The Small Business Administration maintains and strengthens the nation's economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters.
Fiscal Year 2016: Not available. Fiscal Year 2017: Not available. Fiscal Year 2018: Not available.
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 2 CFR 200, Subpart E - Cost Principles.
Aplication 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 Procedures
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Applications for guarantees are submitted by the participating lender to SBA electronically.
Award Procedures
SBA provides approval notification to participating lender who provides a commitment letter and loan to the applicant.
Deadlines
Not Applicable.
Authorization
Small Business Act, Section 7(a)(16) (15 U.S.C. 636(a)(16)), Public Law 97-35.
Range of Approval/Disapproval Time
From 1 to 10 days from date of receipt of a complete application, depending on type of loan and type of lender program.
Appeals
If re-consideration is requested within 6 months after decline or withdrawal, no new application is required.
Renewals
Additional information available on SBA's website at www.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
Information available at www.sba.gov. See the following for information on how assistance is awarded/released: Information is available at www.sba.gov.
Post Assistance Requirements
Reports
Please see Program Performance Reports at SBA's website at https://www.sba.gov/about-sba/sba-performance/performance-budget-finance/small-business-administration-sba-loan-program-performance.
Information available at www.sba.gov.
See information at www.sba.gov.
Additional information available on SBA's website at www.sba.gov.
Information available at www.sba.gov.
Audits
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503. When necessary on a case-by-case basis.
Records
Adequate accounting system.
Financial Information
Account Identification
73-1154-0-1-376.
Obigations
(Guaranteed/Insured Loans) FY 16 Not Separately Identifiable; FY 17 est $0; and FY 18 est $0 - N/A.
Range and Average of Financial Assistance
Additional information available on SBA's website at www.sba.gov.
Regulations, Guidelines, and Literature
SBA Business Loans from the SBA.
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 of Federal Domestic Assistance under Small Business Administration.
Headquarters Office
Robert Carpenter 409 3rd St., SW 8th Floor, Washington, District of Columbia 20416 Email: Robert.Carpenter@sba.gov Phone: 202-205-7654
Criteria for Selecting Proposals
Not Applicable.
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