[Appendix]
[Detailed Budget Estimates by Agency]
[Small Business Administration]
[From the U.S. Government Printing Office, www.gpo.gov]
THE BUDGET FOR FISCAL YEAR 2007
[[Page 1091]]
SMALL BUSINESS ADMINISTRATION
For 2007, the Budget requests $624 million in new budget authority
for the Small Business Administration (SBA). SBA's continuing operations
will provide more than $28 billion in new loans to small businesses,
funding for non-credit programs, and funding for the disaster loan
program.
Federal Funds
General and special funds:
Salaries and Expenses
For necessary expenses, not otherwise provided for, of the Small
Business Administration as authorized by Public Law [108-447] 109-108,
including hire of passenger motor vehicles as authorized by 31 U.S.C.
1343 and 1344, and not to exceed $3,500 for official reception and
representation expenses, [$313,029,000] $303,550,000: Provided, That the
Administrator is authorized to charge fees to cover the cost of
publications developed by the Small Business Administration, and certain
loan [servicing] program activities, including fees authorized by
section 5(b) of the Small Business Act: Provided further, That,
notwithstanding 31 U.S.C. 3302, revenues received from all such
activities shall be credited to this account, to [be] remain available
until expended, for carrying out these purposes without further
appropriations: Provided further, That the sum herein appropriated from
the general fund shall be reduced up to the amount of $7,000,000, as the
fees assessed and collected under the authority of section 5(b)(12)(E)
of the Small Business Act are received, and any fees received in excess
of $7,000,000 shall be available until expended: Provided further, That
[$89,000,000] $87,120,000 shall be available to fund grants for
performance in fiscal year [2006] 2007 or fiscal year [2007] 2008 as
authorized: Provided further, That the Small Business Administration is
authorized to award grants under the Women's Business Center
Sustainability Pilot Program established by section 4(a) of Public Law
106-165 (15 U.S.C. 656(l): [Provided further, That, of the amounts
provided for Women's Business Centers, not less than 41 percent shall be
available to continue Women's Business Centers in sustainability
status].
(rescission)
Of the unobligated balances available under this heading,
[$3,000,000] $6,100,000 are rescinded. (Science, State, Justice,
Commerce, and Related Agencies Appropriations Act, 2006.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Executive Direction............... 42 42 42
00.02 Capital Access.................... 41 41 44
00.03 Gov. Contracting/ Bus. Development 19 19 21
00.04 Entrepreneurial Development....... 6 6 8
00.05 Management & Adminstration........ 15 15 18
00.06 Office of Chief Information
Officer......................... 25 26 32
00.07 Regional & District Offices....... 124 124 127
00.08 Agency Wide Costs................. 48 47 48
00.09 Non Credit Programs............... 135 127 106
00.10 Congressional Initiatives......... 39 90
00.12 Disaster.......................... 223 437 105
09.00 Reimbursable program.............. 9 12 11
--------- --------- ----------
10.00 Total new obligations........... 726 986 562
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 40 349 84
22.00 New budget authority (gross)...... 1,034 721 556
22.10 Resources available from
recoveries of prior year
obligations..................... 2
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,076 1,070 640
23.95 Total new obligations............. -726 -986 -562
23.98 Unobligated balance expiring or
withdrawn....................... -1
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 349 84 78
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 362 404 297
40.33 Appropriation permanently
reduced (P.L. 109-148)........ -4
40.35 Appropriation permanently
reduced....................... -5 -1
40.36 Unobligated balance permanently
reduced....................... -3 -6
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 357 396 291
Spending authority from
offsetting collections:
68.00 Offsetting collections (cash). 677 139 151
68.00 Offsetting collections (cash). 186 114
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 677 325 265
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 1,034 721 556
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 287 303 214
73.10 Total new obligations............. 726 986 562
73.20 Total outlays (gross)............. -685 -1,075 -602
73.40 Adjustments in expired accounts
(net)........................... -23
73.45 Recoveries of prior year
obligations..................... -2
--------- --------- ----------
74.40 Obligated balance, end of year.. 303 214 174
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 520 543 428
86.93 Outlays from discretionary
balances........................ 165 532 174
--------- --------- ----------
87.00 Total outlays (gross)........... 685 1,075 602
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.00 Payments from business loan
program account............. -125 -124 -126
88.00 Payments from disaster loan
program account............. -539 -186 -114
88.00 Federal sources............... -10 -12 -11
88.00 Business Loan Fees............ -7
88.40 Non-Federal sources........... -3 -3 -7
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -677 -325 -265
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 357 396 291
90.00 Outlays........................... 8 750 337
---------------------------------------------------------------------------
The appropriation for this account is necessary to cover the
administrative expenses for SBA headquarters and the field and for non-
credit programs. Appropriations for the administration of the Disaster
direct loan and business loan programs are merged with this account. In
addition, this account funds technical assistance grant programs.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 166 161 170
11.3 Other than full-time permanent 11 10 10
11.5 Other personnel compensation.. 3 3 3
--------- --------- ----------
11.9 Total personnel compensation.. 180 174 183
12.1 Civilian personnel benefits..... 54 47 47
21.0 Travel and transportation of
persons....................... 4 5 5
23.1 Rental payments to GSA.......... 32 35 35
23.3 Communications, utilities, and
miscellaneous charges......... 5 6 7
24.0 Printing and reproduction....... 1 1 1
25.2 Other services.................. 39 44 51
25.3 Other purchases of goods and
services from Government
accounts (Disaster
Administrative Expenses)...... 223 437 105
[[Page 1092]]
26.0 Supplies and materials.......... 2 3 4
31.0 Equipment....................... 3 5 7
41.0 Grants, subsidies, and
contributions................. 174 217 106
--------- --------- ----------
99.0 Direct obligations............ 717 974 551
99.0 Reimbursable obligations.......... 9 12 11
--------- --------- ----------
99.9 Total new obligations........... 726 986 562
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0100-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct:
1001 Civilian full-time equivalent
employment...................... 4,030 5,122 2,860
Reimbursable:
2001 Civilian full-time equivalent
employment...................... 11 11 8
---------------------------------------------------------------------------
Office of Inspector General
For necessary expenses of the Office of Inspector General in
carrying out the provisions of the Inspector General Act of 1978,
[$13,900,000] $14,355,000. (Science, State, Justice, Commerce, and
Related Agencies Appropriations Act, 2006.)
