#

###

###

###

###

###

###

###

###

###

###

###

###

###

###

###

###

###

##

##

###

    [Appendix]
    [Detailed Budget Estimates by Agency]
    [Small Business Administration]
    [From the U.S. Government Publishing Office, www.gpo.gov]

             <h1>SMALL BUSINESS ADMINISTRATION

             </h1>

          SMALL BUSINESS ADMINISTRATION

          Federal Funds
             Salaries and Expenses

             Salaries and expensesFor necessary expenses, not otherwise provided for, of the Small Business Administration, including hire of passenger motor
                vehicles as authorized by sections 1343 and 1344 of title 31, United States Code, and not to exceed $3,500 for official reception
                and representation expenses, $265,000,000:  Provided, That the Administrator is authorized to charge fees to cover the cost of publications developed by the Small Business Administration,
                and certain loan 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 remain
                available until expended, for carrying out these purposes without further appropriations: Provided further, That the Small Business Administration may accept gifts in an amount not to exceed $4,000,000 and may co-sponsor activities,
                each in accordance with section 132(a) of division K of Public Law 108–447, during fiscal year 2018: Provided further, That $6,100,000 shall be available for the Loan Modernization and Accounting System, to be available until September 30,
                2019.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0100–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0001
                      Executive direction
                      72
                      77
                      76

                      0002
                      Capital Access
                      88
                      82
                      81

                      0003
                      Gov. Contracting/ Bus. Development
                      29
                      28
                      28

                      0004
                      Entrepreneurial Development
                      8
                      12
                      12

                      0005
                      Chief Operating Office
                      26
                      26
                      26

                      0006
                      Office of Chief Information Officer
                      37
                      37
                      37

                      0007
                      Regional & district offices
                      99
                      99
                      99

                      0008
                      Agency wide costs
                      51
                      64
                      64

                      0009
                      Non credit programs
                      3
                      2
                      2

                      0012
                      Disaster
                      214
                      176
                      174

                      0013
                      Investment & Innovation
                      16
                      16
                      16

                      0014
                      International Trade
                      6
                      6
                      6

                      0900
                      Total new obligations, unexpired accounts
                      649
                      625
                      621

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      248
                      230
                      230

                      1021
                      Recoveries of prior year unpaid obligations
                      9

                      1033
                      Recoveries of prior year paid obligations
                      1

                      1050
                      Unobligated balance (total)
                      258
                      230
                      230

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      268
                      267
                      265

                      1120
                      Appropriations transferred to other accts [073–0400]
                      –2

                      1160
                      Appropriation, discretionary (total)
                      266
                      267
                      265

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      186
                      186
                      184

                      1700
                      Collected
                      174
                      172
                      172

                      1750
                      Spending auth from offsetting collections, disc (total)
                      360
                      358
                      356

                      1900
                      Budget authority (total)
                      626
                      625
                      621

                      1930
                      Total budgetary resources available
                      884
                      855
                      851

                      Memorandum (non-add) entries:

                      1940
                      Unobligated balance expiring
                      –5

                      1941
                      Unexpired unobligated balance, end of year
                      230
                      230
                      230

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      174
                      153
                      154

                      3010
                      New obligations, unexpired accounts
                      649
                      625
                      621

                      3011
                      Obligations ("upward adjustments"), expired accounts
                      10

                      3020
                      Outlays (gross)
                      –647
                      –624
                      –623

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –9

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –24

                      3050
                      Unpaid obligations, end of year
                      153
                      154
                      152

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      174
                      153
                      154

                      3200
                      Obligated balance, end of year
                      153
                      154
                      152

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      626
                      625
                      621

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      537
                      415
                      413

                      4011
                      Outlays from discretionary balances
                      110
                      209
                      210

                      4020
                      Outlays, gross (total)
                      647
                      624
                      623

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4030
                      Federal sources
                      –339
                      –339
                      –337

                      4033
                      Non-Federal sources
                      –22
                      –19
                      –19

                      4040
                      Offsets against gross budget authority  and outlays (total)
                      –361
                      –358
                      –356

                      Additional offsets against gross budget authority only:

                      4053
                      Recoveries of prior year paid obligations, unexpired accounts
                      1

                      4060
                      Additional offsets against budget authority only (total)
                      1

                      4070
                      Budget authority, net (discretionary)
                      266
                      267
                      265

                      4080
                      Outlays, net (discretionary)
                      286
                      266
                      267

                      4180
                      Budget authority, net (total)
                      266
                      267
                      265

                      4190
                      Outlays, net (total)
                      286
                      266
                      267

             This account funds the administrative expenses of SBA headquarters and field office operations. Appropriations for the administration
                of the disaster and business loan programs are transferred to and merged with this account. The 2018 Budget provides $6.1
                million in funding for the continued modernization of the loan management accounting systems, which will improve oversight
                of SBA's more than $124 billion portfolio of loans and loan guarantees. Funding is also requested for core agency activities,
                including information technology investments and human capital development.  The Budget also supports SBA enterprise-wide
                technology modernization initiatives including hardware, software and application standardization, mobile shared services
                implementation, security vulnerability reduction, infrastructure upgrades, data center consolidation and migration to the
                cloud.

          Object Classification (in millions of dollars)

                      Identification code 073–0100–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      Personnel compensation:

                      11.1
                      Full-time permanent
                      191
                      210
                      210

                      11.3
                      Other than full-time permanent
                      7
                      7
                      7

                      11.5
                      Other personnel compensation
                      4
                      4
                      4

                      11.9
                      Total personnel compensation
                      202
                      221
                      221

                      12.1
                      Civilian personnel benefits
                      65
                      70
                      70

                      21.0
                      Travel and transportation of persons
                      5
                      5
                      5

                      23.1
                      Rental payments to GSA
                      35
                      42
                      42

                      23.3
                      Communications, utilities, and miscellaneous charges
                      8
                      8
                      8

                      25.2
                      Other services from non-Federal sources
                      111
                      94
                      92

                      25.3
                      Other purchases of goods and services from Government accounts (Disaster Administrative Expenses)
                      214
                      176
                      174

                      26.0
                      Supplies and materials
                      3
                      3
                      3

                      31.0
                      Equipment
                      3
                      3
                      3

                      41.0
                      Grants, subsidies, and contributions
                      3
                      3
                      3

                      99.0
                      Direct obligations
                      649
                      625
                      621

                      99.9
                      Total new obligations, unexpired accounts
                      649
                      625
                      621

          Employment Summary

                      Identification code 073–0100–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      1001
                      Direct civilian full-time equivalent employment
                      3,080
                      3,115
                      3,060

             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,
                $19,900,000.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0200–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0001
                      Audit
                      7
                      8
                      8

                      0002
                      Investigations
                      10
                      11
                      11

                      0003
                      Management and Administration
                      1
                      1
                      1

                      0004
                      General Office
                      2
                      2
                      2

                      0900
                      Total new obligations, unexpired accounts
                      20
                      22
                      22

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      6
                      5
                      3

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      20
                      20
                      20

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      1
                      1
                      1

