Export Express Pilot Program, 66175 [E9-29673]

Download as PDF Federal Register / Vol. 74, No. 238 / Monday, December 14, 2009 / Notices the State of Arkansas (FEMA–1861–DR), dated 12/03/2009. Incident: Severe Storms, Tornadoes, and Flooding. Incident Period: 10/29/2009 and continuing. Effective Date: 12/03/2009. Physical Loan Application Deadline Date: 02/01/2010. Economic Injury (EIDL) Loan Application Deadline Date: 09/03/2010. Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Michael Mitravich, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. Notice is hereby given that as a result of the President’s major disaster declaration on 12/03/2009, Private Non-Profit organizations that provide essential services of governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: SUPPLEMENTARY INFORMATION: Primary Counties: Boone, Bradley, Calhoun, Carroll, Cleburne, Cleveland, Columbia, Conway, Cross, Dallas, Franklin, Fulton, Grant, Izard, Jackson, Johnson, Lafayette, Lawrence, Lincoln, Logan, Marion, Monroe, Nevada, Newton, Ouachita, Poinsett, Prairie, Pulaski, Randolph, Saint Francis, Scott, Sharp, Stone, Union, Van Buren, White, Woodruff. The Interest Rates are: Percent Other (Including Non-Profit Organizations) With Credit Available Elsewhere ................................. Businesses and Non-Profit Organizations Without Credit Available Elsewhere ......................... 3.625 3.000 mstockstill on DSKH9S0YB1PROD with NOTICES The number assigned to this disaster for physical damage is 11960B and for economic injury is 11961B. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E9–29596 Filed 12–11–09; 8:45 am] BILLING CODE 8025–01–P VerDate Nov<24>2008 17:54 Dec 11, 2009 Jkt 220001 SMALL BUSINESS ADMINISTRATION Export Express Pilot Program AGENCY: U.S. Small Business Administration (SBA). ACTION: Notice of Pilot Program extension. SUMMARY: This notice announces the extension of SBA’s Export Express Pilot Program until December 31, 2010. This extension will allow time for the Agency to further market and evaluate this specific loan program for exporters and analyze the Program’s performance during the next 12 months. DATES: The Export Express Pilot Program is extended under this notice until December 31, 2010. FOR FURTHER INFORMATION CONTACT: Patrick Tunison, Office of International Trade, U.S. Small Business Administration, 409 Third Street, SW., Washington, DC 20416; Telephone (202) 205–7429; Patrick.Tunison@sba.gov. SUPPLEMENTARY INFORMATION: Established in 1998, the Export Express Pilot Program assists current and prospective small business exporters, particularly those needing revolving lines of credit. Export Express is an SBA Pilot Program under the Agency’s 7(a) lending program that extends a streamlined process to small business exporters and their lenders. The maximum loan amount under this Program is $250,000. The pilot was scheduled to end on December 31, 2009. This notice announces the extension of SBA’s Export Express Pilot Program until December 31, 2010. SBA estimates that small business exports grew by 58% from 2002 to 2007, from $300 billion to $475 billion (Source: SBA, Bureau of Economic Analysis GDP data and Census Bureau A Profile of US Exporting Companies). Almost a quarter of a million small businesses export, and they account for 29 percent of all U.S. exports (Source: A Profile of US Exporting Companies, Census Bureau). Designed to serve the particular capital needs of small business exporters, the number of Export Express loans approved in 2009 was double those closed in 2008 (227 versus 104) and the approved loan dollar amount increased by more than 91% ($15M versus $8M). In addition, the number of lenders delegated the authority to use expedited loan processing was increased by five in 2009. These indicators reflect an increasing utility and need for the Export Express Program. Extension of this pilot program through December 31, 2010 will enable the Agency to analyze performance and refine the elements/ PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 66175 structure of the Export Express Loan Pilot Program. In prior years, the Agency stated that it would complete an analysis of this program to help determine its long-term viability. This analysis primarily includes lender and borrower participation in the program as well as portfolio performance. Because this year the program was changed through Recovery Act provisions that reduced program fees and increased guarantees, the Agency is unable to separate baseline program statistics from this year’s special circumstances and is therefore providing an additional pilot year to review performance. Authority: 13 CFR 120.3. Richard Blewett, Acting Director, Office of Financial Assistance. [FR Doc. E9–29673 Filed 12–11–09; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION SBA North Florida District Advisory Council AGENCY: U.S. Small Business Administration. ACTION: Notice of open Federal Advisory Committee meeting. SUMMARY: The SBA is issuing this notice to announce the location, date, time, and agenda for the next meeting of the SBA North Florida District Advisory Council. The meeting will be open to the public. DATES: The meeting will be held on Thursday, January 14, 2010 from 11:30 a.m. to 2 p.m. Eastern Standard Time. ADDRESSES: The meeting will be held at the Disney Entrepreneur Center, 315 East Robinson St., Orlando, FL 32801. SUPPLEMENTARY INFORMATION: Pursuant to section 10(a)(2) of the Federal Advisory Committee Act (5 U.S.C., Appendix 2), SBA announces the meeting of the SBA North Florida District Advisory Council. The SBA North Florida District Advisory Council is tasked with providing advice and opinions to SBA regarding the effectiveness of and need for SBA programs, particularly within North Florida and for listening to what is currently happening in the Florida small business community. The purpose of the meeting is to discuss with the council the current status of small business across North Florida and to discuss the agency status, especially in regards to ARRA updates. The agenda includes: An overview of the status of the SBA as an agency from E:\FR\FM\14DEN1.SGM 14DEN1