[For an additional amount for the ``Office of Inspector General''
for necessary expenses related to the consequences of hurricanes in the
Gulf of Mexico in calendar year 2005, $5,000,000, to remain available
until expended: Provided, That the amount provided under this heading is
designated as an emergency requirement pursuant to section 402 of H.
Con. Res. 95 (109th Congress), the concurrent resolution on the budget
for fiscal year 2006.] (Emergency Supplemental Appropriations Act to
Address Hurricanes in the Gulf of Mexico and Pandemic Influenza, 2006.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Audit............................. 5 7 6
00.02 Investigations.................... 6 8 7
00.03 Management Policy................. 1 1 1
00.04 General Office/Legal Counsel...... 1 1 1
--------- --------- ----------
10.00 Total new obligations........... 13 17 15
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 4
22.00 New budget authority (gross)...... 14 21 15
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 14 21 19
23.95 Total new obligations............. -13 -17 -15
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 4 4
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 13 14 14
40.30 Appropriations adjusted pursuant
to PL 109-148 (+)............. 5
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 13 19 14
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 1 2 1
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 14 21 15
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 2 2 2
73.10 Total new obligations............. 13 17 15
73.20 Total outlays (gross)............. -14 -17 -16
--------- --------- ----------
74.40 Obligated balance, end of year.. 2 2 1
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 13 16 14
86.93 Outlays from discretionary
balances........................ 1 1 2
--------- --------- ----------
87.00 Total outlays (gross)........... 14 17 16
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.00 Offsetting collections (cash)
from: Payments from disaster
loan program account.......... -1 -2 -1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 13 19 14
90.00 Outlays........................... 13 15 15
---------------------------------------------------------------------------
The Budget proposes $14.3 million in new budget authority and $0.5
million transferred from the Disaster Loans Program account for a total
of $14.9 million for the Office of Inspector General (OIG) for 2007.
This appropriation provides funds for agency-wide audit, investigative,
and related functions to promote economy and efficiency in agency
operations and to prevent and detect waste, fraud, and abuse.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct obligations:
Personnel compensation:
11.1 Full-time permanent........... 8 9 9
11.5 Other personnel compensation.. 1 1 1
--------- --------- ----------
11.9 Total personnel compensation.. 9 10 10
12.1 Civilian personnel benefits..... 2 2 2
25.2 Other services.................. 1 4 2
--------- --------- ----------
99.0 Direct obligations............ 12 16 14
99.0 Reimbursable obligations.......... 1 1 1
--------- --------- ----------
99.9 Total new obligations........... 13 17 15
---------------------------------------------------------------------------
Personnel Summary
----------------------------------------------------------------------------
Identification code 73-0200-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct:
1001 Civilian full-time equivalent
employment...................... 95 107 107
---------------------------------------------------------------------------
Public enterprise funds:
Surety Bond Guarantees Revolving Fund
For additional capital for the Surety Bond Guarantees Revolving
Fund, authorized by the Small Business Investment Act of 1958, as
amended, [$2,861,000] $2,970,000, to remain available until expended.
(Science, State, Justice, Commerce, and Related Agencies Appropriations
Act, 2006.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4156-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
09.01 Reimbursable obligations.......... 8 10 10
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 8 10 10
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 22 23 21
22.00 New budget authority (gross)...... 9 8 9
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 31 31 30
23.95 Total new obligations............. -8 -10 -10
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 23 21 20
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 3 3 3
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 6 5 6
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 9 8 9
----------------------------------------------------------------------------
[[Page 1093]]
Change in obligated balances:
72.40 Obligated balance, start of year.. 1 2 3
73.10 Total new obligations............. 8 10 10
73.20 Total outlays (gross)............. -7 -9 -10
--------- --------- ----------
74.40 Obligated balance, end of year.. 2 3 3
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 6 8 9
86.93 Outlays from discretionary
balances........................ 1 1 1
--------- --------- ----------
87.00 Total outlays (gross)........... 7 9 10
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -6 -5 -6
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 1 4 4
---------------------------------------------------------------------------
SBA is authorized to issue bond guarantees to surety companies for
construction, service, and supply contracts that do not exceed
$2,000,000 and to reimburse these sureties up to 90 percent of the
losses sustained if the contractor defaults. SBA's guarantees provide
the incentive necessary for sureties to issue bonds to small contractors
who could not otherwise secure them and compete in the contracting
industry.
In 2007, the Budget proposes a $1.7 billion program level that is
anticipated to be sufficient to accommodate demand from prior-approval
and preferred sureties.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4156-0-
3-376
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
23
25
Investments in US securities:
1106
Receivables, net
5
4
1999
Total assets
28
29
LIABILITIES:
2201
Non-Federal liabilities: Accounts payable
21
25
2999
Total liabilities
21
25
NET POSITION:
3100
Appropriated capital
1
1
3300
Cumulative results of operations
6
3
3999
Total net position
7
4
4999
Total liabilities and net position
28
29
-----------------------------------------------------------------------------------------------
Credit accounts:
Business Loans Program Account
(including transfers of funds)
[For the cost of direct loans, $1,300,000, to remain available
until expended: Provided, That such costs, including the cost of
modifying such loans, shall be as defined in section 502 of the
Congressional Budget Act of 1974: Provided further, That subject]
Subject to section 502 of the Congressional Budget Act of 1974, during
fiscal year [2006] 2007 commitments to guarantee loans under section 503
of the Small Business Investment Act of 1958, shall not exceed [the
levels established under 20(e)(1)(B)(ii) of the Small Business Act]
$7,500,000,000: Provided [further], That during fiscal year [2006] 2007
commitments for general business loans authorized under section 7(a) of
the Small Business Act, shall not exceed [the levels established under
20(e)(1)(B)(i) of the Small Business Act] $17,500,000,000: Provided
further, That during fiscal year [2006] 2007 commitments to guarantee
loans for debentures under section 303(b) of the Small Business
Investment Act of 1958, shall not exceed $3,000,000,000: Provided
further, That during fiscal year [2006] 2007 guarantees of trust
certificates authorized by section 5(g) of the Small Business Act shall
not exceed a principal amount of $12,000,000,000.