                      1900
                      Budget authority (total)
                      21
                      21
                      21

                      1930
                      Total budgetary resources available
                      27
                      26
                      24

                      Memorandum (non-add) entries:

                      1940
                      Unobligated balance expiring
                      –2
                      –1

                      1941
                      Unexpired unobligated balance, end of year
                      5
                      3
                      2

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      3
                      3
                      4

                      3010
                      New obligations, unexpired accounts
                      20
                      22
                      22

                      3020
                      Outlays (gross)
                      –20
                      –21
                      –21

                      3050
                      Unpaid obligations, end of year
                      3
                      4
                      5

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      3
                      3
                      4

                      3200
                      Obligated balance, end of year
                      3
                      4
                      5

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      21
                      21
                      21

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      18
                      19
                      19

                      4011
                      Outlays from discretionary balances
                      2
                      2
                      2

                      4020
                      Outlays, gross (total)
                      20
                      21
                      21

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4030
                      Federal sources
                      –1
                      –1
                      –1

                      4180
                      Budget authority, net (total)
                      20
                      20
                      20

                      4190
                      Outlays, net (total)
                      19
                      20
                      20

             The 2018 Budget proposes $19.9 million in new budget authority and $1 million transferred from the Disaster Loans Program
                account for a total of $20.9 million for the Office of Inspector General (OIG). This appropriation provides funds for agency-wide
                audit, investigative, and related functions to promote economy and efficiency in SBA operations and to prevent and detect
                waste, fraud, and abuse.

          Object Classification (in millions of dollars)

                      Identification code 073–0200–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      11
                      12
                      13

                      12.1
                      Civilian personnel benefits
                      4
                      5
                      5

                      25.2
                      Other services
                      4
                      4
                      3

                      99.0
                      Direct obligations
                      19
                      21
                      21

                      99.0
                      Reimbursable obligations
                      1
                      1
                      1

                      99.9
                      Total new obligations, unexpired accounts
                      20
                      22
                      22

          Employment Summary

                      Identification code 073–0200–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      1001
                      Direct civilian full-time equivalent employment
                      96
                      105
                      102

             Office of Advocacy

             For necessary expenses of the Office of Advocacy in carrying out the provisions of title II of Public Law 94–305 (15 U.S.C.
                634a et seq.) and the Regulatory Flexibility Act of 1980 (5 U.S.C. 601 et seq.), $9,120,000, to remain available until expended.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0300–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0001
                      Office of Advocacy (Direct)
                      9
                      9
                      9

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      1
                      1
                      1

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      9
                      9
                      9

                      1930
                      Total budgetary resources available
                      10
                      10
                      10

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      1
                      1
                      1

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      2
                      2
                      3

                      3010
                      New obligations, unexpired accounts
                      9
                      9
                      9

                      3020
                      Outlays (gross)
                      –9
                      –8
                      –8

                      3050
                      Unpaid obligations, end of year
                      2
                      3
                      4

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      2
                      2
                      3

                      3200
                      Obligated balance, end of year
                      2
                      3
                      4

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      9
                      9
                      9

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      8
                      8
                      8

                      4011
                      Outlays from discretionary balances
                      1

                      4020
                      Outlays, gross (total)
                      9
                      8
                      8

                      4180
                      Budget authority, net (total)
                      9
                      9
                      9

                      4190
                      Outlays, net (total)
                      9
                      8
                      8

             The 2018 Budget proposes $9.120 million in new budget authority. This appropriation provides funds for operations of the Office
                of Advocacy to carry out its statutory duties, including those under the Regulatory Flexibility Act. Pursuant to the funding
                authorization in Section 1602 (c) of the Small Business Jobs Act, SBA is requesting that the funds remain available until
                expended. The Office of Advocacy's advice and small business research help the Federal Government take into account the concerns
                of small businesses when it develops policies and regulations. The Office's regional advocates support regulatory flexibility
                at the State level, work with the regional Regulatory Fairness Boards established by the Small Business Regulatory Enforcement
                Fairness Act, and promote the use of Advocacy research and data products in the curricula of universities and other schools
                in their respective regions.

          Object Classification (in millions of dollars)

                      Identification code 073–0300–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      6
                      6
                      6

                      12.1
                      Civilian personnel benefits
                      2
                      2
                      2

                      25.2
                      Other services from non-Federal sources
                      1
                      1
                      1

                      99.9
                      Total new obligations, unexpired accounts
                      9
                      9
                      9

          Employment Summary

                      Identification code 073–0300–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      1001
                      Direct civilian full-time equivalent employment
                      50
                      51
                      52

             Entrepreneurial Development Program

             For necessary expenses of programs supporting entrepreneurial and small business development, $192,450,000, to remain available until September 30, 2019: Provided, That $110,000,000 shall be available to fund grants for performance in fiscal year 2018 or fiscal year 2019 as authorized by section 21 of the Small Business Act: Provided further, That $25,000,000 shall be for marketing, management, and technical assistance under section 7(m) of the Small Business Act
                (15 U.S.C. 636(m)(4)) by intermediaries that make microloans under the microloan program: Provided further, That $10,000,000 shall be available for grants to States to carry out export programs authorized under section 22(l) of the Small Business Act (15 U.S.C. 649(l)) to assist small business concerns.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0400–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0001
                      Non-Credit Programs
                      234
                      230
                      192

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      7
                      9
                      9

                      1021
                      Recoveries of prior year unpaid obligations
                      2

                      1050
                      Unobligated balance (total)
                      9
                      9
                      9

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      231
                      230
                      192

                      1121
                      Appropriations transferred from other acct [073–0100]
                      2

                      1160
                      Appropriation, discretionary (total)
                      233
                      230
                      192

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      2

                      1900
                      Budget authority (total)
                      235
                      230
                      192

                      1930
                      Total budgetary resources available
                      244
                      239
                      201

                      Memorandum (non-add) entries:

                      1940
                      Unobligated balance expiring
                      –1

                      1941
                      Unexpired unobligated balance, end of year
                      9
                      9
                      9

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      183
                      203
                      254

                      3010
                      New obligations, unexpired accounts
                      234
                      230
                      192

                      3011
                      Obligations ("upward adjustments"), expired accounts
                      2

                      3020
                      Outlays (gross)
                      –211
                      –179
                      –192

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –2

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –3

                      3050
                      Unpaid obligations, end of year
                      203
                      254
                      254

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      183
                      203
                      254

                      3200
                      Obligated balance, end of year
                      203
                      254
                      254

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      235
                      230
                      192

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      65
                      80
                      67

                      4011
                      Outlays from discretionary balances
                      146
                      99
                      125

                      4020
                      Outlays, gross (total)
                      211
                      179
                      192

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4030
                      Federal sources
                      –2

                      4180
                      Budget authority, net (total)
                      233
                      230
                      192

                      4190
                      Outlays, net (total)
                      209
                      179
                      192

             For 2018, this account supports SBA's core counseling, training and technical assistance programs, including Small Business
                Development Centers, SCORE, Women's Business Centers, Veterans' Business Outreach Centers, and Microloan technical assistance,
                as well as various entrepreneurial development initiatives. Some of the initiatives include Entrepreneurial Education, a program
                designed to train and develop small business owners who are poised for growth; the State Trade Expansion Program (STEP) ,
                which helps small businesses tap global markets and expand exports; and Veterans Outreach programs like the Boots to Business
                program, which provides entrepreneurship training to America's veterans transitioning to civilian life. The Budget also supports
                other place-based initiatives, such as the Hubzone Program and other outreach and contracting activities.

