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    [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 2019: Provided further, That $6,100,000 shall be available for the Loan Modernization and Accounting System, to be available until September 30,
                2020.
          Note.—A full-year 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0100–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0001
                      Executive direction
                      70
                      76
                      76

                      0002
                      Capital Access
                      81
                      81
                      81

                      0003
                      Gov. Contracting/ Bus. Development
                      30
                      28
                      28

                      0004
                      Entrepreneurial Development
                      9
                      12
                      12

                      0005
                      Chief Operating Office
                      29
                      26
                      26

                      0006
                      Office of Chief Information Officer
                      41
                      37
                      37

                      0007
                      Regional & district offices
                      98
                      98
                      99

                      0008
                      Agency wide costs
                      52
                      65
                      65

                      0009
                      Non credit programs
                      3
                      3
                      3

                      0012
                      Disaster
                      237
                      175
                      177

                      0013
                      Investment & Innovation
                      20
                      16
                      16

                      0014
                      International Trade
                      7
                      6
                      6

                      0900
                      Total new obligations, unexpired accounts
                      677
                      623
                      626

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      229
                      389
                      391

                      1021
                      Recoveries of prior year unpaid obligations
                      11

                      1050
                      Unobligated balance (total)
                      240
                      389
                      391

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      270
                      268
                      265

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      385
                      185
                      186

                      1700
                      Collected
                      175
                      172
                      175

                      1750
                      Spending auth from offsetting collections, disc (total)
                      560
                      357
                      361

                      1900
                      Budget authority (total)
                      830
                      625
                      626

                      1930
                      Total budgetary resources available
                      1,070
                      1,014
                      1,017

                      Memorandum (non-add) entries:

                      1940
                      Unobligated balance expiring
                      –4

                      1941
                      Unexpired unobligated balance, end of year
                      389
                      391
                      391

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      153
                      167
                      140

                      3010
                      New obligations, unexpired accounts
                      677
                      623
                      626

                      3011
                      Obligations ("upward adjustments"), expired accounts
                      4

                      3020
                      Outlays (gross)
                      –644
                      –650
                      –631

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –11

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –12

                      3050
                      Unpaid obligations, end of year
                      167
                      140
                      135

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      153
                      167
                      140

                      3200
                      Obligated balance, end of year
                      167
                      140
                      135

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      830
                      625
                      626

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      546
                      429
                      430

                      4011
                      Outlays from discretionary balances
                      98
                      221
                      201

                      4020
                      Outlays, gross (total)
                      644
                      650
                      631

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4030
                      Federal sources
                      –541
                      –338
                      –342

                      4033
                      Non-Federal sources
                      –19
                      –19
                      –19

                      4040
                      Offsets against gross budget authority  and outlays (total)
                      –560
                      –357
                      –361

                      4070
                      Budget authority, net (discretionary)
                      270
                      268
                      265

                      4080
                      Outlays, net (discretionary)
                      84
                      293
                      270

                      4180
                      Budget authority, net (total)
                      270
                      268
                      265

                      4190
                      Outlays, net (total)
                      84
                      293
                      270

             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 2019 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 $131 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
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      Personnel compensation:

                      11.1
                      Full-time permanent
                      196
                      203
                      207

                      11.3
                      Other than full-time permanent
                      5
                      5
                      5

                      11.5
                      Other personnel compensation
                      5
                      5
                      5

                      11.9
                      Total personnel compensation
                      206
                      213
                      217

                      12.1
                      Civilian personnel benefits
                      66
                      71
                      75

                      21.0
                      Travel and transportation of persons
                      5
                      5
                      5

                      23.1
                      Rental payments to GSA
                      36
                      42
                      42

                      23.3
                      Communications, utilities, and miscellaneous charges
                      6
                      6
                      6

                      24.0
                      Printing and reproduction
                      1
                      1
                      1

                      25.2
                      Other services from non-Federal sources
                      112
                      104
                      97

                      25.3
                      Other purchases of goods and services from Government accounts (Disaster Administrative Expenses)
                      237
                      175
                      177

                      26.0
                      Supplies and materials
                      3
                      2
                      2

                      31.0
                      Equipment
                      2
                      2
                      2

                      41.0
                      Grants, subsidies, and contributions
                      3
                      2
                      2

                      99.9
                      Total new obligations, unexpired accounts
                      677
                      623
                      626

          Employment Summary

                      Identification code 073–0100–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      1001
                      Direct civilian full-time equivalent employment
                      3,246
                      3,060
                      3,069

             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,
                $21,900,000.
          Note.—A full-year 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0200–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0001
                      Audit
                      8
                      8
                      10

                      0002
                      Investigations
                      11
                      11
                      11

                      0003
                      Management and Administration
                      1
                      2
                      2

                      0004
                      Immediate office, Chief of staff, and Counsel
                      1
                      1
                      1

                      0900
                      Total new obligations, unexpired accounts
                      21
                      22
                      24

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      5
                      5
                      4

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      20
                      20
                      22

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      1
                      1
                      1

                      1900
                      Budget authority (total)
                      21
                      21
                      23

                      1930
                      Total budgetary resources available
                      26
                      26
                      27

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      5
                      4
                      3

                      Change in obligated balance:

                      Unpaid obligations:

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

                      3010
                      New obligations, unexpired accounts
                      21
                      22
                      24

                      3020
                      Outlays (gross)
                      –20
                      –22
                      –24

                      3050
                      Unpaid obligations, end of year
                      4
                      4
                      4

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      3
                      4
                      4

                      3200
                      Obligated balance, end of year
                      4
                      4
                      4

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      21
                      21
                      23

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      18
                      19
                      21

                      4011
                      Outlays from discretionary balances
                      2
                      3
                      3

                      4020
                      Outlays, gross (total)
                      20
                      22
                      24

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4030
                      Federal sources
                      –1
                      –1
                      –1

                      4180
                      Budget authority, net (total)
                      20
                      20
                      22

                      4190
                      Outlays, net (total)
                      19
                      21
                      23

             The 2019 Budget proposes $21.9 million in new budget authority and $1 million transferred from the Disaster Loans Program
                account for a total of $22.9 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
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      11
                      12
                      13

                      12.1
                      Civilian personnel benefits
                      5
                      5
                      6

                      25.2
                      Other services
                      4
                      4
                      4

                      99.0
                      Direct obligations
                      20
                      21
                      23

                      99.0
                      Reimbursable obligations
                      1
                      1
                      1