In addition, for administrative expenses to carry out the direct and
guaranteed loan programs, [$125,307,000] $126,136,000, which may be
transferred to and merged with the appropriations for Salaries and
Expenses[: Provided, That, of the funds previously made available under
Public Law 105-135, section 507(g), for the Delta Loan program, up to
$500,000 may be transferred to and merged with the appropriation for
Salaries and Expenses].
(rescission)
Of the unobligated balances available under this heading,
[$4,000,000] $5,000,000 are rescinded. (Science, State, Justice,
Commerce, and Related Agencies Appropriations Act, 2006.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 2 1
00.02 Guaranteed loan subsidy........... 3
00.05 Reestimate of direct loan......... 12
00.06 Interest on direct loan
reestimation.................... 14
00.07 Reestimate of loan guarantee
subsidy......................... 1,357 329
00.08 Interest on reestimates of loan
guarantee subsidy............... 549 50
00.09 Administrative expenses........... 125 124 126
--------- --------- ----------
10.00 Total new obligations........... 2,036 530 126
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 101 13 9
22.00 New budget authority (gross)...... 2,034 526 121
22.10 Resources available from
recoveries of prior year
obligations..................... 6
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 2,141 539 130
23.95 Total new obligations............. -2,036 -530 -126
23.98 Unobligated balance expiring or
withdrawn....................... -92
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 13 9 4
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 128 127 126
40.33 Appropriation permanently
reduced (P.L. 109-148)........ -1
40.35 Appropriation permanently
reduced....................... -2 -1
40.36 Unobligated balance permanently
reduced....................... -4 -5
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 126 121 121
Mandatory:
60.00 Appropriation................... 1,906 405
Discretionary:
68.00 Spending authority from
offsetting collections:
Offsetting collections (cash). 2
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 2,034 526 121
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 63 19 18
73.10 Total new obligations............. 2,036 530 126
73.20 Total outlays (gross)............. -2,071 -531 -121
73.40 Adjustments in expired accounts
(net)........................... -3
73.45 Recoveries of prior year
obligations..................... -6
--------- --------- ----------
74.40 Obligated balance, end of year.. 19 18 23
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 128 121 121
86.93 Outlays from discretionary
balances........................ 37 5
86.97 Outlays from new mandatory
authority....................... 1,906 405
--------- --------- ----------
87.00 Total outlays (gross)........... 2,071 531 121
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
88.40 Offsetting collections (cash)
from: Non-Federal sources..... -3
Against gross budget authority only:
88.96 Portion of offsetting
collections (cash) credited to
expired accounts.............. 1
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 2,032 526 121
90.00 Outlays........................... 2,069 531 121
---------------------------------------------------------------------------
[[Page 1094]]
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Micro loans....................... 18 20
--------- --------- ----------
115901Total direct loan levels.......... 18 20
Direct loan subsidy (in percent):
132001Micro loans....................... 10.25 7.17 0.00
--------- --------- ----------
132901Weighted average subsidy rate..... 10.25 7.17 0.00
Direct loan subsidy budget authority:
133001Micro loans....................... 2 1
--------- --------- ----------
133901Total subsidy budget authority.... 2 1
Direct loan subsidy outlays:
134001Micro loans....................... 2 1
--------- --------- ----------
134901Total subsidy outlays............. 2 1
Direct loan upward reestimate subsidy budget
authority:
135001Msc. loans........................ 26
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 26
Direct loan downward reestimate subsidy budget
authority:
137001Misc. loans....................... -42
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -42
----------------------------------------------------------------------------
Guaranteed loan levels supportable by subsidy
budget authority:
215002General business -- 7(a).......... 14,284 17,000 17,500
215004Section 504....................... 5,000 7,500 7,500
215006SBIC debentures................... 355 3,000 3,000
215010Secondary market guarantee........ 10,000 12,000 12,000
215011General business 7(a) prior....... 300
--------- --------- ----------
215901Total loan guarantee levels....... 29,939 39,500 40,000
Guaranteed loan subsidy (in percent):
232002General business -- 7(a).......... 0.00 0.00 0.00
232004Section 504....................... 0.00 0.00 0.00
232006SBIC debentures................... 0.00 0.00 0.00
232010Secondary marker guarantee........ 0.00 0.00 0.00
232011General business 7(a) prior....... 0.01 0.00 0.00
--------- --------- ----------
232901Weighted average subsidy rate..... 0.00 0.00 0.00
Guaranteed loan subsidy budget authority:
233002General business-- 7(a)...........
233004Section 504.......................
233006SBIC debentures...................
233010Secondary market guarantee........
233011General business 7(a) prior....... 3
--------- --------- ----------
233901Total subsidy budget authority.... 3
Guaranteed loan subsidy outlays:
234002General business -- 7(a).......... 32
234004Section 504.......................
234006SBIC debentures...................
234010Secondary market guarantee........
234011General budiness 7(a) prior....... 3
--------- --------- ----------
234901Total subsidy outlays............. 35
Guaranteed loan upward reestimate subsidy
budget authority:
235001Microloan guarantees..............
235002General business 7(a)............. 556 99
235003General business -- 7(a) terrorist
response........................
235004Section 504....................... 221
235005Section 504-DELTA.................
235006SBIC debentures................... 117 64
235007SBIC participating securities..... 969 153
235008New Market Venture Capital........ 1
235009General business 7(a) -DELTA...... 8
235010Secondary market guarantee........ 44 53
235011General business 7(a) prior.......
235012SBIC 301(d) Guarantee............. 1
235013502 Local development companies...
--------- --------- ----------
235901Total upward reestimate budget
authority....................... 1,907 379
Guaranteed loan downward reestimate subsidy
budget authority:
237001Microloan guarantees.............. -1
237002general business 7(a)............. -135 -156
237003General business -- 7(a)-terrorist
response........................ -13 -7
237004Section 504....................... -98 -202
237005Section 504 -DELTA................ -18
237006SBIC debentures................... -178 -48
237007SBIC participating securities..... -46 -499
237008New Market Venture Capital........
237009General business 7(a)--DELTA...... -1
237010Secondary market guarantee........ -4
237011General business 7(a) Prior.......
237012SBIC 301(d) Guarantee............. -10
237013502 Local development compnies.... -4
--------- --------- ----------
237901Total downward reestimate subsidy
budget authority................ -470 -950
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 125 127 126
359001Outlays from new authority........ 125 124 120
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for this program, the subsidy costs associated
with the direct loans obligated and loan guarantees committed in 1992
and beyond (including modifications of direct loans or loan guarantees
that resulted from obligations or commitments in any year), as well as
administrative expenses of this program. The subsidy amounts are
estimated on a present value basis; the administrative expenses are
estimated on a cash basis.