          Object Classification (in millions of dollars)

                      Identification code 073–0400–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      2
                      2
                      2

                      12.1
                      Civilian personnel benefits
                      1
                      2
                      2

                      25.2
                      Other services from non-Federal sources
                      22
                      22
                      22

                      41.0
                      Grants, subsidies, and contributions
                      209
                      204
                      166

                      99.9
                      Total new obligations, unexpired accounts
                      234
                      230
                      192

          Employment Summary

                      Identification code 073–0400–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      1001
                      Direct civilian full-time equivalent employment
                      22
                      25
                      25

             Surety Bond Guarantees Revolving Fund

             Program and Financing (in millions of dollars)

                      Identification code 073–4156–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0801
                      Reimbursable obligations
                      17
                      17
                      17

                      0900
                      Total new obligations (object class 42.0)
                      17
                      17
                      17

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      85
                      88
                      88

                      1033
                      Recoveries of prior year paid obligations
                      3

                      1050
                      Unobligated balance (total)
                      88
                      88
                      88

                      Budget authority:

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      17
                      17
                      17

                      1930
                      Total budgetary resources available
                      105
                      105
                      105

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      88
                      88
                      88

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1

                      1
                      1

                      3010
                      New obligations, unexpired accounts
                      17
                      17
                      17

                      3020
                      Outlays (gross)
                      –16
                      –17
                      –17

                      3050
                      Unpaid obligations, end of year
                      1
                      1
                      1

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year

                      1
                      1

                      3200
                      Obligated balance, end of year
                      1
                      1
                      1

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      17
                      17
                      17

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      16
                      17
                      17

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4033
                      Non-Federal sources
                      –20
                      –17
                      –17

                      Additional offsets against gross budget authority only:

                      4053
                      Recoveries of prior year paid obligations, unexpired accounts
                      3

                      4080
                      Outlays, net (discretionary)
                      –4

                      4180
                      Budget authority, net (total)

                      4190
                      Outlays, net (total)
                      –4

             SBA is authorized to issue bond guarantees to surety companies for construction, service, and supply contracts or work orders,
                and to reimburse these sureties up to 90 percent of the losses sustained if the contractor defaults. SBA's guarantees provide
                an incentive for sureties to issue bonds to small contractors who could not otherwise secure them and compete in the contracting
                industry. It is estimated that there are sufficient funds in reserve to cover the cost of claim defaults in 2018. Therefore,
                no new appropriated funds are requested in the Budget.

             Business loans program account
             (including transfer of funds)For the cost of direct loans,  $3,438,172, 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 to section 502 of the Congressional Budget Act of 1974, during fiscal year 2018 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958 shall not exceed $7,500,000,000:
                Provided further, That during fiscal year 2018 commitments for general business loans authorized under section 7(a) of the Small Business Act shall not exceed $29,000,000,000 for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans: Provided further, That during fiscal year 2018 commitments for loans authorized under subparagraph (C) of section 502(7) of The Small Business Investment Act of 1958 (15
                U.S.C. 696(7)) shall not exceed $7,500,000,000: Provided further, That during fiscal year 2018 commitments to guarantee loans for debentures under section 303(b) of the Small Business Investment Act of 1958 shall not
                exceed $4,000,000,000: Provided further, That during fiscal year 2018, 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, $152,782,000 which may be transferred to and merged with the appropriations for Salaries and Expenses.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–1154–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0701
                      Direct loan subsidy
                      3
                      3
                      3

                      0705
                      Reestimates of direct loan subsidy
                      6
                      1

                      0706
                      Interest on reestimates of direct loan subsidy
                      2
                      1

                      0707
                      Reestimates of loan guarantee subsidy
                      205
                      520

                      0708
                      Interest on reestimates of loan guarantee subsidy
                      50
                      117

                      0709
                      Administrative expenses
                      153
                      152
                      153

                      0900
                      Total new obligations, unexpired accounts
                      419
                      794
                      156

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      108
                      115
                      121

                      1001
                      Discretionary unobligated balance brought fwd, Oct 1
                      108
                      115

                      1021
                      Recoveries of prior year unpaid obligations
                      7
                      5
                      5

                      1050
                      Unobligated balance (total)
                      115
                      120
                      126

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      156
                      156
                      156

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      263
                      639

                      1900
                      Budget authority (total)
                      419
                      795
                      156

                      1930
                      Total budgetary resources available
                      534
                      915
                      282

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      115
                      121
                      126

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      81
                      41
                      10

                      3010
                      New obligations, unexpired accounts
                      419
                      794
                      156

                      3020
                      Outlays (gross)
                      –447
                      –820
                      –157

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –7
                      –5
                      –5

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –5

                      3050
                      Unpaid obligations, end of year
                      41
                      10
                      4

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      81
                      41
                      10

                      3200
                      Obligated balance, end of year
                      41
                      10
                      4

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      156
                      156
                      156

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      154
                      154
                      153

                      4011
                      Outlays from discretionary balances
                      30
                      27
                      4

                      4020
                      Outlays, gross (total)
                      184
                      181
                      157

                      Mandatory:

                      4090
                      Budget authority, gross
                      263
                      639

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority
                      263
                      639

                      4180
                      Budget authority, net (total)
                      419
                      795
                      156

                      4190
                      Outlays, net (total)
                      447
                      820
                      157

          Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)

                      Identification code 073–1154–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct loan levels supportable by subsidy budget authority:

                      115001
                      7(m) Direct Microloans
                      35
                      34
                      36

                      115999
                      Total direct loan levels
                      35
                      34
                      36

                      Direct loan subsidy (in percent):

                      132001
                      7(m) Direct Microloans
                      8.87
                      9.08
                      8.91

                      132999
                      Weighted average subsidy rate
                      8.87
                      9.08
                      8.91

                      Direct loan subsidy budget authority:

                      133001
                      7(m) Direct Microloans
                      3
                      3
                      3

                      133999
                      Total subsidy budget authority
                      3
                      3
                      3

                      Direct loan subsidy outlays:

                      134001
                      7(m) Direct Microloans
                      4
                      3
                      3

                      134999
                      Total subsidy outlays
                      4
                      3
                      3

                      Direct loan reestimates:

                      135001
                      7(m) Direct Microloans
                      3

                      135010
                      7(m) Direct Microloans — ARRA
                      2

                      135011
                      Intermediary Lending Program
                      –1
                      –1

                      135999
                      Total direct loan reestimates
                      4
                      –1

                      Guaranteed loan levels supportable by subsidy budget authority:

