[Federal Register Volume 74, Number 238 (Monday, December 14, 2009)]
[Notices]
[Page 66175]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-29673]


-----------------------------------------------------------------------

SMALL BUSINESS ADMINISTRATION


Export Express Pilot Program

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

ACTION: Notice of Pilot Program extension.

-----------------------------------------------------------------------

SUMMARY: This notice announces the extension of SBA's Export Express 
Pilot Program until December 31, 2010. This extension will allow time 
for the Agency to further market and evaluate this specific loan 
program for exporters and analyze the Program's performance during the 
next 12 months.

DATES: The Export Express Pilot Program is extended under this notice 
until December 31, 2010.

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: Established in 1998, the Export Express 
Pilot Program assists current and prospective small business 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 a streamlined process to small business exporters and their 
lenders. The maximum loan amount under this Program is $250,000. The 
pilot was scheduled to end on December 31, 2009. This notice announces 
the extension of SBA's Export Express Pilot Program until December 31, 
2010.
    SBA estimates that small business exports grew by 58% from 2002 to 
2007, from $300 billion to $475 billion (Source: SBA, Bureau of 
Economic Analysis GDP data and Census Bureau A Profile of US Exporting 
Companies). Almost a quarter of a million small businesses export, and 
they account for 29 percent of all U.S. exports (Source: A Profile of 
US Exporting Companies, Census Bureau). Designed to serve the 
particular capital needs of small business exporters, the number of 
Export Express loans approved in 2009 was double those closed in 2008 
(227 versus 104) and the approved loan dollar amount increased by more 
than 91% ($15M versus $8M). In addition, the number of lenders 
delegated the authority to use expedited loan processing was increased 
by five in 2009. These indicators reflect an increasing utility and 
need for the Export Express Program. Extension of this pilot program 
through December 31, 2010 will enable the Agency to analyze performance 
and refine the elements/structure of the Export Express Loan Pilot 
Program.
    In prior years, the Agency stated that it would complete an 
analysis of this program to help determine its long-term viability. 
This analysis primarily includes lender and borrower participation in 
the program as well as portfolio performance. Because this year the 
program was changed through Recovery Act provisions that reduced 
program fees and increased guarantees, the Agency is unable to separate 
baseline program statistics from this year's special circumstances and 
is therefore providing an additional pilot year to review performance.

    Authority: 13 CFR 120.3.

Richard Blewett,
Acting Director, Office of Financial Assistance.
[FR Doc. E9-29673 Filed 12-11-09; 8:45 am]
BILLING CODE 8025-01-P