                      99.9
                      Total new obligations, unexpired accounts
                      21
                      22
                      24

          Employment Summary

                      Identification code 073–0200–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      1001
                      Direct civilian full-time equivalent employment
                      101
                      107
                      114

             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 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0300–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0001
                      Office of Advocacy (Direct)
                      8
                      9
                      9

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      1
                      2
                      2

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      9
                      9
                      9

                      1930
                      Total budgetary resources available
                      10
                      11
                      11

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      2
                      2
                      2

                      Change in obligated balance:

                      Unpaid obligations:

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

                      3010
                      New obligations, unexpired accounts
                      8
                      9
                      9

                      3020
                      Outlays (gross)
                      –8
                      –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
                      7
                      8
                      8

                      4011
                      Outlays from discretionary balances
                      1

                      4020
                      Outlays, gross (total)
                      8
                      8
                      8

                      4180
                      Budget authority, net (total)
                      9
                      9
                      9

                      4190
                      Outlays, net (total)
                      8
                      8
                      8

             The 2019 Budget proposes $9.1 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
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      6
                      6
                      6

                      12.1
                      Civilian personnel benefits
                      1
                      2
                      2

                      25.2
                      Other services from non-Federal sources
                      1
                      1
                      1

                      99.9
                      Total new obligations, unexpired accounts
                      8
                      9
                      9

          Employment Summary

                      Identification code 073–0300–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      1001
                      Direct civilian full-time equivalent employment
                      44
                      52
                      52

             Entrepreneurial Development Program

             For necessary expenses of programs supporting entrepreneurial and small business development, $192,450,000, to remain available
                until September 30, 2020: Provided, That $110,000,000 shall be available to fund grants for performance in fiscal year 2019 or fiscal year 2020 as authorized by section 21 of the Small Business Act: Provided further, That not more than 10 percent of the amounts made available in the preceding proviso shall be available
                   for the Administration to award grants (including contracts and cooperative agreements) to entities described in 15 U.S.C.
                   648(a)(1) if such entities submit proposals that meet criteria established by the Administration: Provided further, That the
                   grants (including contracts and cooperative agreements) described in the preceding proviso shall be exempt from the requirements
                   of 15 U.S.C. 648(a)(4): 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 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–0400–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0001
                      Non-Credit Programs
                      226
                      243
                      192

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      8
                      29
                      29

                      1021
                      Recoveries of prior year unpaid obligations
                      3

                      1050
                      Unobligated balance (total)
                      11
                      29
                      29

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      245
                      243
                      192

                      1900
                      Budget authority (total)
                      245
                      243
                      192

                      1930
                      Total budgetary resources available
                      256
                      272
                      221

                      Memorandum (non-add) entries:

                      1940
                      Unobligated balance expiring
                      –1

                      1941
                      Unexpired unobligated balance, end of year
                      29
                      29
                      29

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      204
                      208
                      247

                      3010
                      New obligations, unexpired accounts
                      226
                      243
                      192

                      3011
                      Obligations ("upward adjustments"), expired accounts
                      1

                      3020
                      Outlays (gross)
                      –214
                      –204
                      –210

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –3

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –6

                      3050
                      Unpaid obligations, end of year
                      208
                      247
                      229

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      204
                      208
                      247

                      3200
                      Obligated balance, end of year
                      208
                      247
                      229

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      245
                      243
                      192

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      52
                      85
                      67

                      4011
                      Outlays from discretionary balances
                      162
                      119
                      143

                      4020
                      Outlays, gross (total)
                      214
                      204
                      210

                      4180
                      Budget authority, net (total)
                      245
                      243
                      192

                      4190
                      Outlays, net (total)
                      214
                      204
                      210

             For 2019, this account supports SBA's core counseling, training and technical assistance programs, including Small Business
                Development Centers (SBDC), SCORE, Women's Business Centers, Veterans' Business Outreach Centers, and Microloan technical
                assistance, as well as various entrepreneurial development programs and initiatives. These 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. In
                2019, the Budget proposes the creation of a competitive set-aside within the SBDC program that would reward those centers
                that most efficiently utilize their resources and provide innovative methods to help entrepreneurs.

          Object Classification (in millions of dollars)

                      Identification code 073–0400–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      11.1
                      Personnel compensation: Full-time permanent
                      2
                      2
                      2

                      12.1
                      Civilian personnel benefits
                      1
                      1
                      1

                      25.2
                      Other services from non-Federal sources
                      13
                      13
                      13

                      41.0
                      Grants, subsidies, and contributions
                      210
                      227
                      176

                      99.9
                      Total new obligations, unexpired accounts
                      226
                      243
                      192

          Employment Summary

                      Identification code 073–0400–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      1001
                      Direct civilian full-time equivalent employment
                      24
                      25
                      25

             Surety Bond Guarantees Revolving Fund

             Program and Financing (in millions of dollars)

                      Identification code 073–4156–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0801
                      Reimbursable obligations
                      16
                      17
                      17

                      0900
                      Total new obligations (object class 42.0)
                      16
                      17
                      17

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      88
                      91
                      91

                      1033
                      Recoveries of prior year paid obligations
                      2

                      1050
                      Unobligated balance (total)
                      90
                      91
                      91

                      Budget authority:

                      Spending authority from offsetting collections, discretionary:

                      1700
                      Collected
                      17
                      17
                      17

                      1930
                      Total budgetary resources available
                      107
                      108
                      108

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      91
                      91
                      91

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1

                      1
                      1

                      3010
                      New obligations, unexpired accounts
                      16
                      17
                      17

                      3020
                      Outlays (gross)
                      –15
                      –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
                      15
                      17
                      17

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4033
                      Non-Federal sources
                      –19
                      –17
                      –17

                      Additional offsets against gross budget authority only:

                      4053
                      Recoveries of prior year paid obligations, unexpired accounts
                      2

                      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 2019. Therefore,
                no new appropriated funds are requested in the Budget.