For 2007, the Budget proposes $126.1 million in new budget authority
for the Business Loans Program account, of which $7 million will be
repaid through administrative fee collections on loans over $1 million.
No appropriations are required to cover loan subsidy as fees are
sufficient to offset losses.
The Section 7(a) program provides general business credit
assistance. The requested guaranteed loan program level for 2007 is
$17.5 billion. The Section 504 Certified Development Company program is
for long-term fixed rate financing and the requested guaranteed loan
program level is $7.5 billion in 2007. The Small Business Investment
Company (SBIC) program provides credit to support venture capital
investments. The Budget proposes a program level of $3 billion for SBIC
Debentures.
As part of the Secondary Market Guarantee (SMG), SBA's fiscal agent
pools the guaranteed portion of 7(a) loans and sells the securities to
investors. This mechanism provides liquidity to lenders participating in
the 7(a) loan program. For FY 2007, the Budget proposes a program level
of $12 billion in such securities. In addition, the Budget proposes fee
authority for the program to simplify program management.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1154-0-1-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
25.2 Other services.................... 125 124 126
41.0 Grants, subsidies, and
contributions................... 1,911 406
--------- --------- ----------
99.9 Total new obligations........... 2,036 530 126
---------------------------------------------------------------------------
Business Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 18 20
00.02 Interest on Treasury borrowing.... 10 7
--------- --------- ----------
00.91 Direct obligations--Subtotal.... 28 27
08.02 Payment of downward reestimate to
a receipt account............... 28
08.04 Payment of interest on downward
reestimate to a receipt account. 14
--------- --------- ----------
08.91 Direct obligations--Subtotal.... 42
--------- --------- ----------
[[Page 1095]]
10.00 Total new obligations........... 28 69
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 73 41
22.00 New financing authority (gross)... 46 74 12
22.10 Resources available from
recoveries of prior year
obligations..................... 7
22.60 Portion applied to repay debt..... -57 -46 -12
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 69 69
23.95 Total new obligations............. -28 -69
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 41
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 19 21
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 28 53 12
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... -1
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 27 53 12
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 46 74 12
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 29 23 70
73.10 Total new obligations............. 28 69
73.20 Total financing disbursements
(gross)......................... -28 -22 -10
73.45 Recoveries of prior year
obligations..................... -7
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 1
--------- --------- ----------
74.40 Obligated balance, end of year.. 23 70 60
87.00 Total financing disbursements
(gross)......................... 28 22 10
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Federal sources: Payments from
program account............. -2 -2
88.00 Upward reestimate............. -12
88.00 Interest on reestimate........ -14
88.25 Interest on uninvested funds.. -5 -6
88.40 Repayments of principal, net.. -21 -20 -11
88.40 Other income.................. -1
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -28 -54 -12
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 1
88.96 Portion of offsetting
collections (cash) credited to
expired accounts.............. 1
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 19 21
90.00 Financing disbursements........... -32 -2
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4148-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........ 18 20
--------- --------- ----------
1150 Total direct loan obligations... 18 20
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 132 134 134
1231 Disbursements: Direct loan
disbursements................... 19 18 5
1251 Repayments: Repayments and
prepayments..................... -17 -15 -12
1263 Write-offs for default: Direct
loans........................... -3 -2
--------- --------- ----------
1290 Outstanding, end of year........ 134 134 125
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from direct loans obligated in 1992 and beyond
(including modifications of direct loans that resulted from obligations
in any year). The amounts in this account are a means of financing and
are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4148-0-
3-376
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
102
64
Investments in US securities:
1106
Receivables, net
24
1206
Non-Federal assets: Receivables, net
2
1
Net value of assets related to
post-1991 direct loans
receivable:
1401
Direct loans receivable, gross
132
134
1405
Allowance for subsidy cost (-)
-42
-24
1499
Net present value of assets related to direct loans
90
110
1999
Total assets
194
199
LIABILITIES:
Federal liabilities:
2103
Debt
191
154
2105
Other
43
2207
Non-Federal liabilities: Other
3
2
2999
Total liabilities
194
199
4999
Total liabilities and net position
194
199
-----------------------------------------------------------------------------------------------
Business Guaranteed Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Default claims.................... 1,547 1,660 1,650
00.02 Interest on Treasury borrowing.... 127 275 250
00.05 Other Expenses.................... 131 120 15
--------- --------- ----------
00.91 Direct obligations--Subtotal.... 1,805 2,055 1,915
--------- --------- ----------
08.02 Payment of downward reestimate to
receipt account................. 323 719
08.04 Payment of interest on downward
reestimate to receipt account... 147 231
--------- --------- ----------
08.91 Direct obligations--Subtotal.... 470 950
--------- --------- ----------
10.00 Total new obligations........... 2,275 3,005 1,915
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 3,072 2,514 2,343
22.00 New financing authority (gross)... 3,713 2,834 1,925
22.10 Resources available from
recoveries of prior year
obligations..................... 10
22.60 Portion applied to repay debt..... -2,006
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 4,789 5,348 4,268
23.95 Total new obligations............. -2,275 -3,005 -1,915
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 2,514 2,343 2,353
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 470 950 300
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 3,288 1,884 1,625
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... -45
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 3,243 1,884 1,625
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 3,713 2,834 1,925
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. -39 16 271
73.10 Total new obligations............. 2,275 3,005 1,915
73.20 Total financing disbursements
(gross)......................... -2,255 -2,750 -2,100
73.45 Recoveries of prior year
obligations..................... -10
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... 45
--------- --------- ----------
[[Page 1096]]
