, operating in Illinois; Milwaukee And Lake Shore & Western Rail, Inc., operating in Wisconsin; Central States & Pacific Railway, Inc., operating in California; Union Pacific Railroad & Light, operating in Washington, D.C. The Federal Railroad Administration (FRA) has made significant strides toward encouraging commercial motorcar operations across state lines with the encouragement of FERC, the Board of Governors of the Federal Reserve System, the New York States Department of Transportation (NOT), the New York State Railroad Authority (NY SRA), and the New Jersey Department of Transportation (NJ DOT). The FRA's goal is to increase access to new business opportunities for small businesses, by enhancing the ability for operators of small locomotives to obtain credit, increase access to financing, and increase operating efficiency. The most recent FRA rule changes in this area are: The FRA's December 1998 rule on the loan guarantees for railroad companies.
The new FRA standard for federal credit for operators of small locomotives.
The new FRA standard prohibiting the sale of the right-of-way to a company that offers to develop any new or upgraded freight rail or commuter railroad, or for any railroad to construct any new passenger service, without first receiving FRA certification that proposed construction or operation will not cause undue hazard to navigation or safety and will not require additional federal financial support other than the amount necessary to cover the cost of construction or operations. Under these rules and the new FRA requirements, the FRA has made significant improvements to its process for evaluating proposals for private freight railroad financing. It makes more readily available to the public the information and records it is required to keep by the Federal Railway Administration (FRA). Since October 1996, the FRA has offered a new, less costly route for companies seeking access to the loans made available through the Small Business Loan Guarantee Program (BGL). FRA regulations now make it simpler for the small entities to determine, more conveniently, how and where to obtain BGL financing. A new, streamlined loan application form and a new BGL loan contract can be obtained. The FRA also has adopted a new standard for small lenders. Small business lenders are now to meet a standard set by FERC for the purpose of obtaining credit from FERC. The standards apply to all companies that are members of the Federal Home Loan Banks, of the Federal Small Business Administration, or of the State Small Business Corporation Loan Guarantee Program. Currently, approximately 1,700 member firms exist.
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36032 Federal Register / Vol. 63, No. 126 / Wednesday, July 1, 1998 / Notices operating in New York; Danville and Mount Morris Railroad Company, operating in New York; Rochester & Southern Railroad,
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