             Business loans program account
             (including transfer of funds)For the cost of direct loans, $4,000,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget
                Act of 1974:  Provided further, That subject to section 502 of the Congressional Budget Act of 1974, during fiscal year 2019 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 2019 commitments for general business loans authorized under section 7(a) of the Small Business Act shall not exceed $30,000,000,000 for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans: Provided further, That, notwithstanding section 7(a)(23) of the Small Business Act, the Administration may assess fees pursuant
                   to such section so that the cost of making guarantees under section 7(a) of such Act is less than zero: Provided further, That for fiscal year 2019, section 7(a)(23)(A) of the Small Business Act shall be applied by replacing "0.55
                   percent" with "0.625 percent": Provided further, That for fiscal year 2019, section 7(a)(18)(A)(iii) of the Small Business
                   Act shall be applied by adding "but less than $1,000,000" after "$700,000": Provided further, That for fiscal year 2019, section
                   7(a)(18)(A) of the Small Business Act shall be applied by redesignating clause (iv) of such section as clause (v), and by
                   inserting the following after clause (iv): "A guarantee fee not to exceed 3.75 percent of the deferred participation share
                   of a total loan amount that is more than $1,000,000.": Provided further, That during fiscal year 2019 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 $1,000,000,000: Provided further, That during fiscal year 2019 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 2019, 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, $155,150,000 which may be transferred to and merged with the appropriations for Salaries and Expenses.
          Note.—A full-year 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–1154–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0701
                      Direct loan subsidy
                      4
                      4
                      4

                      0705
                      Reestimates of direct loan subsidy
                      1
                      2

                      0706
                      Interest on reestimates of direct loan subsidy
                      1

                      0707
                      Reestimates of loan guarantee subsidy
                      520
                      112

                      0708
                      Interest on reestimates of loan guarantee subsidy
                      117
                      14

                      0709
                      Administrative expenses
                      153
                      152
                      155

                      0900
                      Total new obligations, unexpired accounts
                      796
                      284
                      159

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      114
                      67
                      22

                      1001
                      Discretionary unobligated balance brought fwd, Oct 1
                      114
                      67

                      1021
                      Recoveries of prior year unpaid obligations
                      8
                      10
                      28

                      1050
                      Unobligated balance (total)
                      122
                      77
                      50

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      157
                      156
                      159

                      1131
                      Unobligated balance of appropriations permanently reduced
                      –55
                      –55
                      –50

                      1160
                      Appropriation, discretionary (total)
                      102
                      101
                      109

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      639
                      128

                      1900
                      Budget authority (total)
                      741
                      229
                      109

                      1930
                      Total budgetary resources available
                      863
                      306
                      159

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      67
                      22

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      42
                      22
                      60

                      3010
                      New obligations, unexpired accounts
                      796
                      284
                      159

                      3020
                      Outlays (gross)
                      –806
                      –236
                      –157

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –8
                      –10
                      –28

                      3041
                      Recoveries of prior year unpaid obligations, expired
                      –2

                      3050
                      Unpaid obligations, end of year
                      22
                      60
                      34

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      42
                      22
                      60

                      3200
                      Obligated balance, end of year
                      22
                      60
                      34

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      102
                      101
                      109

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      154
                      99
                      156

                      4011
                      Outlays from discretionary balances
                      13
                      9
                      1

                      4020
                      Outlays, gross (total)
                      167
                      108
                      157

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4033
                      Non-Federal sources
                      –2

                      Additional offsets against gross budget authority only:

                      4052
                      Offsetting collections credited to expired accounts
                      2

                      4070
                      Budget authority, net (discretionary)
                      102
                      101
                      109

                      4080
                      Outlays, net (discretionary)
                      165
                      108
                      157

                      Mandatory:

                      4090
                      Budget authority, gross
                      639
                      128

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority
                      639
                      128

                      4180
                      Budget authority, net (total)
                      741
                      229
                      109

                      4190
                      Outlays, net (total)
                      804
                      236
                      157

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

                      Identification code 073–1154–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct loan levels supportable by subsidy budget authority:

                      115001
                      7(m) Direct Microloans
                      44
                      44
                      42

                      115999
                      Total direct loan levels
                      44
                      44
                      42

                      Direct loan subsidy (in percent):

                      132001
                      7(m) Direct Microloans
                      9.08
                      8.91
                      8.77

                      132999
                      Weighted average subsidy rate
                      9.08
                      8.91
                      8.77

                      Direct loan subsidy budget authority:

                      133001
                      7(m) Direct Microloans
                      4
                      4
                      4

                      133999
                      Total subsidy budget authority
                      4
                      4
                      4

                      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

                      1

                      135011
                      Intermediary Lending Program
                      –1

                      135999
                      Total direct loan reestimates
                      –1
                      1

                      Guaranteed loan levels supportable by subsidy budget authority:

                      215002
                      7(a) General Business Loan Guarantees
                      24,012
                      27,313
                      30,000

                      215004
                      Section 504 Certified Development Companies Debentures
                      4,715
                      7,449
                      7,500

                      215006
                      SBIC Debentures
                      1,960
                      3,973
                      4,000

                      215010
                      Secondary Market Guarantee
                      9,301
                      11,919
                      12,000

                      215027
                      504 Commercial Real Estate (CRE) Refinance Program
                      271
                      7,449
                      1,000

                      215999
                      Total loan guarantee levels
                      40,259
                      58,103
                      54,500

                      Guaranteed loan subsidy (in percent):

                      232002
                      7(a) General Business Loan Guarantees
                      0.00
                      0.00
                      -.31

                      232004
                      Section 504 Certified Development Companies Debentures
                      0.00
                      0.00
                      -.43

                      232006
                      SBIC Debentures
                      0.00
                      0.00
                      -.52

                      232010
                      Secondary Market Guarantee
                      0.00
                      0.00
                      -.04

                      232027
                      504 Commercial Real Estate (CRE) Refinance Program
                      0.00
                      0.00
                      -.43

                      232999
                      Weighted average subsidy rate
                      0.00
                      0.00
                      -.28

                      Guaranteed loan subsidy budget authority:

                      233002
                      7(a) General Business Loan Guarantees

                      –93

                      233004
                      Section 504 Certified Development Companies Debentures

                      –32

                      233006
                      SBIC Debentures

                      –21

                      233010
                      Secondary Market Guarantee

                      –5

                      233027
                      504 Commercial Real Estate (CRE) Refinance Program

                      –4

                      233999
                      Total subsidy budget authority

                      –155

                      Guaranteed loan subsidy outlays:

                      234002
                      7(a) General Business Loan Guarantees
                      1

                      –93

                      234004
                      Section 504 Certified Development Companies Debentures
                      10
                      7
                      –26

                      234006
                      SBIC Debentures

                      –21

                      234010
                      Secondary Market Guarantee

                      –5

                      234027
                      504 Commercial Real Estate (CRE) Refinance Program

                      –4

                      234999
                      Total subsidy outlays
                      11
                      7
                      –149