                      215002
                      7(a) General Business Loan Guarantees
                      22,734
                      26,500
                      29,000

                      215004
                      Section 504 Certified Development Companies Debentures
                      4,673
                      7,500
                      7,500

                      215006
                      SBIC Debentures
                      2,514
                      4,000
                      4,000

                      215010
                      Secondary Market Guarantee
                      7,410
                      12,000
                      12,000

                      215027
                      504 Commercial Real Estate (CRE) Refinance Program
                      41
                      7,500
                      7,500

                      215999
                      Total loan guarantee levels
                      37,372
                      57,500
                      60,000

                      Guaranteed loan subsidy (in percent):

                      232002
                      7(a) General Business Loan Guarantees
                      0.00
                      0.00
                      0.00

                      232004
                      Section 504 Certified Development Companies Debentures
                      0.00
                      0.00
                      0.00

                      232006
                      SBIC Debentures
                      0.00
                      0.00
                      0.00

                      232010
                      Secondary Market Guarantee
                      0.00
                      0.00
                      0.00

                      232027
                      504 Commercial Real Estate (CRE) Refinance Program
                      0.00
                      0.00
                      0.00

                      232999
                      Weighted average subsidy rate
                      0.00
                      0.00
                      0.00

                      Guaranteed loan subsidy outlays:

                      234002
                      7(a) General Business Loan Guarantees
                      1

                      234004
                      Section 504 Certified Development Companies Debentures
                      25
                      26
                      26

                      234999
                      Total subsidy outlays
                      26
                      26
                      26

                      Guaranteed loan reestimates:

                      235002
                      7(a) General Business Loan Guarantees
                      –165
                      –94

                      235003
                      7(a) General Business Loan Guarantees—STAR

                      –1

                      235004
                      Section 504 Certified Development Companies Debentures
                      –722
                      –585

                      235006
                      SBIC Debentures
                      –155
                      –157

                      235007
                      SBIC Participating Securities
                      –77
                      –40

                      235008
                      SBIC New Market Venture Capital
                      8
                      12

                      235010
                      Secondary Market Guarantee
                      –17
                      511

                      235015
                      Secondary Market 504 First Mortgage Guarantees-ARRA
                      –7
                      4

                      235016
                      ARC Loan Guarantees—ARRA
                      –9
                      –1

                      235017
                      7(a) General Business Loan Guarantees—ARRA
                      34
                      16

                      235018
                      Section 504 Certified Development Companies—ARRA
                      –60
                      –30

                      235026
                      Section 504 Certified Development Companies Debentures—ARRA Ext
                      –54
                      –22

                      235027
                      504 Commercial Real Estate (CRE) Refinance Program
                      –62
                      –22

                      235028
                      7(a) Business Loan Guarantees—ARRA Extension
                      18
                      17

                      235999
                      Total guaranteed loan reestimates
                      –1,268
                      –392

             As required by the Federal Credit Reform Act of 1990, as amended, this account records 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 the business loan program.
                The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis.

             For 2018, the Budget proposes $156.2 million in new budget authority for the Business Loans Program account. This includes
                $152.8 million in administrative expenses funding and $3.4 million in credit subsidy for the direct Microloan Program. This
                subsidy supports a $35.9 million program level for direct Microloans. SBA's loan guarantee programs, the 7(a), 504, 504 Debt
                Refinancing, and SBIC programs, will operate with no subsidy appropriations in 2018.

             The Budget supports a program level of $29.0 billion in Section 7(a) loan guarantees that provide general business credit
                assistance. To address unanticipated spikes in lending, Section 521 of the SBA general provisions proposes administrative
                flexibility to increase the 7(a) program level by 15 percent if the program demand were to exhaust the appropriated limit,
                with notification to the Appropriations and Small Business committees. The 2018 Budget waives upfront fees on all 7(a) loans
                of $125,000 or less to spur lending in this market. The Budget also waives upfront fees on SBA Express loans to veterans and
                provides a 50 percent waiver of upfront fees on all non-SBA Express loans to veterans between $125,001 and $350,000. In addition,
                the Secondary Market Guarantee (SMG) Program allows SBA's fiscal agent to pool the guaranteed portion of 7(a) loans and sell
                the securities to investors. This mechanism provides liquidity to lenders participating in the 7(a) loan program. For 2018,
                the Budget proposes a program level of $12 billion in such securities.

             The guaranteed loan program authorized by Section 503 of the Small Business Investment Act of 1958 is for long-term, fixed-rate
                financing and supports a program level of $7.5 billion in 2018. The guaranteed loan program authorized by Section 502 of the
                Small Business Investment Act of 1958 is for refinancing existing commercial mortgage and equipment debt and also supports
                a program level of $7.5 billion in 2018. The Budget enhances these two programs by introducing a 25-year debenture to complement
                the existing 10-year and 20-year debentures. This new initiative will foster small business development by helping owners
                lower their operating expenses in a manner that is protective of taxpayer resources.

             The Budget supports innovative financial instruments through SBA's Small Business Investment Company (SBIC) program by providing
                up to $4 billion in long-term guaranteed loans to support venture capital investments in small businesses.

          Object Classification (in millions of dollars)

                      Identification code 073–1154–0–1–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      25.2
                      Other services from non-Federal sources
                      153
                      152
                      153

                      41.0
                      Grants, subsidies, and contributions
                      266
                      642
                      3

                      99.9
                      Total new obligations, unexpired accounts
                      419
                      794
                      156

             Business Direct Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0710
                      Direct loan obligations
                      35
                      34
                      36

                      0713
                      Payment of interest to Treasury
                      5
                      5
                      5

                      0742
                      Downward reestimates paid to receipt accounts
                      2
                      2

                      0900
                      Total new obligations, unexpired accounts
                      42
                      41
                      41

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      19
                      3

                      1021
                      Recoveries of prior year unpaid obligations
                      3
                      3
                      3

                      1023
                      Unobligated balances applied to repay debt
                      –11

                      1050
                      Unobligated balance (total)
                      11
                      6
                      3

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      30
                      33
                      33

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      42
                      36
                      37

                      1801
                      Change in uncollected payments, Federal sources
                      –1

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –37
                      –34
                      –32

                      1850
                      Spending auth from offsetting collections, mand (total)
                      4
                      2
                      5

                      1900
                      Budget authority (total)
                      34
                      35
                      38

                      1930
                      Total budgetary resources available
                      45
                      41
                      41

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      3

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      44
                      41
                      45

                      3010
                      New obligations, unexpired accounts
                      42
                      41
                      41

                      3020
                      Outlays (gross)
                      –42
                      –34
                      –36

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –3
                      –3
                      –3

                      3050
                      Unpaid obligations, end of year
                      41
                      45
                      47

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –6
                      –5
                      –5

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      1

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –5
                      –5
                      –5

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      38
                      36
                      40

                      3200
                      Obligated balance, end of year
                      36
                      40
                      42

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      34
                      35
                      38

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      42
                      34
                      36

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

                      4120
                      Federal sources: Subsidy from program account
                      –4
                      –3
                      –3

