, 1997 / Notices 44741

Dated: August 14, 1997.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 97–22327 Filed 8–21–97; 8:45 am]

BILLING CODE 8025–01–M

SMALL BUSINESS ADMINISTRATION

Adoption of FA$TRAK Pilot Loan

Program; Meeting

AGENCY: Small Business Administration.

ACTION: Public meeting on Adoption

FA$TRAK Pilot Loan Program for SBA

Loans made under Section 7(a) of the

Small Business Act.

SUMMARY: On March 6, 1995, the SBA

published in the Federal Register a

notice establishing the FA$TRAK loan

program as a pilot program to test the

implications of allowing selected SBA

lenders to use their own documentation

and procedures to approve SBA

guaranteed loans under $100,000. In

return, participating lenders received a

maximum SBA guaranty of 50 percent.

On September 9, 1997, the SBA will

hold a public meeting as part of its

evaluation of whether to adopt

FA$TRAK as a permanent SBA program

and extend the program to additional

qualified lenders.

DATES: September 9, 1997, 1:30 p.m. to

4:30 p.m.

LOCATION: Eisenhower Conference

Room, U.S. Small Business

Administration, 409 3rd Street, SW.,

Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT:

Charles Thomas, Chief Pilot Operations,

Office of Financial Assistance, (202)

205–6656.

SUPPLEMENTARY INFORMATION:

FA$TRAK, which is part of the

Preferred Lenders Program, was

conceived to streamline the process by

which a lender receives a guaranty from

the SBA. The program was designed to

utilize, to the maximum extent possible,

the existing documentation and

procedures of participating lenders.

Under the program, lenders are

permitted to use their own application

forms, internal credit memoranda,

notes, collateral documents, servicing

documentation, and liquidation

documentation. The SBA made every

effort to minimize the use of

government mandated forms under this

program.

Lenders participating in the pilot

were authorized to attach an SBA

guaranty to an approved loan without

having to submit the loan to an SBA

field office for a credit analysis or

review. Loans were instead forwarded to

a centralized SBA processing center

(Sacramento) for the assignment of an

SBA loan number and a determination

of borrower eligibility.

In return for this authority and

autonomy, lenders agreed to limit the

maximum loan amount to $100,000,

accept a maximum guaranty of 50

percent, and waive payment on

defaulted loans until after the lender has

completed liquidation and SBA has

reviewed the underlying documentation

supporting the loan.

Approximately 18 banks or bank

holding companies have participated in

the pilot, although together with their

affiliates they number about 60 lenders.

From its inception through July 18,

1997, 5,824 FA$TRAK loans for $243

million were approved. A preliminary

review of the FA$TRAK portfolio has

been completed and no significant

problems or adverse trends have been

revealed in either the pilot’s operation

or the loss rates associated with the

program. In addition, onsite reviews of

several of the leading FA$TRAK lenders

did not indicate any apparent or

systemic problems.

In considering what action we should

take regarding the FA$TRAK pilot, the

Agency will look at a variety of issues

including, but not limited to, the

following: Should—

(1) The program be adopted as a

permanent SBA loan program? (2) the

program be limited to SBA ‘‘Preferred

Lenders’’? (3) if not, what criteria

should be used to qualify FA$TRAK

lenders? (4) participants be encouraged/

required to adopt electronic processing

of FA$TRAK loan applications via the

Internet? (5) lines of credit loans

revolve, for example, for a maximum of

five years and then be ‘‘termed out’’ for

as much as an additional five years? (6)

the maximum loan amount under the

program be increased? (7) interest rates

for loans made under the program be

subject to different limitations? (8)

collateral be required for FA$TRAK

loans? and, (9) other regular 7(a)

policies be changed for FA$TRAK.

Hearing

To ensure the widest possible public

participation, the SBA will hold a

public hearing on this proposal in

Washington, DC at the Small Business

Administration at 409 3rd Street, SW.,

Washington, DC 20416. The meeting

will be held on September 9, 1997, from

1:30 p.m. to 4:30 p.m. in the Eisenhower

Conference Room.

Interested parties will be given a

reasonable time for an oral presentation

and may submit written statements of

their oral presentation in advance. If

you wish to make a presentation, please

contact Ms. Lula M. Gardner at (202)

205–6485 at least five days before the

hearing. If a large number of

participants desires to make statements,

a time limitation on each presentation

will be imposed.

Members of the hearing panel may ask

questions of the speaker, but speakers

will not be allowed to question each

other. Please submit written questions

in advance to the Chair. If the Chair

determines them to be relevant, the

Chair will direct them to the appropriate

panel member.

Jane Palsgrove Butler,

Acting Associate Administrator for Financial

Assistance.

[FR Doc. 97–22331 Filed 8–21–97; 8:45 am]

BILLING CODE 8025–01–M

SMALL BUSINESS ADMINISTRATION

Region V Wisconsin State Advisory

Council Meeting; Public Meeting

The U.S. Small Business

Administration Wisconsin State

Advisory Council, located in the

geographical area of Milwaukee,

Wisconsin, will hold a public meeting

from 12:00 p.m. to 1:00 p.m., August 25,

1997, at Metro Milwaukee Area

Chamber (MMAC), Association of

Commerce Building, 756 North

Milwaukee Street, Fourth Floor—The

Milwaukee Room, Milwaukee,

Wisconsin, to discuss such matters as

may be presented by members, staff of

the U.S. Small Business Administration,

or others present.

For further information, write or call

Kimberly R. West, U.S. Small Business

Administration, 310 W. Wisconsin Ave.,

Room 400, Milwaukee, Wisconsin

53029, telephone (414) 297–1092.

Dated: August 15, 1997.

Eugene Carlson,

Associate Administrator, Office of

Communications & Public Liaison.

[FR Doc. 97–22328 Filed 8–21–97; 8:45 am]

BILLING CODE 8025–01–P

DEPARTMENT OF STATE

[Public Notice 2587]

Office of Foreign Missions (OFM);

Information Collection Under Review

Office of Management and Budget

(OMB) approval is being sought for the

information collection listed below. The

purpose of this notice is to allow 60

days for public comments from the date

listed at the top of this page in the

Federal Register. This process is

conducted in accordance with 5 Code of

Federal Regulation, part 1320.10.