[Federal Register Volume 73, Number 180 (Tuesday, September 16, 2008)]
[Notices]
[Page 53476]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-21553]


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SMALL BUSINESS ADMINISTRATION


Export Express Pilot Program

AGENCY: U.S. Small Business Administration (SBA).

ACTION: Notice of Pilot Program extension.

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SUMMARY: This notice announces the extension of SBA's Export Express 
Pilot Program until December 31, 2009. This extension will allow time 
for the Agency to continue its evaluation of this loan program for 
exporters, including the possible delivery of export express loans by 
lenders in SBA's Preferred Lenders-Export Working Capital Program (PLP-
EWCP), consultation with lenders to solicit feedback on future program 
enhancements, and analysis of the Program's performance over the next 
15 months.

DATES: The Export Express Pilot Program is extended under this notice 
until December 31, 2009.

FOR FURTHER INFORMATION CONTACT: Patrick Tunison, Office of 
International Trade, U.S. Small Business Administration, 409 Third 
Street, SW., Washington, DC 20416; Telephone (202) 205-7429; 
[email protected].

SUPPLEMENTARY INFORMATION: The Export Express Pilot Program was 
established in 1998 to assist current and prospective small exporters, 
particularly those needing revolving lines of credit. Export Express is 
an SBA Pilot Program under the agency's 7(a) lending program that 
extends streamlined program requirements to small business exporters 
and lenders. The maximum loan amount under this Program is currently 
limited to $250,000. The pilot was scheduled to end on September 30, 
2008.
    This notice announces the extension of SBA's Export Express Pilot 
Program until December 31, 2009.
    Exports attributed to small businesses have grown from $300 billion 
in 2002 to $477 billion in 2007. During this time period, the number of 
small business exporters grew from 215,000 to 237,000, representing 97% 
of all U.S. exporters. In order for the Export Express loan product to 
reach maximum potential and serve the special capital needs of U.S. 
small business exporters, SBA is refocusing its efforts on Export 
Express and developing a strategic marketing plan to the U.S. small 
business community and to the Agency's lending partners, including its 
Preferred Lenders for both the domestic 7(a) loan programs as well as 
the Export Working Capital Loan Program (PLP-EWCP).
    The further extension of this pilot program through December 31, 
2009 will enable the Agency to analyze the program's existing 
performance and to obtain input from international lenders regarding 
the current structure of the Export Express Program, so that any future 
changes to the program are based on lender input and performance 
analysis.

    Authority: 13 CFR 120.3.

Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. E8-21553 Filed 9-15-08; 8:45 am]
BILLING CODE 8025-01-P