74.40 Obligated balance, end of year.. 16 271 86
87.00 other............................. 2,255 2,750 2,100
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -35
88.00 Upward reestimate............. -1,357 -329
88.00 Interest on reestimate........ -550 -50
88.00 Other.........................
88.25 Interest on uninvested funds.. -170 -130 -130
88.40 Fees.......................... -593 -700 -725
88.40 Recoveries.................... -546 -650 -750
88.40 other......................... -38 -25 -20
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -3,289 -1,884 -1,625
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. 45
88.96 Portion of offsetting
collections (cash) credited to
expired accounts.............. 1
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 470 950 300
90.00 Financing disbursements........... -1,033 866 475
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4149-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on commitments:
2111 Limitation on guaranteed loans
made by private lenders......... 29,939 39,500 40,000
--------- --------- ----------
2150 Total guaranteed loan
commitments................... 29,939 39,500 40,000
2199 Guaranteed amount of guaranteed
loan commitments................ 23,000 29,625 30,400
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 56,962 72,880 82,670
2231 Disbursements of new guaranteed
loans........................... 18,551 24,490 22,940
2251 Repayments and prepayments........ -11,348 -12,800 -14,700
Adjustments:
2261 Terminations for default that
result in loans receivable.... -1,547 -1,900 -2,100
2264 Other adjustments, net.......... 10,262
--------- --------- ----------
2290 Outstanding, end of year........ 72,880 82,670 88,810
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 69,726 78,536 84,370
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 2,769 4,204 5,219
2331 Disbursements for guaranteed
loan claims................... 1,547 1,900 2,100
2351 Repayments of loans receivable.. -402 -610 -730
2361 Write-offs of loans receivable.. -219 -275 -275
2364 Other adjustments, net.......... 509
--------- --------- ----------
2390 Outstanding, end of year...... 4,204 5,219 6,314
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from loan guarantees committed in 1992 and beyond
(including modifications of loan guarantees that resulted from
commitments in any year). The amounts in this account are a means of
financing and are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4149-0-
3-376
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
3,032
2,529
Investments in US securities:
1106
Receivables, net
1,763
354
1206
Non-Federal assets: Receivables, net
53
50
Net value of assets related to
post-1991 acquired defaulted
guaranteed loans receivable:
1501
Defaulted guaranteed loans receivable, gross
2,769
4,204
1504
Foreclosed property
15
1505
Allowance for subsidy cost (-)
-2,459
-3,154
1599
Net present value of assets related to defaulted guaranteed loans
310
1,065
1999
Total assets
5,158
3,998
LIABILITIES:
Federal liabilities:
2103
Debt
2,492
956
2105
Other
488
889
Non-Federal liabilities:
2201
Accounts payable
23
31
2204
Liabilities for loan guarantees
2,175
2,143
2207
Other
-20
-21
2999
Total liabilities
5,158
3,998
4999
Total liabilities and net position
5,158
3,998
-----------------------------------------------------------------------------------------------
Business Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Interest Expense to Treasury...... 6 4 3
00.05 Guaranteed loan default claims.... 5 3 2
00.09 Other expenses.................... 11 7 5
--------- --------- ----------
10.00 Total new obligations........... 22 14 10
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 93 78
22.00 New budget authority (gross)...... 115 78 56
22.10 Resources available from
recoveries of prior year
obligations..................... 2
22.40 Capital transfer to general fund.. -93 -127 -34
22.60 Portion applied to repay debt to
FFB............................. -17 -15 -12
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 100 14 10
23.95 Total new obligations............. -22 -14 -10
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 78
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50 30 20
69.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 65 48 36
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 115 78 56
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 15 10 6
73.10 Total new obligations............. 22 14 10
73.20 Total outlays (gross)............. -25 -18 -13
73.45 Recoveries of prior year
obligations..................... -2
--------- --------- ----------
74.40 Obligated balance, end of year.. 10 6 3
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 25 18 13
Loan repayments:
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
Loan repayments:
88.40 Financing Investtment
programs-principal.......... -37 -25 -17
88.40 Interest Income-Business &
investment.................. -6 -5 -4
88.40 Fees.......................... -1 -1 -1
88.40 Collection on FFB loans....... -17 -15 -12
88.40 Other Income-both Business and
Investment.................. -4 -2 -2
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -65 -48 -36
----------------------------------------------------------------------------
[[Page 1097]]
Net budget authority and outlays:
89.00 Budget authority.................. 50 30 20
90.00 Outlays........................... -40 -30 -23
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 4 9 4
1232 Disbursements: Purchase of loans
assets from the public..........
1251 Repayments: Repayments and
prepayments..................... -2 -4 -2
Write-offs for default:
1263 Direct loans.................... -1
1264 Other adjustments, net\1\ ...... 7
--------- --------- ----------
1290 Outstanding, end of year........ 9 4 2
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 57 40 25
1251 Repayments: Repayments and
prepayments..................... -17 -15 -12
--------- --------- ----------
1290 Outstanding, end of year........ 40 25 13 \1\
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 531 377 268
2251 Repayments and prepayments........ -150 -106 -75
2261 Adjustments: Terminations for
default that result in loans
receivable...................... -4 -3 -2
--------- --------- ----------
2290 Outstanding, end of year........ 377 268 191
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 331 214 168
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 79 55 44
2331 Disbursements for guaranteed
loan claims................... 4 3 2
2351 Repayments of loans receivable.. -20 -13 -11
2361 Write-offs of loans receivable.. -2 -1 -1
2364 Other adjustments, net.......... -6
--------- --------- ----------
2390 Outstanding, end of year...... 55 44 34
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records all cash flows to and from the Government resulting
from SBA direct loans obligated and loan guarantees committed prior to
1992. This account is shown on a cash basis. All new activity in this
program in 1992 and beyond (including modifications of direct loans or
loan guarantees made in any year) is recorded in corresponding program
and financing accounts.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4154-0-
3-376
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
108
88
1206
Non-Federal assets: Receivables, net
8
2
1601
Direct loans, gross
133
104
1604
Direct loans and interest receivable, net
133
104
1699
Value of assets related to direct loans
133
104
1901
Other Federal assets: Other assets
35
35
1999
Total assets
284
229
LIABILITIES:
Federal liabilities:
2101
Accounts payable
8
6
2103
Debt
58
41
2105
Other Liabilities
183
156
Non-Federal liabilities:
2201
Accounts payable
8
4
2207
Other Liabilities
27
22
2999
Total liabilities
284
229
4999
Total liabilities and net position
284
229
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4154-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
42.0 Insurance claims and indemnities.. 16 10 7
43.0 Interest and dividends............ 6 4 3
--------- --------- ----------
99.9 Total new obligations........... 22 14 10
---------------------------------------------------------------------------
Disaster Loans Program Account
(including transfers of funds)
[From unobligated balances under this heading, in fiscal year 2006,
not to exceed $9,000,000 may be transferred to and merged with
appropriations for Salaries and Expenses for indirect administrative
expenses, of which $1,500,000 is for the Office of Inspector General of
the Small Business Administration for audits and reviews of disaster
loans and the disaster loan program and shall be transferred to and
merged with appropriations for the Office of Inspector General.] For the
cost of direct loans authorized by section 7(b) of the Small Business
Act, $85,140,000, to remain available until expended: Provided, That
such costs, including the cost of modifying such loans, shall be as
defined in section 502 of the Congressional Budget Act of 1974. In
addition, for administrative expenses to carry out the direct loan
program authorized by section 7(b), of the Small Business Act,
$113,850,000, of which $495,000 is for the Office of Inspector General
of the Small Business Administration for audits and reviews of disaster
loans and the disaster loan program and shall be transferred to and
merged with appropriations for the Office of Inspector General; of which
$104,445,000 is for direct administrative expenses of loan making and
servicing to carry out the direct loan program, to remain available
until expended, and which may be transferred and merged with
appropriations for Salaries and Expenses; and of which $8,910,000 is for
indirect administrative expenses, which may be transferred and merged
with appropriations for Salaries and Expenses.
