Small Business Loans (59.012)

Program

59.012 Small Business Loans

Federal Agency

Agency: Small Business Administration

Authorization

Small Business Act of 1953, Public Law 97-35.

Program Number

59.012

Last Known Status

Active

Objectives

To provide guaranteed loans from lenders to small businesses which are unable to obtain financing in the private credit marketplace, but can demonstrate an ability to repay loans if granted, in a timely manner. Guaranteed loans are made available to for profit small businesses. The SBA's 7(a) lending authority includes: (1) regular 7(a) (2) the Low Documentation Loan Program (Low Doc); (3) SBAExpress Program; (4) the Cap Line Program (5) PLP and (6) International Trade.

Types of Assistance

GUARANTEED/INSURED LOANS

Uses and Use Restrictions

To construct, expand, or convert facilities; to purchase building equipment or materials; and for working capital. Excludes gambling establishments, nonprofit enterprises, speculators in property, lending or investment enterprises, and financing of real property held for investment; also excludes funds to indiscriminately relocate the business. Funds must not otherwise be available on reasonable terms, nor used to pay off a loan to an unsecured creditor who is in a position to sustain loss. Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.sba.gov.

Eligibility Requirements

Applicant Eligibility

Not applicable.

Beneficiary Eligibility

Small businesses that meet the size and eligibility standards.

Credentials/Documentation

Additional information available at SBA's website at www.sba.gov. 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 to an SBA processing center (85 percent). Fifthteen percent are processed by an SBA district office.

Award Procedure

Applicant is notified by authorization letter from the District SBA Office, or participating bank.

Deadlines

Contact the headquarters or regional office, as appropriate, for application deadlines.

Range of Approval/Disapproval Time

From one to ten days from date of application acceptance, depending on type of loan and type of lender program.

Appeals

If a reconsideration is requested within six months after decline or withdrawal, no new application is required.

Renewals

Additional information available at SBA's website at www.sba.gov.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula.
Matching Requirements: Additional information available at SBA's website at www.sba.gov.
MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

Additional information available at SBA's website at www.sba.gov. See the following for information on how assistance is awarded/released: Additional information available at SBA's website at www.sba.gov.

Post Assistance Requirements

Reports

Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.sba.gov. Additional information available at SBA's website at www.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 2009: No Current Data Available Fiscal Year 2010: See the FY 2010 Performance and Accountability Report on SBA’s website at www.sba.gov. Fiscal Year 2011: No Current Data Available

Financial Information

Account Identification

73-1154-0-1-376.

Obligations

(Salaries) FY 08 $86,282,000; FY 09 est $88,336,000; FY 10 est $99,858,000

Range and Average of Financial Assistance

Additional information available at SBA's website at www.sba.gov.

Regulations, Guidelines and Literature

"SBA Business Loans from the SBA," OPC-6.

Related Programs

Not Applicable.

Information Contacts

Regional or Local Office

See Regional Agency Offices. Initial contact should be with the District Offices listed in Appendix IV of the Catalog.

Headquarters Office

SBA Executive Secretariat 409 3rd. Street, SW , Washington, District of Columbia 20416 Email: SBAExecSec@sba.gov Phone: 1-800-827-5722

Web Site Address

http://ww.sba.gov/financing.

Examples of Funded Projects

Not Applicable.

Criteria for Selecting Proposals

Not Applicable.