                      4120
                      Upward reestimate
                      –6
                      –1

                      4120
                      Interest on reestimate
                      –2
                      –1

                      4122
                      Interest on uninvested funds
                      –2
                      –2
                      –2

                      4123
                      Repayments of principal, net
                      –28
                      –27
                      –29

                      4123
                      Other income

                      –2
                      –3

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –42
                      –36
                      –37

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      1

                      4160
                      Budget authority, net (mandatory)
                      –7
                      –1
                      1

                      4170
                      Outlays, net (mandatory)

                      –2
                      –1

                      4180
                      Budget authority, net (total)
                      –7
                      –1
                      1

                      4190
                      Outlays, net (total)

                      –2
                      –1

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Position with respect to appropriations act limitation on obligations:

                      1111
                      Direct loan obligations from current-year authority
                      35
                      34
                      36

                      1121
                      Limitation available from carry-forward
                      5

                      1143
                      Unobligated limitation carried forward (P.L. xx) (-)
                      –5

                      1150
                      Total direct loan obligations
                      35
                      34
                      36

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      168
                      174
                      180

                      1231
                      Disbursements: Direct loan disbursements
                      34
                      34
                      36

                      1251
                      Repayments: Repayments and prepayments
                      –27
                      –28
                      –28

                      1263
                      Write-offs for default: Write-offs for default
                      –1

                      1290
                      Outstanding, end of year
                      174
                      180
                      188

          Balance Sheet (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2015 actual
                      2016 actual

                      ASSETS:

                      Federal assets:

                      1101
                      Fund balances with Treasury
                      53
                      40

                      Investments in US securities:

                      1106
                      Receivables, net
                      6
                      1

                      Net value of assets related to post-1991 direct loans receivable:

                      1401
                      Direct loans receivable, gross
                      168
                      174

                      1405
                      Allowance for subsidy cost (-)
                      –11
                      –13

                      1499
                      Net present value of assets related to direct loans
                      157
                      161

                      1999
                      Total assets
                      216
                      202

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      213
                      201

                      2104
                      Resources payable to Treasury (Downward Reestimate)
                      3
                      1

                      2201
                      Non-Federal liabilities: Accounts payable

                      2999
                      Total liabilities
                      216
                      202

                      4999
                      Total liabilities and net position
                      216
                      202

             Business Guaranteed Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0005
                      Other Expenses
                      95
                      75
                      75

                      Credit program obligations:

                      0711
                      Default claim payments on principal
                      872
                      1,500
                      1,631

                      0712
                      Default claim payments on interest
                      41
                      100
                      142

                      0713
                      Payment of interest to Treasury
                      61
                      80
                      80

                      0742
                      Downward reestimates paid to receipt accounts
                      1,273
                      846

                      0743
                      Interest on downward reestimates
                      252
                      184

                      0791
                      Direct program activities, subtotal
                      2,499
                      2,710
                      1,853

                      0900
                      Total new obligations, unexpired accounts
                      2,594
                      2,785
                      1,928

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      3,402
                      3,475
                      3,593

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      155

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      2,591
                      2,903
                      1,863

                      1801
                      Change in uncollected payments, Federal sources
                      –38

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –41

                      1850
                      Spending auth from offsetting collections, mand (total)
                      2,512
                      2,903
                      1,863

                      1900
                      Budget authority (total)
                      2,667
                      2,903
                      1,863

                      1930
                      Total budgetary resources available
                      6,069
                      6,378
                      5,456

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      3,475
                      3,593
                      3,528

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      39
                      28
                      30

                      3010
                      New obligations, unexpired accounts
                      2,594
                      2,785
                      1,928

                      3020
                      Outlays (gross)
                      –2,605
                      –2,783
                      –1,853

                      3050
                      Unpaid obligations, end of year
                      28
                      30
                      105

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –75
                      –37
                      –37

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      38

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –37
                      –37
                      –37

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      –36
                      –9
                      –7

                      3200
                      Obligated balance, end of year
                      –9
                      –7
                      68

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      2,667
                      2,903
                      1,863

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      2,605
                      2,783
                      1,853

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

                      4120
                      Subsidy from program account
                      –26
                      –26
                      –26

                      4120
                      Upward reestimate
                      –205
                      –520

                      4120
                      Interest on reestimate
                      –50
                      –117

                      4122
                      Interest on uninvested funds
                      –71
                      –70
                      –70

                      4123
                      Fees
                      –1,282
                      –1,300
                      –1,418

                      4123
                      Principal
                      –867
                      –800
                      –349

                      4123
                      Interest
                      –79
                      –70

                      4123
                      Sale of Foreclosed Property
                      –11

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –2,591
                      –2,903
                      –1,863

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      38

                      4160
                      Budget authority, net (mandatory)
                      114

                      4170
                      Outlays, net (mandatory)
                      14
                      –120
                      –10

                      4180
                      Budget authority, net (total)
                      114

                      4190
                      Outlays, net (total)
                      14
                      –120
                      –10

          Status of Guaranteed Loans (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Position with respect to appropriations act limitation on commitments:

                      2111
                      Guaranteed loan commitments from current-year authority
                      57,500
                      57,500
                      60,000

                      2121
                      Limitation available from carry-forward

                      2142
                      Uncommitted loan guarantee limitation
                      –20,128

                      2150
                      Total guaranteed loan commitments
                      37,372
                      57,500
                      60,000

                      2199
                      Guaranteed amount of guaranteed loan commitments
                      31,282
                      50,794
                      50,794

                      Cumulative balance of guaranteed loans outstanding:

                      2210
                      Outstanding, start of year
                      105,658
                      113,113
                      131,544

                      2231
                      Disbursements of new guaranteed loans
                      26,982
                      40,193
                      40,193

                      2251
                      Repayments and prepayments
                      –18,315
                      –19,989
                      –19,989

                      Adjustments:

                      2261
                      Terminations for default that result in loans receivable
                      –1,041
                      –1,593
                      –1,593

                      2263
                      Terminations for default that result in claim payments
                      –175
                      –180
                      –180

                      2264
                      Other adjustments, net
                      4

                      2290
                      Outstanding, end of year
                      113,113
                      131,544
                      149,975

                      Memorandum:

                      2299
                      Guaranteed amount of guaranteed loans outstanding, end of year
                      93,764
                      114,024
                      114,024

                      Addendum:

                      Cumulative balance of defaulted guaranteed loans that result in loans receivable:

                      2310
                      Outstanding, start of year
                      5,793
                      4,201
                      3,685

                      2331
                      Disbursements for guaranteed loan claims
                      850
                      1,482
                      1,482

                      2351
                      Repayments of loans receivable
                      –692
                      –479
                      –479

                      2361
                      Write-offs of loans receivable
                      –1,753
                      –1,519
                      –1,519

                      2364
                      Other adjustments, net
                      3

                      2390
                      Outstanding, end of year
                      4,201
                      3,685
                      3,169

          Balance Sheet (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2015 actual
                      2016 actual

                      ASSETS:

                      Federal assets:

