{ "id": "R41146", "type": "CRS Report", "typeId": "R", "number": "R41146", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source_dir": "crsreports.congress.gov", "title": "Small Business Administration 7(a) Loan Guaranty Program", "retrieved": "2022-08-04T04:03:48.519068", "id": "R41146_135_2022-06-30", "formats": [ { "filename": "files/2022-06-30_R41146_830bc407de956ea7b773679558704fff7d711a13.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R41146/135", "sha1": "830bc407de956ea7b773679558704fff7d711a13" }, { "format": "HTML", "filename": "files/2022-06-30_R41146_830bc407de956ea7b773679558704fff7d711a13.html" } ], "date": "2022-06-30", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R41146", "type": "CRS Report" }, { "source_dir": 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true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R41146", "type": "CRS Report" }, { "source": "EveryCRSReport.com", "id": 623360, "date": "2020-04-30", "retrieved": "2020-04-30T22:13:31.199524", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is the agency\u2019s flagship loan program. It derives its name from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. 7(a) lending is expected to increase dramatically this fiscal year due to changes to the 7(a) program included in P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).\nThis report discusses the 7(a) program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nIn addition, this report discusses recent congressional and SBA actions to enhance small businesses\u2019 access to capital, including actions taken during and immediately following the Great Recession (2007-2009) and, more recently, to address the Coronavirus Disease 2019 (COVID-19) pandemic\u2019s adverse economic impact on the national economy.\nAmong its key features, the CARES Act\nestablishes a Paycheck Protection Program (PPP) under Section 7(a) of the Small Business Act to provide \u201ccovered loans\u201d with a 100% SBA loan guarantee, a maximum term of 10 years, and an interest rate not to exceed 4% to assist small businesses and other organizations that have been adversely affected by COVID-19. A covered loan is defined as a loan made to an eligible recipient from February 15, 2020, through June 30, 2020. The SBA has announced that these loans will have a two-year term at a 1.0% interest rate;\nwaives both the one-time up front loan guarantee fee and annual servicing fee, the no credit elsewhere requirement, and the requirements for collateral and a personal guarantee for a covered loan;\nexpands eligibility for a covered loan to include currently eligible businesses and any business, 501(c)(3) nonprofit organization, 501(c)(19) veteran\u2019s organization, or tribal business not currently eligible that has not more than 500 employees or, if applicable, the size standard in number of employees established by the Administration for the industry in which they operate. Sole proprietors, independent contractors, and eligible self-employed individuals are also eligible; \nunder specified conditions, provides for complete payment deferment relief on a covered loan for not more than one year, and similar relief for six months on existing 7(a) loans in a regular servicing status starting on the next payment due date. The SBA has announced that PPP loans will have six months of deferment relief, but interest will accrue and will need to be repaid; and\nunder specified conditions, provides for loan forgiveness of covered loans. \nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "becc13942f49920917da96d0800217c6000044dd", "filename": "files/20200430_R41146_becc13942f49920917da96d0800217c6000044dd.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "b6a221928a736395dd75180b25c2a26bf10dd03b", "filename": "files/20200430_R41146_b6a221928a736395dd75180b25c2a26bf10dd03b.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 621882, "date": "2020-04-06", "retrieved": "2020-04-11T23:09:27.422033", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is the agency\u2019s flagship loan program. It derives its name from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. 7(a) lending is expected to increase dramatically this fiscal year due to changes to the 7(a) program included in P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).\nThis report discusses the 7(a) program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nIn addition, this report discusses recent congressional and SBA actions to enhance small businesses\u2019 access to capital, including actions taken during and immediately following the Great Recession (2007-2009) and, more recently, to address the Coronavirus Disease 19 (COVID-19) pandemic\u2019s adverse economic impact on the national economy.