On September 17, 2019, SBA provided an advance notice of proposed rulemaking (“ANPRM”) seeking the public’s comments to changes to the regulations governing SBA’s Export Loan Programs in an ongoing effort to increase lender participation and usage of such programs. See 84 FR 48807, RIN: 3245-AG95. According to the SBA, small to medium sized businesses account for nearly 98 percent of U.S. exporters, creating a need to provide financing for such enterprises. Currently, the SBA 7(a) loan program offers three loan products for small business exporters: the Export Express Program, Export Working Capital Program, and International Trade Loan Program. SBA is soliciting comments to improve these programs through November 18, 2019.
SBA has requested feedback on the Export Loan Programs by outlining questions which focus on:
Notwithstanding the questions SBA posed in its ANPRM, SBA welcomes any general feedback or suggestions that would make the Export Loan Programs a viable financing option and increase participation within the government guaranteed lending community. Initial feedback from the public shows potential interest in expanding the eligible use of proceeds for International Trade Loans to finance change of ownership transactions that benefit the small business exporter. Participants in the Export Loan Programs should take the opportunity to provide comments that would enhance these financing options and expand opportunities for small business exporters. To comment, visit http://www.regulations.gov, enter Docket ID: SBA-2019-0009.
For more information on SBA’s Export Loan Programs and SBA compliance, contact the attorneys at Starfield & Smith at 215-542-7070 or email us at info@starfieldsmith.com.
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