                      1101
                      Fund balances with Treasury
                      3,254
                      3,465

                      Investments in US securities:

                      1106
                      Receivables, net
                      248
                      645

                      1206
                      Non-Federal assets: Receivables, net
                      96
                      158

                      Net value of assets related to post-1991 acquired defaulted guaranteed loans receivable:

                      1501
                      Defaulted guaranteed loans receivable, gross
                      5,793
                      4,201

                      1504
                      Foreclosed property
                      23
                      17

                      1505
                      Allowance for subsidy cost (-)
                      –4,745
                      –3,299

                      1599
                      Net present value of assets related to defaulted guaranteed loans
                      1,071
                      919

                      1999
                      Total assets
                      4,669
                      5,187

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      1,501
                      1,727

                      2105
                      Other
                      1,475
                      1,071

                      Non-Federal liabilities:

                      2201
                      Accounts payable
                      32
                      18

                      2204
                      Liabilities for loan guarantees
                      1,661
                      2,371

                      2999
                      Total liabilities
                      4,669
                      5,187

                      4999
                      Total liabilities and net position
                      4,669
                      5,187

             Business Loan Fund Liquidating Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0005
                      Guaranteed loan default claims
                      1
                      1

                      0006
                      Interest to UST

                      1

                      0007
                      Other Expenses

                      1
                      1

                      0600
                      Direct program activities, subtotal
                      1
                      2
                      2

                      0900
                      Total new obligations, unexpired accounts
                      1
                      2
                      2

                      Budgetary resources:

                      Budget authority:

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      1
                      2
                      2

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      3
                      3
                      3

                      1820
                      Capital transfer of spending authority from offsetting collections to general fund
                      –3
                      –3
                      –3

                      1900
                      Budget authority (total)
                      1
                      2
                      2

                      1930
                      Total budgetary resources available
                      1
                      2
                      2

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      1
                      1
                      1

                      3010
                      New obligations, unexpired accounts
                      1
                      2
                      2

                      3020
                      Outlays (gross)
                      –1
                      –2
                      –2

                      3050
                      Unpaid obligations, end of year
                      1
                      1
                      1

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      1
                      1
                      1

                      3200
                      Obligated balance, end of year
                      1
                      1
                      1

                      Budget authority and outlays, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      1
                      2
                      2

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority

                      2
                      2

                      4101
                      Outlays from mandatory balances
                      1

                      4110
                      Outlays, gross (total)
                      1
                      2
                      2

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4123
                      Non-Federal sources
                      –3
                      –3
                      –3

                      4180
                      Budget authority, net (total)
                      –2
                      –1
                      –1

                      4190
                      Outlays, net (total)
                      –2
                      –1
                      –1

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      8
                      5
                      3

                      1251
                      Repayments: Repayments and prepayments

                      –1
                      –1

                      Write-offs for default:

                      1263
                      Write-offs for default

                      –1
                      –1

                      1264
                      Other adjustments, net (+ or -)
                      –3

                      1290
                      Outstanding, end of year
                      5
                      3
                      1

          Status of Guaranteed Loans (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Cumulative balance of guaranteed loans outstanding:

                      2210
                      Outstanding, start of year
                      4
                      1
                      1

                      2251
                      Repayments and prepayments
                      –3

                      2290
                      Outstanding, end of year
                      1
                      1
                      1

                      Memorandum:

                      2299
                      Guaranteed amount of guaranteed loans outstanding, end of year
                      1
                      1
                      1

                      Addendum:

                      Cumulative balance of defaulted guaranteed loans that result in loans receivable:

                      2310
                      Outstanding, start of year
                      12
                      11
                      9

                      2331
                      Disbursements for guaranteed loan claims
                      1

                      2351
                      Repayments of loans receivable
                      –1
                      –1
                      –1

                      2361
                      Write-offs of loans receivable
                      –12
                      –1
                      –1

                      2364
                      Other adjustments, net
                      11

                      2390
                      Outstanding, end of year
                      11
                      9
                      7

          Balance Sheet (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2015 actual
                      2016 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury
                      1
                      1

                      1206
                      Non-Federal assets: Receivables, net

                      1601
                      Direct loans, gross
                      8
                      5

                      1603
                      Allowance for estimated uncollectible loans and interest (-)
                      –4
                      –2

                      1699
                      Value of assets related to direct loans
                      4
                      3

                      1701
                      Defaulted guaranteed loans, gross
                      12
                      11

                      1703
                      Allowance for estimated uncollectible loans and interest (-)
                      –6
                      –3

                      1799
                      Value of assets related to loan guarantees
                      6
                      8

                      1801
                      Other Federal assets: Cash and other monetary assets
                      1
                      2

                      1999
                      Total assets
                      12
                      14

                      LIABILITIES:

                      Federal liabilities:

                      2102
                      Interest payable
                      1

                      2104
                      Resources payable to Treasury
                      11
                      13

                      2201
                      Non-Federal liabilities: Accounts payable

                      1

                      2999
                      Total liabilities
                      12
                      14

                      4999
                      Total liabilities and net position
                      12
                      14

          Object Classification (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      33.0
                      Investments and loans
                      1
                      1

                      43.0
                      Interest and dividends

                      1
                      2

                      99.9
                      Total new obligations, unexpired accounts
                      1
                      2
                      2

             Disaster loans program account
             (including transfers of funds)For administrative expenses to carry out the direct loan program authorized by section 7(b) of the Small Business Act, $186,458,000, to be available until expended, of which $1,000,000 is for the Office of Inspector General of the Small Business Administration
                for audits and reviews of disaster loans and the disaster loan programs and shall be transferred to and merged with the appropriations
                for the Office of Inspector General; of which $176,458,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, which may be transferred
                to and merged with the appropriations for Salaries and Expenses; and of which $9,000,000 is for indirect administrative expenses
                for the direct loan program, which may be transferred to and merged with the appropriations for Salaries and Expenses.
          Note.—A full-year 2017 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Further Continuing Appropriations Act, 2017 (P.L. 114–254). The amounts
             included for 2017 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–1152–0–1–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0701
                      Direct loan subsidy
                      143
                      231
                      138

                      0705
                      Reestimates of direct loan subsidy
                      9
                      8

                      0706
                      Interest on reestimates of direct loan subsidy

                      2

                      0709
                      Administrative expenses
                      187
                      186
                      184

                      0900
                      Total new obligations, unexpired accounts
                      339
                      427
                      322

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      706
                      568
                      352

                      1001
                      Discretionary unobligated balance brought fwd, Oct 1
                      706
                      568

                      1021
                      Recoveries of prior year unpaid obligations
                      5
                      15
                      15

                      1050
                      Unobligated balance (total)
                      711
                      583
                      367

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      187
                      27
                      28

                      1100
                      Appropriation-Discretionary, Disaster Relief pursuant to 2011 Budget Control Act, Appropriations Committee

                      159
                      159

                      1131
                      Unobligated balance of appropriations permanently reduced

                      –3

                      1160
                      Appropriation, discretionary (total)
                      187
                      186
                      184

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      9
                      10