Agencies

[Federal Register Volume 74, Number 238 (Monday, December 14, 2009)]
[Notices]
[Page 66175]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-29673]


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SMALL BUSINESS ADMINISTRATION


Export Express Pilot Program

AGENCY: U.S. Small Business Administration (SBA).

ACTION: Notice of Pilot Program extension.

-----------------------------------------------------------------------

SUMMARY: This notice announces the extension of SBA's Export Express 
Pilot Program until December 31, 2010. This extension will allow time 
for the Agency to further market and evaluate this specific loan 
program for exporters and analyze the Program's performance during the 
next 12 months.

DATES: The Export Express Pilot Program is extended under this notice 
until December 31, 2010.

FOR FURTHER INFORMATION CONTACT: Patrick Tunison, Office of 
International Trade, U.S. Small Business Administration, 409 Third 
Street, SW., Washington, DC 20416; Telephone (202) 205-7429; 
Patrick.Tunison@sba.gov.

SUPPLEMENTARY INFORMATION: Established in 1998, the Export Express 
Pilot Program assists current and prospective small business exporters, 
particularly those needing revolving lines of credit. Export Express is 
an SBA Pilot Program under the Agency's 7(a) lending program that 
extends a streamlined process to small business exporters and their 
lenders. The maximum loan amount under this Program is $250,000. The 
pilot was scheduled to end on December 31, 2009. This notice announces 
the extension of SBA's Export Express Pilot Program until December 31, 
2010.
    SBA estimates that small business exports grew by 58% from 2002 to 
2007, from $300 billion to $475 billion (Source: SBA, Bureau of 
Economic Analysis GDP data and Census Bureau A Profile of US Exporting 
Companies). Almost a quarter of a million small businesses export, and 
they account for 29 percent of all U.S. exports (Source: A Profile of 
US Exporting Companies, Census Bureau). Designed to serve the 
particular capital needs of small business exporters, the number of 
Export Express loans approved in 2009 was double those closed in 2008 
(227 versus 104) and the approved loan dollar amount increased by more 
than 91% ($15M versus $8M). In addition, the number of lenders 
delegated the authority to use expedited loan processing was increased 
by five in 2009. These indicators reflect an increasing utility and 
need for the Export Express Program. Extension of this pilot program 
through December 31, 2010 will enable the Agency to analyze performance 
and refine the elements/structure of the Export Express Loan Pilot 
Program.
    In prior years, the Agency stated that it would complete an 
analysis of this program to help determine its long-term viability. 
This analysis primarily includes lender and borrower participation in 
the program as well as portfolio performance. Because this year the 
program was changed through Recovery Act provisions that reduced 
program fees and increased guarantees, the Agency is unable to separate 
baseline program statistics from this year's special circumstances and 
is therefore providing an additional pilot year to review performance.

    Authority: 13 CFR 120.3.

Richard Blewett,
Acting Director, Office of Financial Assistance.
[FR Doc. E9-29673 Filed 12-11-09; 8:45 am]
BILLING CODE 8025-01-P
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