                      Guaranteed loan reestimates:

                      235002
                      7(a) General Business Loan Guarantees
                      –94
                      –757

                      235003
                      7(a) General Business Loan Guarantees—STAR
                      –1
                      –3

                      235004
                      Section 504 Certified Development Companies Debentures
                      –585
                      –484

                      235006
                      SBIC Debentures
                      –157
                      –134

                      235007
                      SBIC Participating Securities
                      –40
                      –90

                      235008
                      SBIC New Market Venture Capital
                      12
                      7

                      235010
                      Secondary Market Guarantee
                      511
                      20

                      235015
                      Secondary Market 504 First Mortgage Guarantees-ARRA
                      4
                      3

                      235016
                      ARC Loan Guarantees—ARRA
                      –1
                      –1

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

                      235018
                      Section 504 Certified Development Companies—ARRA
                      –30
                      –12

                      235026
                      Section 504 Certified Development Companies Debentures—ARRA Ext
                      –22
                      –15

                      235027
                      504 Commercial Real Estate (CRE) Refinance Program
                      –22
                      –27

                      235028
                      7(a) Business Loan Guarantees—ARRA Extension
                      17
                      1

                      235999
                      Total guaranteed loan reestimates
                      –392
                      –1,492

             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 2019, the Budget proposes $159.2 million in new budget authority for the Business Loans Program account. This includes
                $155.2 million in administrative expenses funding and $4.0 million in credit subsidy for the direct Microloan Program to support
                a program level of $42.4 million. The SBA's business loan guarantee programs, the 7(a), 504 Certified Development Company
                (CDC), 504 Debt Refinancing, and Small Business Investment Company (SBIC) programs, will operate with no subsidy appropriations
                in 2019. The Budget supports a program level of $30.0 billion in Section 7(a) loan guarantees that provide general business
                credit assistance, while waiving upfront fees on SBA Express loans to Veterans. The Budget also proposes a program level of
                $7.5 billion for the guaranteed loan program authorized by Section 503 of the Small Business Investment Act of 1958 for long-term,
                fixed-rate financing and a program level of $1.0 billion for purposes of refinancing existing commercial mortgage and equipment
                debt authorized by Section 502 (7)(C) of the Small Business Investment Act of 1958. The 2019 Budget continues to support innovative
                financial instruments through the SBA's SBIC program by providing up to $4 billion in long-term guaranteed loans to support
                venture capital investments in small businesses. In addition, the Budget proposes a $12 billion program level for the Secondary
                Market Guarantee (SMG) program, which allows SBA's fiscal agent to pool the guaranteed portion of 7(a) loans and sell the
                securities to investors, in turn providing liquidity to participating 7(a) program lenders.

             The Budget proposes that SBA introduce counter-cyclical policies to its business loan guarantee programs in 2019 that enable
                it to maintain its operations while ensuring that it is not displacing direct private lending. Through an adjustment of fees
                across its business loan guarantee programs, the SBA would cover its anticipated lending and offset administrative costs in
                2019. To better address unanticipated spikes in lending, Section 521 of the SBA administrative 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. Section 522 of the SBA administrative provisions proposes
                a $50 million cancellation of prior year unobligated balances appropriated for business loan subsidy for the 504 CDC program
                that are no longer necessary. Additionally, Section 526 of the SBA administrative provisions proposes an increase to the SBA
                Express program's loan limit from $350,000 to $1 million, and Section 527 proposes the introduction of an annual fee on SMG
                program certificate balances to improve and more efficiently sustain its operations.

          Object Classification (in millions of dollars)

                      Identification code 073–1154–0–1–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      25.2
                      Other services from non-Federal sources
                      153
                      152
                      155

                      41.0
                      Grants, subsidies, and contributions
                      643
                      132
                      4

                      99.9
                      Total new obligations, unexpired accounts
                      796
                      284
                      159

             Business Direct Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0710
                      Direct loan obligations
                      44
                      44
                      42

                      0713
                      Payment of interest to Treasury
                      5
                      5
                      5

                      0742
                      Downward reestimates paid to receipt accounts
                      2
                      1

                      0900
                      Total new obligations, unexpired accounts
                      51
                      50
                      47

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      2
                      6
                      7

                      1021
                      Recoveries of prior year unpaid obligations
                      4
                      3
                      3

                      1023
                      Unobligated balances applied to repay debt
                      –5

                      1050
                      Unobligated balance (total)
                      1
                      9
                      10

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      43
                      40
                      38

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      39
                      40
                      38

                      1801
                      Change in uncollected payments, Federal sources
                      –1

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –25
                      –32
                      –32

                      1850
                      Spending auth from offsetting collections, mand (total)
                      13
                      8
                      6

                      1900
                      Budget authority (total)
                      56
                      48
                      44

                      1930
                      Total budgetary resources available
                      57
                      57
                      54

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      6
                      7
                      7

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      43
                      41
                      53

                      3010
                      New obligations, unexpired accounts
                      51
                      50
                      47

                      3020
                      Outlays (gross)
                      –49
                      –35
                      –34

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –4
                      –3
                      –3

                      3050
                      Unpaid obligations, end of year
                      41
                      53
                      63

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –4
                      –3
                      –3

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      1

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –3
                      –3
                      –3

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      39
                      38
                      50

                      3200
                      Obligated balance, end of year
                      38
                      50
                      60

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      56
                      48
                      44

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      49
                      35
                      34

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

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

                      4120
                      Upward reestimate
                      –1
                      –2

                      4120
                      Interest on reestimate
                      –1

                      4122
                      Interest on uninvested funds
                      –2
                      –2
                      –2

                      4123
                      Repayments of principal, net
                      –31
                      –29
                      –29

                      4123
                      Other income

                      –3
                      –3

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –39
                      –40
                      –38

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      1

                      4160
                      Budget authority, net (mandatory)
                      18
                      8
                      6

                      4170
                      Outlays, net (mandatory)
                      10
                      –5
                      –4

                      4180
                      Budget authority, net (total)
                      18
                      8
                      6

                      4190
                      Outlays, net (total)
                      10
                      –5
                      –4

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Position with respect to appropriations act limitation on obligations:

                      1111
                      Direct loan obligations from current-year authority
                      44
                      44
                      42

