II 109th CONGRESS 2d Session S. 3663 IN THE SENATE OF THE UNITED STATES July 14, 2006 Ms. Landrieu (for herself, Mr. Kerry, Mr. Bayh, and Mr. Pryor) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to increase the maximum amount for international trade loans, to direct the Administrator of the Small Business Administration to assign an international finance specialist, and for other purposes.

1.

Short title

This Act may be cited as the Small Business International Trade Enhancements Act of 2006.

2.

Definitions

In this Act, the terms Administration and Administrator mean the Small Business Administration and the Administrator thereof, respectively.

3.

International trade loans

(a)

In general

Section 7(a)(3)(B) of the Small Business Act (15 U.S.C. 636(a)(3)(B)) is amended by striking $1,750,000, of which not more than $1,250,000 and inserting $2,750,000 (or if the gross loan amount would exceed $3,670,000), of which not more than $2,000,000. (b)

Working capital

Section 7(a)(16)(A) of the Small Business Act (15 U.S.C. 636(a)(16)(A)) is amended— (1)in the matter preceding clause (i), by striking in— and inserting —; (2)in clause (i)— (A)by inserting in after (i); and (B)by striking or at the end; (3)in clause (ii)— (A)by inserting in after (ii); and (B)by striking the period and inserting ; or; and (4)by adding at the end the following: (iii)by providing working capital. . (c)

Collateral

Section 7(a)(16)(B) of the Small Business Act (15 U.S.C. 636(a)(16)(B)) is amended— (1)by striking Each loan and inserting the following: (i)

In general

Except as provided in clause (ii), each loan ; and (2)by adding at the end the following: (ii)

Exception

A loan under this paragraph may be secured by a second lien position on the property or equipment financed by the loan or on other assets of the small business concern, if the Administrator determines such lien provides adequate assurance of the payment of such loan. . (d)

Refinancing

Section 7(a)(16)(A)(ii) of the Small Business Act (15 U.S.C. 636(a)(16)(A)(ii)) is amended by inserting , including any debt that qualifies for refinancing under any other provision of this subsection before the period.

4.

Gulf coast export assistance

(a)

Increase in small business international trade staff

The Administrator shall assign 1 additional full-time international finance specialist to the Office of International Trade of the Administration. (b)

Location and service area

The international finance specialist assigned under subsection (a) shall— (1)be located in the New Orleans, Louisiana United States Export Assistance Center; (2)help to carry out the export promotion efforts described in section 22 of the Small Business Act (15 U.S.C. 649); and (3)provide such services in the States of Louisiana, Mississippi, and Alabama. (c)

Authorization of appropriations

(1)

In general

There are authorized to be appropriated to the Administration such sums as are necessary to carry out this section. (2)

Availability of funds

Amounts made available under this subsection shall remain available until expended.

5.

Assignment of employees of the Office of International Trade

Section 22 of the Small Business Act (15 U.S.C. 649) is amended by adding at the end the following: (h)In carrying out this section, the Administrator shall ensure that the number of full-time equivalent employees of the Office assigned to the one-stop shops referred to in section 2301(b) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4721(b)) is not less than the number of such employees so assigned on January 1, 2006. .