(rescission)
Of the unobligated balances available under this heading, $3,700,000
are rescinded. (Science, State, Justice, Commerce, and Related Agencies
Appropriations Act, 2006.)
[(including transfer of funds)]
[For an additional amount for the ``Disaster Loans Program
Account'' authorized by section 7(b) of the Small Business Act, for
necessary expenses related to hurricanes in the Gulf of Mexico in
calendar year 2005 and other natural disasters, $264,500,000, to remain
available until expended: Provided, That such costs, including the cost
of modifying such loans shall be as defined in section 502 of the
Congressional Budget Act of 1974.
In addition, for administrative expenses to carry out the direct
loan program authorized by section 7(b), $176,500,000, to remain
available until expended, which may be transferred to and merged with
``Salaries and Expenses'': Provided, That the amounts provided under
this heading are designated as an emergency requirement pursuant to
section 402 of H. Con. Res. 95 (109th Congress), the concurrent
resolution on the budget for fiscal year 2006: Provided further,That no
funds shall be transferred to the appropriation for ``Salaries and
Expenses'' for indirect administrative expenses.] (Emergency
Supplemental Appropriations Act to Address Hurricanes in the Gulf of
Mexico and Pandemic Influenza, 2006.)
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loan subsidy............... 163 671 118
00.05 Upward reestimate of direct loans. 223 70
00.06 Interest on upward reestimates of
direct loans.................... 114 10
00.09 Administrative expense............ 540 187 114
--------- --------- ----------
10.00 Total new obligations........... 1,040 938 232
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 29 386 4
[[Page 1098]]
22.00 New budget authority (gross)...... 1,377 521 195
22.10 Resources available from
recoveries of prior year
obligations..................... 20 35 33
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 1,426 942 232
23.95 Total new obligations............. -1,040 -938 -232
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 386 4
----------------------------------------------------------------------------
New budget authority (gross), detail:
Discretionary:
40.00 Appropriation................... 113 199
40.00 Appropriation (supplemental).... 929 441
40.35 Appropriation permanently
reduced....................... -2
40.36 Unobligated balance permanently
reduced....................... -4
--------- --------- ----------
43.00 Appropriation (total
discretionary).............. 1,040 441 195
Mandatory:
60.00 Appropriation................... 337 80
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 1,377 521 195
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 43 59 33
73.10 Total new obligations............. 1,040 938 232
73.20 Total outlays (gross)............. -1,003 -929 -153
73.45 Recoveries of prior year
obligations..................... -20 -35 -33
74.10 Change in uncollected customer
payments from Federal sources
(expired)....................... -1
--------- --------- ----------
74.40 Obligated balance, end of year.. 59 33 79
----------------------------------------------------------------------------
Outlays (gross), detail:
86.90 Outlays from new discretionary
authority....................... 640 441 153
86.93 Outlays from discretionary
balances........................ 26 408
86.97 Outlays from new mandatory
authority....................... 337 80
--------- --------- ----------
87.00 Total outlays (gross)........... 1,003 929 153
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 1,377 521 195
90.00 Outlays........................... 1,003 929 153
---------------------------------------------------------------------------
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in
millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Direct loan levels supportable by subsidy
budget authority:
115001Disaster Loan..................... 1,271 4,587 900
--------- --------- ----------
115901Total direct loan levels.......... 1,271 4,587 900
Direct loan subsidy (in percent):
132001Disaster Loan..................... 12.86 14.64 13.18
--------- --------- ----------
132901Weighted average subsidy rate..... 12.86 14.64 13.18
Direct loan subsidy budget authority:
133001Disaster Loan..................... 163 671 118
--------- --------- ----------
133901Total subsidy budget authority.... 163 671 118
Direct loan subsidy outlays:
134001Disaster Loan..................... 127 671 69
--------- --------- ----------
134901Total subsidy outlays............. 127 671 69
Direct loan upward reestimate subsidy budget
authority:
135001Disaster Loan..................... 337 80
--------- --------- ----------
135901Total upward reestimate budget
authority....................... 337 80
Direct loan downward reestimate subsidy budget
authority:
137001Disaster Loan..................... -70 -14
--------- --------- ----------
137901Total downward reestimate budget
authority....................... -70 -14
----------------------------------------------------------------------------
Administrative expense data:
351001Budget authority.................. 540 187 114
359001Outlays from new authority........ 463 170 81
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this account records, for loans made pursuant to Section 7(b) of the
Small Business Act, as amended, the subsidy costs associated with the
direct loans obligated in 1992 and beyond (including modifications of
direct loans or loan guarantees that resulted from obligations or
commitments in any year), as well as administrative expenses of this
program. The subsidy amounts are estimated on a present value basis; the
administrative expenses are estimated on a cash basis.
Disaster loans made pursuant to Section 7(b) of the Small Business
Act provide Federal assistance for non-farm, private sector disaster
losses. Through this program, SBA helps homeowners, renters, businesses
of all sizes, and non-profit organizations pay for the cost of
rebuilding and repairing structures damaged by natural disasters. The
program is the only form of SBA assistance not limited to small
businesses. The program provides subsidized loans of up to 30 years to
borrowers who have incurred uninsured physical losses or economic injury
as the result of a natural disaster.
