Export-Import Bank November 22, 2016 – Federal Register Recent Federal Regulation Documents

The Export-Import Bank of the United States (``EXIM Bank'') proposes to adopt the Interim Rule (as defined below) set forth in Section 1116 of the Small Business Jobs Act of 2010 (Pub. L. 111-240) (the ``Jobs Act'') as an alternative standard for defining a small business for all of its programs. The Jobs Act mandated that the U.S. Small Business Administration (``SBA'') use maximum tangible net worth and average net income as an alternative to the use of industry based size standards as follows: Not more than $15 million in tangible net worth and $5 million in average net income after Federal income taxes to define a small business concern (``Interim Rule''). The SBA currently uses the Interim Rule for its business loans under Section 7(a) of the Small Business Act (``7(a) Loan Program'') and development company loans under Title V of the Small Business Investment Act of 1958 (``504 Loan Program'', and together with the 7(a) Loan Program, the ``SBA Loan Programs'') to determine size eligibility for an applicant if such applicant does not meet the size standards that it has developed for individual industries as defined under the North American Industry Classification System (``NAICS''). If approved by the SBA's Administrator, EXIM Bank will apply the Interim Rule as an alternative size standard in addition to using size standards established by SBA for individual industries to determine whether or not participants of EXIM programs can be categorized as small business concerns.