                      1121
                      Limitation available from carry-forward
                      8

                      1143
                      Unobligated limitation carried forward (P.L. xx) (-)
                      –8

                      1150
                      Total direct loan obligations
                      44
                      44
                      42

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      174
                      184
                      187

                      1231
                      Disbursements: Direct loan disbursements
                      41
                      35
                      34

                      1251
                      Repayments: Repayments and prepayments
                      –30
                      –31
                      –32

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

                      1290
                      Outstanding, end of year
                      184
                      187
                      188

          Balance Sheet (in millions of dollars)

                      Identification code 073–4148–0–3–376
                      2016 actual
                      2017 actual

                      ASSETS:

                      Federal assets:

                      1101
                      Fund balances with Treasury
                      40
                      43

                      Investments in US securities:

                      1106
                      Receivables, net
                      1
                      1

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

                      1401
                      Direct loans receivable, gross
                      174
                      184

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

                      1499
                      Net present value of assets related to direct loans
                      161
                      171

                      1999
                      Total assets
                      202
                      215

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      201
                      213

                      2104
                      Resources payable to Treasury (Downward Reestimate)
                      1
                      2

                      2201
                      Non-Federal liabilities: Accounts payable

                      2999
                      Total liabilities
                      202
                      215

                      4999
                      Total liabilities and net position
                      202
                      215

             Business Guaranteed Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0005
                      Other Expenses
                      35
                      75
                      75

                      Credit program obligations:

                      0711
                      Default claim payments on principal
                      1,054
                      1,550
                      1,680

                      0712
                      Default claim payments on interest
                      68
                      100
                      100

                      0713
                      Payment of interest to Treasury
                      64
                      80
                      80

                      0740
                      Negative subsidy obligations

                      155

                      0742
                      Downward reestimates paid to receipt accounts
                      846
                      1,397

                      0743
                      Interest on downward reestimates
                      184
                      219

                      0791
                      Direct program activities, subtotal
                      2,216
                      3,346
                      2,015

                      0900
                      Total new obligations, unexpired accounts
                      2,251
                      3,421
                      2,090

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      3,475
                      4,424
                      3,446

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      228

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      3,048
                      2,443
                      2,467

                      1801
                      Change in uncollected payments, Federal sources
                      –18

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –58

                      1850
                      Spending auth from offsetting collections, mand (total)
                      2,972
                      2,443
                      2,467

                      1900
                      Budget authority (total)
                      3,200
                      2,443
                      2,467

                      1930
                      Total budgetary resources available
                      6,675
                      6,867
                      5,913

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      4,424
                      3,446
                      3,823

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      27
                      24
                      1,477

                      3010
                      New obligations, unexpired accounts
                      2,251
                      3,421
                      2,090

                      3020
                      Outlays (gross)
                      –2,254
                      –1,968
                      –1,889

                      3050
                      Unpaid obligations, end of year
                      24
                      1,477
                      1,678

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –38
                      –20
                      –20

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      18

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –20
                      –20
                      –20

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      –11
                      4
                      1,457

                      3200
                      Obligated balance, end of year
                      4
                      1,457
                      1,658

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      3,200
                      2,443
                      2,467

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      2,254
                      1,968
                      1,889

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

                      4120
                      Subsidy from program account
                      –11
                      –7
                      –6

                      4120
                      Upward reestimate
                      –520
                      –112

                      4120
                      Interest on reestimate
                      –117
                      –14

                      4122
                      Interest on uninvested funds
                      –93
                      –90
                      –90

                      4123
                      Fees
                      –1,378
                      –1,380
                      –1,531

                      4123
                      Principal
                      –784
                      –780
                      –780

                      4123
                      Interest
                      –63
                      –60
                      –60

                      4123
                      Sale of Foreclosed Property
                      –8

                      4123
                      Other
                      –74

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –3,048
                      –2,443
                      –2,467

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      18

                      4160
                      Budget authority, net (mandatory)
                      170

                      4170
                      Outlays, net (mandatory)
                      –794
                      –475
                      –578

                      4180
                      Budget authority, net (total)
                      170

                      4190
                      Outlays, net (total)
                      –794
                      –475
                      –578

          Status of Guaranteed Loans (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Position with respect to appropriations act limitation on commitments:

                      2111
                      Guaranteed loan commitments from current-year authority
                      58,500
                      58,103
                      54,500

                      2121
                      Limitation available from carry-forward

                      2142
                      Uncommitted loan guarantee limitation
                      –18,241

                      2150
                      Total guaranteed loan commitments
                      40,259
                      58,103
                      54,500

                      2199
                      Guaranteed amount of guaranteed loan commitments
                      33,858
                      50,794
                      50,794

                      Cumulative balance of guaranteed loans outstanding:

                      2210
                      Outstanding, start of year
                      113,113
                      121,005
                      127,012

                      2231
                      Disbursements of new guaranteed loans
                      29,187
                      28,799
                      39,854

                      2251
                      Repayments and prepayments
                      –19,804
                      –21,186
                      –22,238

                      Adjustments:

                      2261
                      Terminations for default that result in loans receivable
                      –1,220
                      –1,249
                      –1,254

                      2263
                      Terminations for default that result in claim payments
                      –271
                      –357
                      –358

                      2264
                      Other adjustments, net

                      2290
                      Outstanding, end of year
                      121,005
                      127,012
                      143,016

                      Memorandum:

                      2299
                      Guaranteed amount of guaranteed loans outstanding, end of year
                      99,512
                      104,453
                      117,615

                      Addendum:

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

                      2310
                      Outstanding, start of year
                      4,201
                      3,710
                      3,778

                      2331
                      Disbursements for guaranteed loan claims
                      1,008
                      1,320
                      1,326

                      2351
                      Repayments of loans receivable
                      –693
                      –376
                      –452

                      2361
                      Write-offs of loans receivable
                      –907
                      –876
                      –889

                      2364
                      Other adjustments, net
                      101

                      2390
                      Outstanding, end of year
                      3,710
                      3,778
                      3,763

          Balance Sheet (in millions of dollars)

                      Identification code 073–4149–0–3–376
                      2016 actual
                      2017 actual

                      ASSETS:

                      Federal assets:

                      1101
                      Fund balances with Treasury
                      3,465
                      4,429

                      Investments in US securities:

                      1106
                      Receivables, net
                      645
                      135

                      1206
                      Non-Federal assets: Receivables, net
                      158
                      99

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

                      1501
                      Defaulted guaranteed loans receivable, gross
                      4,201
                      3,710