                      1900
                      Budget authority (total)
                      196
                      196
                      184

                      1930
                      Total budgetary resources available
                      907
                      779
                      551

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      568
                      352
                      229

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      14
                      104
                      191

                      3010
                      New obligations, unexpired accounts
                      339
                      427
                      322

                      3020
                      Outlays (gross)
                      –244
                      –325
                      –356

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –5
                      –15
                      –15

                      3050
                      Unpaid obligations, end of year
                      104
                      191
                      142

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      14
                      104
                      191

                      3200
                      Obligated balance, end of year
                      104
                      191
                      142

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      187
                      186
                      184

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      187
                      186
                      184

                      4011
                      Outlays from discretionary balances
                      48
                      129
                      172

                      4020
                      Outlays, gross (total)
                      235
                      315
                      356

                      Mandatory:

                      4090
                      Budget authority, gross
                      9
                      10

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority
                      9
                      10

                      4180
                      Budget authority, net (total)
                      196
                      196
                      184

                      4190
                      Outlays, net (total)
                      244
                      325
                      356

          Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)

                      Identification code 073–1152–0–1–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct loan levels supportable by subsidy budget authority:

                      115001
                      Disaster Assistance Loans
                      1,181
                      1,600
                      1,100

                      115999
                      Total direct loan levels
                      1,181
                      1,600
                      1,100

                      Direct loan subsidy (in percent):

                      132001
                      Disaster Assistance Loans
                      12.10
                      14.42
                      12.54

                      132999
                      Weighted average subsidy rate
                      12.10
                      14.42
                      12.54

                      Direct loan subsidy budget authority:

                      133001
                      Disaster Assistance Loans
                      143
                      231
                      138

                      133999
                      Total subsidy budget authority
                      143
                      231
                      138

                      Direct loan subsidy outlays:

                      134001
                      Disaster Assistance Loans
                      48
                      88
                      88

                      134999
                      Total subsidy outlays
                      48
                      88
                      88

                      Direct loan reestimates:

                      135001
                      Disaster Assistance Loans
                      –112
                      –155

                      135002
                      Economic Injury Disaster Loans—Terrorist Attack
                      –2
                      –3

                      135999
                      Total direct loan reestimates
                      –114
                      –158

                      Administrative expense data:

                      3510
                      Budget authority
                      187
                      186
                      184

                      3590
                      Outlays from new authority
                      187
                      186
                      184

             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 the disaster assistance program, SBA helps homeowners, renters, businesses of all sizes, and non-profit
                organizations pay for the cost of replacing, rebuilding or repairing property damaged by disasters. The program is the only
                form of SBA financial 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 disaster.

             In 2018, the Budget supports $1.1 billion in loans, the ten-year normalized average for such loans. The Budget does not request
                new credit subsidy budget authority, as SBA has sufficient unobligated balances to support estimated 2018 loan approvals.
                However, the Budget does request $158.8 million in new budget authority for administrative expenses related to major disasters
                (pursuant to a determination under section 102(2) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act)
                and $27.6 million for administrative expenses related to non-major disasters. Section 522 of the SBA general provisions proposes
                a $2.6 million cancellation of prior no-year unobligated balances related to the Immediate Disaster Assistance Program and
                the Expedited Disaster Assistance Loan Program.

          Object Classification (in millions of dollars)

                      Identification code 073–1152–0–1–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Direct obligations:

                      25.2
                      Other services from non-Federal sources
                      187
                      186
                      184

                      41.0
                      Grants, subsidies, and contributions
                      152
                      241
                      138

                      99.9
                      Total new obligations, unexpired accounts
                      339
                      427
                      322

             Disaster Direct Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0003
                      Other
                      15
                      12
                      12

                      Credit program obligations:

                      0710
                      Direct loan obligations
                      1,181
                      1,600
                      1,100

                      0713
                      Payment of interest to Treasury
                      254
                      500
                      500

                      0742
                      Downward reestimates paid to receipt accounts
                      84
                      116

                      0743
                      Interest on downward reestimates
                      40
                      51

                      0791
                      Direct program activities, subtotal
                      1,559
                      2,267
                      1,600

                      0900
                      Total new obligations, unexpired accounts
                      1,574
                      2,279
                      1,612

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      271
                      410
                      155

                      1021
                      Recoveries of prior year unpaid obligations
                      45
                      99
                      99

                      1050
                      Unobligated balance (total)
                      316
                      509
                      254

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      1,425
                      1,369
                      1,007

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      1,009
                      1,056
                      1,046

                      1801
                      Change in uncollected payments, Federal sources
                      89

                      1820
                      Capital transfer of spending authority from offsetting collections to general fund

                      –500
                      –500

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –855

                      1850
                      Spending auth from offsetting collections, mand (total)
                      243
                      556
                      546

                      1900
                      Budget authority (total)
                      1,668
                      1,925
                      1,553

                      1930
                      Total budgetary resources available
                      1,984
                      2,434
                      1,807

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      410
                      155
                      195

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      118
                      856
                      1,523

                      3010
                      New obligations, unexpired accounts
                      1,574
                      2,279
                      1,612

                      3020
                      Outlays (gross)
                      –791
                      –1,513
                      –1,513

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –45
                      –99
                      –99

                      3050
                      Unpaid obligations, end of year
                      856
                      1,523
                      1,523

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –14
                      –103
                      –103

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      –89

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –103
                      –103
                      –103

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      104
                      753
                      1,420

                      3200
                      Obligated balance, end of year
                      753
                      1,420
                      1,420

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      1,668
                      1,925
                      1,553

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      791
                      1,513
                      1,513

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

                      4120
                      Payments from program account
                      –48
                      –88
                      –88

                      4120
                      Upward reestimate
                      –9
                      –8

                      4120
                      Interest on upward reestimate

                      –2

                      4122
                      Interest income from Treasury
                      –62
                      –230
                      –230

                      4123
                      Repayments of principal, net
                      –890
                      –728
                      –728

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –1,009
                      –1,056
                      –1,046

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      –89

                      4160
                      Budget authority, net (mandatory)
                      570
                      869
                      507

                      4170
                      Outlays, net (mandatory)
                      –218
                      457
                      467

                      4180
                      Budget authority, net (total)
                      570
                      869
                      507

                      4190
                      Outlays, net (total)
                      –218
                      457
                      467

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Position with respect to appropriations act limitation on obligations:

                      1121
                      Limitation available from carry-forward
                      5,817
                      4,188
                      4,188

                      1143
                      Unobligated limitation carried forward (P.L. xx) (-)
                      –4,636
                      –2,588
                      –3,088

                      1150
                      Total direct loan obligations
                      1,181
                      1,600
                      1,100

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      6,347
                      6,027
                      6,453

                      1231
                      Disbursements: Direct loan disbursements
                      402
                      1,043
                      1,043

                      1251
                      Repayments: Repayments and prepayments
                      –642
                      –522
                      –522

                      Write-offs for default:

