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

http://www.sba.gov.

Examples of Funded Projects

Not Applicable.

Criteria for Selecting Proposals

Not Applicable.