                      1504
                      Foreclosed property
                      17
                      9

                      1505
                      Allowance for subsidy cost (-)
                      –3,299
                      –2,829

                      1599
                      Net present value of assets related to defaulted guaranteed loans
                      919
                      890

                      1999
                      Total assets
                      5,187
                      5,553

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      1,727
                      1,897

                      2105
                      Other
                      1,071
                      1,087

                      Non-Federal liabilities:

                      2201
                      Accounts payable
                      18
                      13

                      2204
                      Liabilities for loan guarantees
                      2,371
                      2,556

                      2999
                      Total liabilities
                      5,187
                      5,553

                      4999
                      Total liabilities and net position
                      5,187
                      5,553

             Business Loan Fund Liquidating Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0005
                      Guaranteed loan default claims
                      3

                      0006
                      Interest to UST

                      1
                      1

                      0007
                      Other Expenses

                      1
                      1

                      0600
                      Direct program activities, subtotal
                      3
                      2
                      2

                      0900
                      Total new obligations, unexpired accounts (object class 33.0)
                      3
                      2
                      2

                      Budgetary resources:

                      Budget authority:

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      3
                      2
                      2

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      2
                      3
                      3

                      1820
                      Capital transfer of spending authority from offsetting collections to general fund
                      –2
                      –3
                      –3

                      1900
                      Budget authority (total)
                      3
                      2
                      2

                      1930
                      Total budgetary resources available
                      3
                      2
                      2

                      Change in obligated balance:

                      Unpaid obligations:

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

                      3010
                      New obligations, unexpired accounts
                      3
                      2
                      2

                      3020
                      Outlays (gross)
                      –1
                      –2

                      3050
                      Unpaid obligations, end of year
                      3
                      3
                      5

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      1
                      3
                      3

                      3200
                      Obligated balance, end of year
                      3
                      3
                      5

                      Budget authority and outlays, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      3
                      2
                      2

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority

                      2

                      4101
                      Outlays from mandatory balances
                      1

                      4110
                      Outlays, gross (total)
                      1
                      2

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4123
                      Non-Federal sources
                      –2
                      –3
                      –3

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

                      4190
                      Outlays, net (total)
                      –1
                      –1
                      –3

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      5
                      5
                      3

                      1251
                      Repayments: Repayments and prepayments

                      –1
                      –1

                      1263
                      Write-offs for default: Write-offs for default

                      –1
                      –1

                      1290
                      Outstanding, end of year
                      5
                      3
                      1

          Status of Guaranteed Loans (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2017 actual
                      2018 est.
                      2019 est.

                      Cumulative balance of guaranteed loans outstanding:

                      2210
                      Outstanding, start of year
                      1
                      1
                      1

                      2251
                      Repayments and prepayments

                      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
                      11
                      2
                      2

                      2331
                      Disbursements for guaranteed loan claims

                      2351
                      Repayments of loans receivable

                      2361
                      Write-offs of loans receivable
                      –1

                      2364
                      Other adjustments, net
                      –8

                      2390
                      Outstanding, end of year
                      2
                      2
                      2

          Balance Sheet (in millions of dollars)

                      Identification code 073–4154–0–3–376
                      2016 actual
                      2017 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury
                      1
                      3

                      1206
                      Non-Federal assets: Receivables, net

                      2

                      1601
                      Direct loans, gross
                      5
                      5

                      1603
                      Allowance for estimated uncollectible loans and interest (-)
                      –2
                      –3

                      1699
                      Value of assets related to direct loans
                      3
                      2

                      1701
                      Defaulted guaranteed loans, gross
                      11
                      2

                      1703
                      Allowance for estimated uncollectible loans and interest (-)
                      –3
                      –2

                      1799
                      Value of assets related to loan guarantees
                      8

                      1801
                      Other Federal assets: Cash and other monetary assets
                      2

                      1999
                      Total assets
                      14
                      7

                      LIABILITIES:

                      Federal liabilities:

                      2102
                      Interest payable

                      2

                      2104
                      Resources payable to Treasury
                      13
                      4

                      2201
                      Non-Federal liabilities: Accounts payable
                      1
                      1

                      2999
                      Total liabilities
                      14
                      7

                      4999
                      Total liabilities and net position
                      14
                      7

             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 2018 appropriation for this account was not enacted at the time the budget was prepared; therefore, the
             budget assumes this account is operating under the Continuing Appropriations Act, 2018 (Division D of P.L. 115–56, as amended).
             The amounts included for 2018 reflect the annualized level provided by the continuing resolution.

          Program and Financing (in millions of dollars)

                      Identification code 073–1152–0–1–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      Credit program obligations:

                      0701
                      Direct loan subsidy
                      187
                      138
                      135

                      0705
                      Reestimates of direct loan subsidy
                      8
                      8

                      0706
                      Interest on reestimates of direct loan subsidy
                      2
                      4

                      0709
                      Administrative expenses
                      385
                      185
                      186

                      0900
                      Total new obligations, unexpired accounts
                      582
                      335
                      321

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      568
                      688
                      590

                      1001
                      Discretionary unobligated balance brought fwd, Oct 1
                      568
                      688

                      1021
                      Recoveries of prior year unpaid obligations
                      56
                      40
                      40

                      1050
                      Unobligated balance (total)
                      624
                      728
                      630

                      Budget authority:

                      Appropriations, discretionary:

                      1100
                      Appropriation
                      186
                      27
                      27

                      1100
                      Appropriation-Discretionary, Disaster Relief pursuant to 2011 Budget Control Act, Appropriations Committee
                      450
                      158
                      159

                      1160
                      Appropriation, discretionary (total)
                      636
                      185
                      186

                      Appropriations, mandatory:

                      1200
                      Appropriation
                      10
                      12

                      1900
                      Budget authority (total)
                      646
                      197
                      186

                      1930
                      Total budgetary resources available
                      1,270
                      925
                      816

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      688
                      590
                      495

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      103
                      114
                      62

                      3010
                      New obligations, unexpired accounts
                      582
                      335
                      321

                      3020
                      Outlays (gross)
                      –515
                      –347
                      –311

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –56
                      –40
                      –40

                      3050
                      Unpaid obligations, end of year
                      114
                      62
                      32

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      103
                      114
                      62

                      3200
                      Obligated balance, end of year
                      114
                      62
                      32

                      Budget authority and outlays, net:

