Secondary Market Lending Authority

 

Provide liquidity for the secondary market, ultimately encouraging new lending by banks of SBA guaranteed loans.

Deleted 02/05/2016 (Archived.) 59.056 Agency: Small Business Administration Direct Loans Not Applicable. American Recovery and Reinvestment Act of 2009, Public Law 111-5. None None No Credentials or documentation are required. This program is excluded from coverage under OMB Circular No. A-87. Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372. This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. SBA will issue a rule which will outline process for making decisions regarding whether or not to extend a loan applied under this program. The rule is to include provisions to assure that loan is for sole purpose of financing the inventory of the government guaranteed portion f loans, originated, underwritten, and closed under the SBA of pools of such loans, loans are fully collateralized, that there is no limit to frequency in which borrower may apply under this program unless otherwise identified, and that there is no limit on the size of the loan. SBA will issue a rule which will outline process for making decisions regarding whether or not to extend a loan applied under this program. Not Applicable. Not Applicable. Not Applicable. Not Applicable. Not Applicable. Make direct loans to secondary market broker dealers to finance their inventory of SBA guaranteed loans for resale in the secondary market. The Administrator shall establish by rule a process under which Systematically Important SBA Secondary Market Broker-Dealers designated may apply for loans under this program. Regulations are to proulgated regarding administration of this program. Direct loans. No reports are required. No audits are required for this program. No Data Available. This program has no statutory formula.
This program has no matching requirements.
This program does not have MOE requirements. The authority for this program remains in effect for two years after date of enactment of the ARRA or until February 16, 2011. See the following for information on how assistance is awarded/released: Upon processing of application. None. SBA Executive Secretariat 409 3rd. Street, SW, Washington, District of Columbia 20416 Email: SBAExecSec@sba.gov Phone: 1-800-827-5722 http://www.sba.gov 73-1156-0-1-376. (Direct Loans) FY 08 Not Available; FY 09 est $0; and FY 10 est $0 - Zero subsidy cost for this program. No limit to size of loan, subject to discretion of Administrator. Not Applicable. Not Applicable.