The 2007 Budget proposes to continue providing preferential loan
terms to victims of disasters. However, to more appropriately tailor
Federal assisatance to borrower needs and contain the escalating costs
of the loans, the Budget proposes to adopt graduated interest rates for
the Disaster Loan program. During the first five years after a disaster,
interest rates would remain well below the Treasury's interest rate for
most borrowers. Thereafter, rates would graduate to a comparable-
maturity Treasury instrument. This structure would continue to provide
borrowers with deep interest subsidies when they need them most--
immediately after a disaster--and after five years, subsidies would
continue at a reduced level.
In 2007, the Budget supports $900 million in loans. The subsidy rate
is 13.18 percent.
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-1152-0-1-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
25.2 Other services.................... 540 187 114
41.0 Grants, subsidies, and
contributions................... 500 751 118
--------- --------- ----------
99.9 Total new obligations........... 1,040 938 232
---------------------------------------------------------------------------
Disaster Direct Loan Financing Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Direct loans...................... 1,271 4,587 900
00.02 Interest on Treasury borrowing.... 406 600 300
00.03 Other............................. 26
--------- --------- ----------
00.91 Direct obligations--Subtotal.... 1,703 5,187 1,200
08.02 Payment of downward reestimate to
a receipt account............... 27 9
08.04 Payment of interest on downward
reestimate to a receipt account. 43 5
--------- --------- ----------
08.91 Direct obligations--Subtotal.... 70 14
--------- --------- ----------
10.00 Total new obligations........... 1,773 5,201 1,200
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 2,844 3,192
22.00 New financing authority (gross)... 4,940 5,720 1,491
22.10 Resources available from
recoveries of prior year
obligations..................... 171
22.60 Portion applied to repay debt..... -2,990 -3,711 -291
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 4,965 5,201 1,200
23.95 Total new obligations............. -1,773 -5,201 -1,200
--------- --------- ----------
[[Page 1099]]
24.40 Unobligated balance carried
forward, end of year.......... 3,192
----------------------------------------------------------------------------
New financing authority (gross), detail:
Mandatory:
67.10 Authority to borrow............. 3,713 3,915 782
Spending authority from offsetting
collections:
Discretionary:
68.00 Offsetting collections (cash). 1,211 1,805 709
68.10 Change in uncollected customer
payments from Federal
sources (unexpired)......... 16
--------- --------- ----------
68.90 Spending authority from
offsetting collections
(total discretionary)....... 1,227 1,805 709
--------- --------- ----------
70.00 Total new financing authority
(gross)....................... 4,940 5,720 1,491
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 293 404 605
73.10 Total new obligations............. 1,773 5,201 1,200
73.20 Total financing disbursements
(gross)......................... -1,475 -5,000 -993
73.45 Recoveries of prior year
obligations..................... -171
74.00 Change in uncollected customer
payments from Federal sources
(unexpired)..................... -16
--------- --------- ----------
74.40 Obligated balance, end of year.. 404 605 812
87.00 Total financing disbursements
(gross)......................... 1,475 5,000 993
----------------------------------------------------------------------------
Offsets:
Against gross financing authority and
financing disbursements:
Offsetting collections (cash)
from:
88.00 Payments from program account. -127 -671 -69
88.00 Upward reestimate............. -223 -70
88.00 Interest on upward reestimate. -114 -10
88.25 Interest income from Treasury. -269 -500 -275
88.40 Repayments of principal, net.. -478 -554 -350
88.40 Collection of misc.
receivables................. -15
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -1,211 -1,805 -709
Against gross financing authority only:
88.95 Change in receivables from
program accounts.............. -16
----------------------------------------------------------------------------
Net financing authority and financing
disbursements:
89.00 Financing authority............... 3,713 3,915 782
90.00 Financing disbursements........... 265 3,195 284
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4150-0-3-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Position with respect to appropriations act
limitation on obligations:
1111 Limitation on direct loans........
1131 Direct loan obligations exempt
from limitation................. 1,271 4,587 900
--------- --------- ----------
1150 Total direct loan obligations... 1,271 4,587 900
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 3,034 3,618 6,534
1231 Disbursements: Direct loan
disbursements................... 995 3,532 693
1251 Repayments: Repayments and
prepayments..................... -372 -554 -350
Write-offs for default:
1263 Direct loans.................... -51 -62 -60
1264 Other adjustments, net.......... 12
--------- --------- ----------
1290 Outstanding, end of year........ 3,618 6,534 6,817
---------------------------------------------------------------------------
As required by the Federal Credit Reform Act of 1990, as amended,
this non-budgetary account records all cash flows to and from the
Government resulting from direct loans obligated in 1992 and beyond
(including modifications of direct loans that resulted from obligations
in any year). The amounts in this account are a means of financing and
are not included in the budget totals.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4150-0-
3-453
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
Federal assets:
1101
Fund balances with Treasury
3,137
3,595
Investments in US securities:
1106
Interest/Accounts Receivables
375
79
Net value of assets related to
post-1991 direct loans
receivable:
1401
Direct loans receivable, gross
3,034
3,618
1405
Allowance for subsidy cost (-)
-613
-689
1499
Net present value of assets related to direct loans
2,421
2,929
1999
Total assets
5,933
6,603
LIABILITIES:
Federal liabilities:
2103
Debt
5,863
6,585
2105
Other
68
18
2201
Non-Federal liabilities: Accounts payable
2
2999
Total liabilities
5,933
6,603
4999
Total liabilities and net position
5,933
6,603
-----------------------------------------------------------------------------------------------
Disaster Loan Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
01.01 Interest expense to Treasury...... 2 3 1
01.03 Other expenses.................... 2 2
--------- --------- ----------
10.00 Total new obligations........... 2 5 3
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 61 62
22.00 New budget authority from
offsetting collections (gross).. 64 21 12
22.40 Capital transfer to general fund.. -61 -78 -9
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 64 5 3
23.95 Total new obligations............. -2 -5 -3
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 62
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 50 10 5
69.00 Spending authority from offsetting
collections: Offsetting
collections (cash).............. 14 11 7
--------- --------- ----------
70.00 Total new budget authority
(gross)....................... 64 21 12
----------------------------------------------------------------------------
Change in obligated balances:
72.40 Obligated balance, start of year.. 3 2 4
73.10 Total new obligations............. 2 5 3
73.20 Total outlays (gross)............. -3 -3 -2