                      1263
                      Direct loans
                      –86
                      –95
                      –95

                      1264
                      Other adjustments, net (+ or -)
                      6

                      1290
                      Outstanding, end of year
                      6,027
                      6,453
                      6,879

          Balance Sheet (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2015 actual
                      2016 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury
                      324
                      1,174

                      Net value of assets related to post-1991 direct loans receivable:

                      1401
                      Direct loans receivable, gross
                      6,347
                      6,027

                      1405
                      Allowance for subsidy cost (-)
                      –1,085
                      –937

                      1499
                      Net present value of assets related to direct loans
                      5,262
                      5,090

                      1999
                      Total assets
                      5,586
                      6,264

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      5,584
                      6,260

                      2105
                      Other
                      2
                      4

                      2999
                      Total liabilities
                      5,586
                      6,264

                      4999
                      Total liabilities and net position
                      5,586
                      6,264

             Disaster Loans Guaranteed Loan Financing Account

             Status of Guaranteed Loans (in millions of dollars)

                      Identification code 073–4293–0–3–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Position with respect to appropriations act limitation on commitments:

                      2121
                      Limitation available from carry-forward
                      77
                      77

                      2143
                      Uncommitted limitation carried forward
                      –77
                      –77

                      2150
                      Total guaranteed loan commitments

                      2199
                      Guaranteed amount of guaranteed loan commitments

                      Cumulative balance of guaranteed loans outstanding:

                      2210
                      Outstanding, start of year

                      2231
                      Disbursements of new guaranteed loans

                      2251
                      Repayments and prepayments

                      2290
                      Outstanding, end of year

                      Memorandum:

                      2299
                      Guaranteed amount of guaranteed loans outstanding, end of year

             Disaster Loan Fund Liquidating Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Obligations by program activity:

                      0101
                      Interest expense to Treasury

                      2
                      1

                      0103
                      Other Expenses

                      1
                      1

                      0900
                      Total new obligations (object class 25.2)

                      3
                      2

                      Budgetary resources:

                      Budget authority:

                      Appropriations, mandatory:

                      1200
                      Appropriation

                      2
                      1

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      1
                      1
                      1

                      1820
                      Capital transfer of spending authority from offsetting collections to general fund
                      –1

                      1850
                      Spending auth from offsetting collections, mand (total)

                      1
                      1

                      1900
                      Budget authority (total)

                      3
                      2

                      1930
                      Total budgetary resources available

                      3
                      2

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1

                      3

                      3010
                      New obligations, unexpired accounts

                      3
                      2

                      3020
                      Outlays (gross)

                      –1

                      3050
                      Unpaid obligations, end of year

                      3
                      4

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year

                      3

                      3200
                      Obligated balance, end of year

                      3
                      4

                      Budget authority and outlays, net:

                      Mandatory:

                      4090
                      Budget authority, gross

                      3
                      2

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority

                      1

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4123
                      Non-Federal sources
                      –1
                      –1
                      –1

                      4180
                      Budget authority, net (total)
                      –1
                      2
                      1

                      4190
                      Outlays, net (total)
                      –1
                      –1

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2016 actual
                      2017 est.
                      2018 est.

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      3
                      2
                      1

                      1251
                      Repayments: Repayments and prepayments
                      –1
                      –1
                      –1

                      Write-offs for default:

                      1263
                      Direct loans
                      –1

                      1264
                      Other adjustments, net (+ or -)
                      1

                      1290
                      Outstanding, end of year
                      2
                      1

          Balance Sheet (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2015 actual
                      2016 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury

                      1601
                      Direct loans, net
                      3
                      2

                      1603
                      Allowance for estimated uncollectible loans and interest (-)

                      1699
                      Value of assets related to direct loans
                      3
                      2

                      1999
                      Total assets
                      3
                      2

                      LIABILITIES:

                      2104
                      Federal liabilities: Resources payable to Treasury
                      3
                      2

                      4999
                      Total liabilities and net position
                      3
                      2

             GENERAL FUND RECEIPT ACCOUNTS

             (in millions of dollars)

                      2016 actual
                      2017 est.
                      2018 est.

                      Offsetting receipts from the public:

                      073–272130
                      Disaster Loan Program, Downward Reestimates of Subsidies
                      123
                      168

                      073–272230
                      Business Loan Program, Downward Reestimates of Subsidies
                      1,528
                      1,033

                      073–322000
                      All Other General Fund Proprietary Receipts Including Budget Clearing Accounts
                      1

                      General Fund Offsetting receipts from the public
                      1,652
                      1,201

             ADMINISTRATIVE PROVISIONS

             Administrative Provisions—Small Business Administration'

          (including cancellation and transfer of funds)
          SEC. 520. Not to exceed 5 percent of any appropriation made available in this title for the Small Business Administration may be transferred between such appropriations upon the advance notification to the Committees on Appropriations of the House of Representatives and the Senate: Provided, That no transfer under this section may increase any such appropriation by more than 10 percent. SEC. 521.  For loans and loan guarantees that do not require budget authority and the program level has been established in this Act,
                the Administrator of the Small Business Administration may increase the program level for such loans and loan guarantees by
                not more than 15 percent: Provided, That prior to the Administrator implementing such an increase, the Administrator notifies,
                in writing, the Committees on Appropriations and Small Business of both Houses of Congress at least 15 days in advance. '

          (Cancellation)SEC. 522.  Of the unobligated balances available for the Immediate Disaster Assistance Program authorized by section 42 of the Small
                Business Act (15 U.S.C. 657n) and the Expedited Disaster Assistance Loan Program authorized by section 12085 of Public Law
                110–246, $2,600,000 are hereby permanently cancelled: Provided, That no amounts may be cancelled from amounts that were designated
                by the Congress as emergency requirements pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency
                Deficit Control Act of 1985, as amended: Provided further, That no amounts may be cancelled from amounts that were designated
                by the Congress as being for disaster relief pursuant to section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit
                Control Act of 1985. SEC. 523.  Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—  (a)  in paragraph (4)—  (1)  by striking subparagraph (E); and
             (2)  by redesignating subparagraph (F) as subparagraph (E); and

          (b)  in paragraph (7), by striking subparagraph (B). SEC. 524.  SMALL BUSINESS DEVELOPMENT CENTER AND WOMEN'S BUSINESS CENTER PROGRAM EVALUATIONS.  (a)   Section 21(a)(7)(A) of the Small Business Act (15 U.S.C. 648(a)(7)(A)) is amended by—  (1)  striking the word "or" at the end of clause (i);
             (2)  striking the period at the end of clause (ii) and insert "; or"; and
             (3)  adding the following new clause: "(iii) the Administrator considers such a disclosure to be necessary for the purpose of conducting
                      a program evaluation.".

          (b)  Section 29(n)(1) of the Small Business Act (15 U.S.C. 656(n)(1)) is amended by—  (1)  striking the word "or" at the end of subparagraph (A);
             (2)  striking the period at the end of subparagraph (B) and inserting "; or"; and
             (3)  adding the following new subparagraph: "(C) the Administrator considers such a disclosure to be necessary for the purpose
                      of conducting a program evaluation.".