                      Discretionary:

                      4000
                      Budget authority, gross
                      636
                      185
                      186

                      Outlays, gross:

                      4010
                      Outlays from new discretionary authority
                      385
                      185
                      186

                      4011
                      Outlays from discretionary balances
                      120
                      150
                      125

                      4020
                      Outlays, gross (total)
                      505
                      335
                      311

                      Mandatory:

                      4090
                      Budget authority, gross
                      10
                      12

                      Outlays, gross:

                      4100
                      Outlays from new mandatory authority
                      10
                      12

                      4180
                      Budget authority, net (total)
                      646
                      197
                      186

                      4190
                      Outlays, net (total)
                      515
                      347
                      311

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

                      Identification code 073–1152–0–1–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct loan levels supportable by subsidy budget authority:

                      115001
                      Disaster Assistance Loans
                      1,297
                      1,100
                      1,100

                      115999
                      Total direct loan levels
                      1,297
                      1,100
                      1,100

                      Direct loan subsidy (in percent):

                      132001
                      Disaster Assistance Loans
                      14.42
                      12.54
                      12.29

                      132999
                      Weighted average subsidy rate
                      14.42
                      12.54
                      12.29

                      Direct loan subsidy budget authority:

                      133001
                      Disaster Assistance Loans
                      187
                      138
                      135

                      133999
                      Total subsidy budget authority
                      187
                      138
                      135

                      Direct loan subsidy outlays:

                      134001
                      Disaster Assistance Loans
                      120
                      76
                      88

                      134999
                      Total subsidy outlays
                      120
                      76
                      88

                      Direct loan reestimates:

                      135001
                      Disaster Assistance Loans
                      –155
                      –112

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

                      135999
                      Total direct loan reestimates
                      –158
                      –114

                      Administrative expense data:

                      3510
                      Budget authority
                      385
                      184
                      184

                      3590
                      Outlays from new authority
                      385
                      184
                      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 2019, the Budget supports $1.1 billion in loans, the ten-year normalized average for such loans. The Budget requests $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.

          Object Classification (in millions of dollars)

                      Identification code 073–1152–0–1–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Direct obligations:

                      25.2
                      Other services from non-Federal sources
                      385
                      185
                      186

                      41.0
                      Grants, subsidies, and contributions
                      197
                      150
                      135

                      99.9
                      Total new obligations, unexpired accounts
                      582
                      335
                      321

             Disaster Direct Loan Financing Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Obligations by program activity:

                      0003
                      Other
                      16
                      25
                      25

                      Credit program obligations:

                      0710
                      Direct loan obligations
                      1,297
                      1,100
                      1,100

                      0713
                      Payment of interest to Treasury
                      248
                      350
                      350

                      0742
                      Downward reestimates paid to receipt accounts
                      116
                      82

                      0743
                      Interest on downward reestimates
                      51
                      45

                      0791
                      Direct program activities, subtotal
                      1,712
                      1,577
                      1,450

                      0900
                      Total new obligations, unexpired accounts
                      1,728
                      1,602
                      1,475

                      Budgetary resources:

                      Unobligated balance:

                      1000
                      Unobligated balance brought forward, Oct 1
                      411
                      126
                      312

                      1021
                      Recoveries of prior year unpaid obligations
                      460
                      99
                      99

                      1023
                      Unobligated balances applied to repay debt
                      –650

                      1050
                      Unobligated balance (total)
                      221
                      225
                      411

                      Financing authority:

                      Borrowing authority, mandatory:

                      1400
                      Borrowing authority
                      1,278
                      1,089
                      965

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      1,069
                      1,500
                      1,500

                      1801
                      Change in uncollected payments, Federal sources
                      12

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

                      –900
                      –900

                      1825
                      Spending authority from offsetting collections applied to repay debt
                      –726

                      1850
                      Spending auth from offsetting collections, mand (total)
                      355
                      600
                      600

                      1900
                      Budget authority (total)
                      1,633
                      1,689
                      1,565

                      1930
                      Total budgetary resources available
                      1,854
                      1,914
                      1,976

                      Memorandum (non-add) entries:

                      1941
                      Unexpired unobligated balance, end of year
                      126
                      312
                      501

                      Change in obligated balance:

                      Unpaid obligations:

                      3000
                      Unpaid obligations, brought forward, Oct 1
                      856
                      805
                      795

                      3010
                      New obligations, unexpired accounts
                      1,728
                      1,602
                      1,475

                      3020
                      Outlays (gross)
                      –1,319
                      –1,513
                      –1,513

                      3040
                      Recoveries of prior year unpaid obligations, unexpired
                      –460
                      –99
                      –99

                      3050
                      Unpaid obligations, end of year
                      805
                      795
                      658

                      Uncollected payments:

                      3060
                      Uncollected pymts, Fed sources, brought forward, Oct 1
                      –103
                      –115
                      –115

                      3070
                      Change in uncollected pymts, Fed sources, unexpired
                      –12

                      3090
                      Uncollected pymts, Fed sources, end of year
                      –115
                      –115
                      –115

                      Memorandum (non-add) entries:

                      3100
                      Obligated balance, start of year
                      753
                      690
                      680

                      3200
                      Obligated balance, end of year
                      690
                      680
                      543

                      Financing authority and disbursements, net:

                      Mandatory:

                      4090
                      Budget authority, gross
                      1,633
                      1,689
                      1,565

                      Financing disbursements:

                      4110
                      Outlays, gross (total)
                      1,319
                      1,513
                      1,513

                      Offsets against gross financing authority and disbursements:

                      Offsetting collections (collected) from:

                      4120
                      Payments from program account
                      –120
                      –76
                      –88

                      4120
                      Upward reestimate
                      –8
                      –8

                      4120
                      Interest on upward reestimate
                      –2
                      –4

                      4122
                      Interest income from Treasury
                      –61
                      –230
                      –230

                      4123
                      Repayments of principal, net
                      –878
                      –1,182
                      –1,182

                      4130
                      Offsets against gross budget authority and outlays (total)
                      –1,069
                      –1,500
                      –1,500

                      Additional offsets against financing authority only (total):

                      4140
                      Change in uncollected pymts, Fed sources, unexpired
                      –12

                      4160
                      Budget authority, net (mandatory)
                      552
                      189
                      65

                      4170
                      Outlays, net (mandatory)
                      250
                      13
                      13

                      4180
                      Budget authority, net (total)
                      552
                      189
                      65