--------- --------- ----------
74.40 Obligated balance, end of year.. 2 4 5
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 3 3 2
----------------------------------------------------------------------------
Offsets:
Against gross budget authority and outlays:
Offsetting collections (cash)
from:
88.40 Loan repayments............... -8 -9 -5
88.40 Other collection.............. -6 -2 -2
--------- --------- ----------
88.90 Total, offsetting collections
(cash)...................... -14 -11 -7
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 50 10 5
90.00 Outlays........................... -11 -8 -5
---------------------------------------------------------------------------
Status of Direct Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Cumulative balance of direct loans
outstanding:
1210 Outstanding, start of year........ 35 28 21
1251 Repayments: Repayments and
prepayments..................... -8 -6 -5
Write-offs for default:
1263 Direct loans.................... -1
1264 Other adjustments, net.......... 1 1
--------- --------- ----------
1290 Outstanding, end of year........ 28 21 17
---------------------------------------------------------------------------
[[Page 1100]]
As required by the Federal Credit Reform Act of 1990, as amended,
this account records all cash flows to and from the Government resulting
from SBA disaster direct loans obligated prior to 1992. This account is
shown on a cash basis. All new activity in this program in 1992 and
beyond (including modifications of direct loans or loan guarantees made
in any year) is recorded in corresponding program and financing
accounts.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4153-0-
3-453
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
64
64
1601
Direct loans, net
35
28
1699
Value of assets related to direct loans
35
28
1901
Other Federal assets: Other assets
3
1999
Total assets
102
92
LIABILITIES:
Federal liabilities:
2101
Accounts payable
3
2
2105
Other
99
90
2999
Total liabilities
102
92
4999
Total liabilities and net position
102
92
-----------------------------------------------------------------------------------------------
Object Classification (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4153-0-3-453 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
25.2 Other services.................... 2 2
43.0 Interest and dividends............ 2 3 1
--------- --------- ----------
99.9 Total new obligations........... 2 5 3
---------------------------------------------------------------------------
Pollution Control Equipment Fund Liquidating Account
Program and Financing (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Obligations by program activity:
00.01 Disbursement for Guaranty Loan
Claim........................... 3 3
--------- --------- ----------
10.00 Total new obligations (object
class 42.0)................... 3 3
----------------------------------------------------------------------------
Budgetary resources available for obligation:
21.40 Unobligated balance carried
forward, start of year.......... 3 3
22.00 New budget authority (gross)...... 3 3 3
22.40 Capital transfer to general fund.. -3 -3
--------- --------- ----------
23.90 Total budgetary resources
available for obligation...... 3 3 3
23.95 Total new obligations............. -3 -3
--------- --------- ----------
24.40 Unobligated balance carried
forward, end of year.......... 3
----------------------------------------------------------------------------
New budget authority (gross), detail:
Mandatory:
60.00 Appropriation................... 3 3 3
----------------------------------------------------------------------------
Change in obligated balances:
73.10 Total new obligations............. 3 3
73.20 Total outlays (gross)............. -3 -3
----------------------------------------------------------------------------
Outlays (gross), detail:
86.97 Outlays from new mandatory
authority....................... 3 3
----------------------------------------------------------------------------
Net budget authority and outlays:
89.00 Budget authority.................. 3 3 3
90.00 Outlays........................... 3 3
---------------------------------------------------------------------------
Status of Guaranteed Loans (in millions of dollars)
----------------------------------------------------------------------------
Identification code 73-4147-0-3-376 2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Cumulative balance of guaranteed loans
outstanding:
2210 Outstanding, start of year........ 6 4 1
2251 Repayments and prepayments........ -2 -2 -1
Adjustments:
2261 Terminations for default that
result in loans receivable.... -1
2264 Other adjustments, net..........
--------- --------- ----------
2290 Outstanding, end of year........ 4 1
----------------------------------------------------------------------------
Memorandum:
2299 Guaranteed amount of guaranteed
loans outstanding, end of year.. 4 1
Addendum:
Cumulative balance of defaulted guaranteed
loans that result in loans receivable:
2310 Outstanding, start of year...... 49 20 23
2331 Disbursements for guaranteed
loan claims................... 3 3
2361 Write-offs of loans receivable.. -29
--------- --------- ----------
2390 Outstanding, end of year...... 20 23 26
---------------------------------------------------------------------------
Public Law 94-305 established this fund to alleviate the adverse
impact of pollution regulations on small businesses. As a result of the
elimination of tax exempt financing associated with the Pollution
Control Guaranteed program, no new activity is anticipated for this
program.
Balance Sheet (in millions of dollars)
-----------------------------------------------------------------------------------------------
Identification code 73-4147-0-
3-376
2004 actual
2005 actual
-----------------------------------------------------------------------------------------------
ASSETS:
1101
Federal assets: Fund balances with Treasury
3
3
1603
Allowance for estimated uncollectible loans and interest (-)
-15
1701
Defaulted guaranteed loans, gross
16
20
1999
Total assets
19
8
LIABILITIES:
2104
Federal liabilities: Resources payable to Treasury
19
8
2999
Total liabilities
19
8
4999
Total liabilities and net position
19
8
-----------------------------------------------------------------------------------------------
Administrative Provision--Small Business Administration
Not to exceed 5 percent of any appropriation made available for the
current fiscal year for the Small Business Administration in this Act
may be transferred between such appropriations, but no such
appropriation shall be increased by more than 10 percent by any such
transfers: Provided, That any transfer pursuant to this paragraph shall
be treated as a reprogramming of funds under section 605 of this Act and
shall not be available for obligation or expenditure except in
compliance with the procedures set forth in that section. (Science,
State, Justice, Commerce, and Related Agencies Appropriations Act,
2006.)
General Fund Receipt Accounts
(in millions of dollars)
----------------------------------------------------------------------------
2005 actual 2006 est. 2007 est.
----------------------------------------------------------------------------
Offsetting receipts from the public:
73-272130 Disaster loan program,
Downward reestimates of subsidies... 70 14
73-272230 Business loan program,
Downward reestimates of subsidies... 470 992
--------- --------- ----------
General Fund Offsetting receipts from
the public............................. 540 1,006
---------------------------------------------------------------------------