7(a) Loans (Export Loans) (59.054)
Program
59.054 7(a) Loans (Export Loans)
Federal Agency
Agency: Small Business Administration
Authorization
Small Business Act of 1953, Public Law 97-35.
Program Number
59.054
Last Known Status
Active
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.
Eligibility Requirements
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. This program is excluded from coverage under OMB Circular No. A-87.
Application and Award Process
Preapplication Coordination
Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedure
This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. 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
Contact the headquarters or regional office, as appropriate, for application deadlines.
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
Additional information available on SBA's website at sba.gov.
Assistance Considerations
Formula and Matching Requirements
Statutory formulas are not applicable to this program.
Matching requirements are not applicable to this program.
MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Additional information available on SBA's website at sba.gov. See the following for information on how assistance is awarded/released: Additional information available on SBA's website at sba.gov.
Post Assistance Requirements
Reports
Additional information available on SBA's website at sba.gov. Additional information available on SBA's website at sba.gov. Additional information available on SBA's website at sba.gov. Additional information available on SBA's website at sba.gov. Additional information available on SBA's website at sba.gov.
Audits
In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. When necessary on a case-by-case basis.
Records
Adequate accounting system.
Program Accomplishments
Fiscal Year 2008: See the FY 2010 Performance and Accountability Report on SBA's website at sba.gov. Fiscal Year 2009: See the FY 2010 Performance and Accountability Report on SBA's website at sba.gov. Fiscal Year 2010: See the FY 2010 Performance and Accountability Report on SBA's website at sba.gov.
Financial Information
Account Identification
73-1154-0-1-376.
Obligations
(Salaries) FY 08 $4,154,000; FY 09 est $4,679,000; FY 10 est $5,416,000
Range and Average of Financial Assistance
Additional information available on SBA's website at sba.gov.
Regulations, Guidelines and Literature
SBA Business Loans from the SBA.
Related Programs
Not Applicable.
Information Contacts
Regional or Local Office
See Regional Agency Offices. 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
David Lippold 409 3rd. Street, SW, Suite 6000, Washington, District of Columbia 20416 Email: david.lippold@sba.gov Phone: 202-205-6569
Web Site Address
Examples of Funded Projects
Not Applicable.
Criteria for Selecting Proposals
Not Applicable.