                      4190
                      Outlays, net (total)
                      250
                      13
                      13

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Position with respect to appropriations act limitation on obligations:

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

                      1143
                      Unobligated limitation carried forward (P.L. xx) (-)
                      –2,891
                      –3,088
                      –3,088

                      1150
                      Total direct loan obligations
                      1,297
                      1,100
                      1,100

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      6,027
                      6,191
                      6,316

                      1231
                      Disbursements: Direct loan disbursements
                      888
                      712
                      1,032

                      1251
                      Repayments: Repayments and prepayments
                      –638
                      –500
                      –490

                      Write-offs for default:

                      1263
                      Direct loans
                      –85
                      –87
                      –89

                      1264
                      Other adjustments, net (+ or -)
                      –1

                      1290
                      Outstanding, end of year
                      6,191
                      6,316
                      6,769

          Balance Sheet (in millions of dollars)

                      Identification code 073–4150–0–3–453
                      2016 actual
                      2017 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury
                      1,174
                      417

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

                      1401
                      Direct loans receivable, gross
                      6,027
                      6,191

                      1405
                      Allowance for subsidy cost (-)
                      –937
                      –896

                      1499
                      Net present value of assets related to direct loans
                      5,090
                      5,295

                      1999
                      Total assets
                      6,264
                      5,712

                      LIABILITIES:

                      Federal liabilities:

                      2103
                      Debt
                      6,260
                      5,709

                      2105
                      Other
                      4
                      3

                      2999
                      Total liabilities
                      6,264
                      5,712

                      4999
                      Total liabilities and net position
                      6,264
                      5,712

             Disaster Loan Fund Liquidating Account

             Program and Financing (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Budgetary resources:

                      Budget authority:

                      Spending authority from offsetting collections, mandatory:

                      1800
                      Collected
                      1
                      1
                      1

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

                      Budget authority and outlays, net:

                      Mandatory:

                      Offsets against gross budget authority and outlays:

                      Offsetting collections (collected) from:

                      4123
                      Non-Federal sources
                      –1
                      –1
                      –1

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

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

          Status of Direct Loans (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2017 actual
                      2018 est.
                      2019 est.

                      Cumulative balance of direct loans outstanding:

                      1210
                      Outstanding, start of year
                      2
                      2
                      2

                      1290
                      Outstanding, end of year
                      2
                      2
                      2

          Balance Sheet (in millions of dollars)

                      Identification code 073–4153–0–3–453
                      2016 actual
                      2017 actual

                      ASSETS:

                      1101
                      Federal assets: Fund balances with Treasury

                      1601
                      Direct loans, net
                      2
                      2

                      1603
                      Allowance for estimated uncollectible loans and interest (-)

                      1699
                      Value of assets related to direct loans
                      2
                      2

                      1999
                      Total assets
                      2
                      2

                      LIABILITIES:

                      2104
                      Federal liabilities: Resources payable to Treasury
                      2
                      2

                      4999
                      Total liabilities and net position
                      2
                      2

             GENERAL FUND RECEIPT ACCOUNTS

             (in millions of dollars)

                      2017 actual
                      2018 est.
                      2019 est.

                      Offsetting receipts from the public:

                      073–272130
                      Disaster Loan Program, Downward Reestimates of Subsidies
                      168
                      126

                      073–272210
                      Business Loan Program, Negative Subsidies

                      155

                      073–272230
                      Business Loan Program, Downward Reestimates of Subsidies
                      1,033
                      1,617

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

                      General Fund Offsetting receipts from the public
                      1,200
                      1,743
                      155

             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.SEC. 522.   Of the unobligated balances from prior year appropriations available under the "Business Loans Program Account" heading for
                the Certified Development Company Program, $50,000,000 are hereby permanently cancelled: Provided, That no amounts may be
                cancelled from amounts that were designated by the Congress as an emergency requirement pursuant to a concurrent resolution
                on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985. SEC. 523.   REPEAL OF CERTAIN DISASTER AND BUSINESS LOAN PROGRAM AUTHORITIES. (a)  Section 42 of the Small Business Act (15 U.S.C. 657n) is repealed.
          (b)  Section 7(c) of the Small Business Act (15 U.S.C. 636(c)) is repealed.
          (c)  Section 12085 of Public Law 110–246 is repealed.
          (d)  Section 7(a)(31)(H) of the Small Business Act (15 U.S.C. 636(a)(31)(H)) is repealed. SEC. 524. AMENDMENTS TO 7(m) MICROLOAN PROGRAM.(a) Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—(1) in subparagraph (4)(E) by striking ''25 percent'' in clauses (i) and (ii) and inserting ''50 percent'';
             (2) in paragraph (7), by striking subparagraph (B); and
             (3)  in paragraph (11), by— (A)  striking "; or" and inserting "." in subclause (A)(iv)(II); and
                (B)  striking "," and inserting "; or" in clause (A)(v).

          SEC. 525. 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 inserting "; 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.".

          SEC. 526.  INCREASED EXPRESS LOAN LIMIT.—Section 7(a)(31)(D) of the Small Business Act (15 U.S.C. 636(a)(31)(D)) is amended by striking
                "$350,000" and inserting "$1,000,000". SEC. 527.  CHANGES TO 7(a) SECONDARY MARKET FEE PROVISIONS.  (a)  Section 5(g)(2) of the Small Business Act is amended by: (1)  renumbering the current paragraph as subparagraph (A); and
             (2)  adding a new subparagraph (B) to read as follows:"(B) With respect to the Administration's guarantee of the timely payment
                      of the principal and interest on the trust certificates issued under this subsection, the Administration may assess, collect,
                      and retain an annual fee, in an amount established once annually by the Administration in the Administration's budget request
                      to Congress, not to exceed 0.05 percent per year of the outstanding balance of such trust certificates. The fee shall, at
                      a minimum, offset the cost (as that term is defined in section 502 of the Federal Credit Reform Act of 1990) to the Administration
                      of such guarantee, and any amounts received that exceed the cost of the timely payment guarantee shall be maintained in accordance
                      with the Federal Credit Reform Act. The fee shall be payable solely by the holders of such trust certificates and shall not
                      be charged to any borrower whose loan is represented in the secondary market. The Administration may contract with an agent
                      to carry out, on behalf of the Administration, the assessment and collection of this fee. The fee shall be deducted from the
                      amounts otherwise payable to such holders of the trust certificates."