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| 59.054 7(A)EXPORT LOAN GUARANTEES |
| FEDERAL AGENCY |
| SMALL BUSINESS ADMINISTRATION |
| AUTHORIZATION |
| Small Business Act of 1953, Section 7(a), as amended, Public Laws 97-35, 85-536, Section 2(b). |
| OBJECTIVES |
| To aid and assist small-business to increase their ability to compete in international markets by enhancing their ability to export; facilitating technology transfers; enhancing their ability to complete effectively and efficiently against imports; increasing the access of small businesses to long-term capital for the purchase of new plant and equipment used in the production of goods and services involved in international trade; disseminate information concerning, State, Federal, and private programs and initiatives to enhance the ability of small businesses to compete in international Markets; and ensure that the interests of small businesses are adequately represented in bilateral and multilateral negotiations. |
| TYPES OF ASSISTANCE |
| Guaranteed/Insured Loans. |
| USES AND USE RESTRICTIONS |
| To construct, expand, or convert facilities; to purchase building equipment or materials; inventory and for export working capital. |
| Applicant Eligibility |
| A small business is eligible, which is independently owned and operated and not dominant in its field. They also need to meet the SBA size standards. |
| Beneficiary Eligibility |
| Small businesses, including those owned by low-income and handicapped individuals located in high unemployment areas. |
| Credentials/Documentation |
| Statement of personal history, personal financial statement, company financial statements, summary of collateral and a resume. Loan must be of such sound value or so secured as to reasonably assure repayment. |
| Preapplication Coordination |
| None. This program is excluded from coverage under E.O. 12372. |
| Application Procedure |
| Applications are filed by the participating lender in the field office serving the territory in which the applicant's business is located. Where the participating lender is in another territory, applications may be accepted and processed by the field office serving that territory, pro vided there is mutual agreement between the two field offices involved. |
| Award Procedure |
| Applicant is notified by authorization letter. |
| Deadlines |
| None. |
| Range of Approval/Disapproval Time |
| From 1 to 10 days from date of application acceptance, depending on type of loan and type of lender program. |
| Appeals |
| If a reconsideration is requested within 6 months after decline or withdrawal, no new application is required. |
| Renewals |
| Not applicable. |
| Formula and Matching Requirements |
| Not applicable. |
| Length and Time Phasing of Assistance |
| Not applicable. |
| Reports |
| Periodic financial statements. |
| Audits |
| When necessary on a case-by-case basis. |
| Records |
| Adequate accounting system. |
| Account Identification |
| 73-1154-0-1-376. |
| Obligations |
| Administrative Costs: FY 07 $5,258,000; FY 08 5,988,000; and FY 09 $6,430,000. |
| Range and Average of Financial Assistance |
| OIT has three guaranty loan programs: The Export Working Capital Program. This programs guarantees export loans for us to 90 percent of the loan; The Export Express Loan Program guarantees loans for up to 85 percent of the loan; and the International Trade Loan program guarantees the loan for up to 75 percent of the loan. |
| PROGRAM ACCOMPLISHMENTS |
| None. |
| REGULATIONS, GUIDELINES, AND LITERATURE |
| SBA Business Loans from the SBA. |
| Regional or Local Office |
| For reference to the U.S. Export Assistance Centers, see Service Centers in Appendix IV of the Catalog under the Small Business Administration. |
| Headquarters Office |
| Director, Office of International Trade, 409 3rd., S.W., Washington, DC 20416 (202) 205-6720. |
| Web Site Address |
| http://www.sba.gov |
| RELATED PROGRAMS |
| 59.006 8(a) Business Development; 59.037 Small Business Development Centers; 59.043 Women's Business Ownership; 59.044 Veterans Business Development; 59.052 Native American Outreach. |
| EXAMPLES OF FUNDED PROJECTS |
| Not applicable. |
| CRITERIA FOR SELECTING PROPOSALS |
| Not applicable. |
|
General Services Administration Office of Chief Acquisition Officer Regulatory and Federal Assistance Division (VIR) |
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