\nAmong its key features, the CARES Act\nestablishes a Paycheck Protection Program under Section 7(a) of the Small Business Act to provide \u201ccovered loans\u201d with a 100% SBA loan guarantee, a maximum term of 10 years, and an interest rate not to exceed 4% to assist small businesses and other organizations that have been adversely affected by COVID-19. A covered loan is defined as a loan made to an eligible recipient from February 15, 2020, through June 30, 2020. The SBA has announced that these loans will have a two-year term at a 1.0% interest rate;\nwaives both the one-time up front loan guarantee fee and annual servicing fee, the no credit elsewhere requirement, and the requirements for collateral and a personal guarantee for a covered loan;\nexpands eligibility for a covered loan to include currently eligible businesses and any business, 501(c)(3) nonprofit organization, 501(c)(19) veteran\u2019s organization, or tribal business not currently eligible that has not more than 500 employees or, if applicable, the size standard in number of employees established by the Administration for the industry in which they operate. Sole proprietors, independent contractors, and eligible self-employed individuals are also eligible; \nunder specified conditions, provides for complete payment deferment relief on a covered loan for not more than one year, and similar relief for six months on existing 7(a) loans in a regular servicing status starting on the next payment due date. The SBA has announced that covered loans will have six months of deferment relief; and\nunder specified conditions, provides for loan forgiveness of covered loans. \nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "0dcb544e7de9e8edcef685d5cb01e3f5fa780f02", "filename": "files/20200406_R41146_0dcb544e7de9e8edcef685d5cb01e3f5fa780f02.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "0b6619012eda6640d9dd68e896c6b21747408b08", "filename": "files/20200406_R41146_0b6619012eda6640d9dd68e896c6b21747408b08.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 621653, "date": "2020-04-02", "retrieved": "2020-04-02T22:18:17.413067", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is the agency\u2019s flagship loan program. It derives its name from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. The total number and amount of 7(a) loans approved (and actually disbursed) is expected to increase dramatically this fiscal year due to changes to the 7(a) program included in P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).\nThis report discusses the 7(a) program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nIn addition, this report discusses recent congressional and SBA actions to enhance small businesses\u2019 access to capital, including actions taken during and immediately following the Great Recession (2007-2009) and, more recently, to address the COVID-19 pandemic\u2019s adverse economic impact on the national economy.\nAmong its key features, the CARES Act:\nestablishes a Paycheck Protection Program under Section 7(a) of the Small Business Act to provide \u201ccovered loans\u201d with a 100% SBA loan guarantee, a maximum term of 10 years, and an interest rate not to exceed 4% to assist small businesses and other organizations that have been adversely affected by COVID-19. A covered loan is defined as a loan made to an eligible recipient from February 15, 2020, through June 30, 2020. SBA guidance indicates that the loans will have a two-year term at a 0.5% interest rate;\nwaives both the one-time up front loan guarantee fee and annual servicing fee, the no credit elsewhere requirement, and the requirements for collateral and a personal guarantee for a covered loan;\nexpands eligibility for a covered loan to include currently eligible businesses and any business, 501(c)(3) nonprofit organization, 501(c)(19) veteran\u2019s organization, or tribal business not currently eligible that has not more than 500 employees or, if applicable, the size standard in number of employees established by the Administration for the industry in which they operate. Sole proprietors, independent contractors, and eligible self-employed individuals are also eligible; \nunder specified conditions, provides for the complete payment deferment relief on a covered loan for not more than one year, and similar relief for six months on existing 7(a) loans in a regular servicing status starting on the next payment due date; and\nunder specified conditions, provides for loan forgiveness of covered loans. \nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "bd95f25aa2abbe01da71f3c03c9843ef476f903c", "filename": "files/20200402_R41146_bd95f25aa2abbe01da71f3c03c9843ef476f903c.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "1507141b0044c90fdd9b24f9e50b1de0b5c05a6b", "filename": "files/20200402_R41146_1507141b0044c90fdd9b24f9e50b1de0b5c05a6b.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 621231, "date": "2020-03-30", "retrieved": "2020-03-30T22:15:52.889282", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is the agency\u2019s flagship loan program. It derives its name from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. The total number and amount of 7(a) loans approved (and actually disbursed) is expected to increase dramatically this fiscal year due to changes to the 7(a) program included in P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).\nThis report discusses the 7(a) program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nIn addition, this report discusses recent congressional and SBA actions to enhance small businesses\u2019 access to capital, including actions taken during and immediately following the Great Recession (2007-2009) and, more recently, to address the COVID-19 pandemic\u2019s adverse economic impact on the national economy.\nAmong its key features, the CARES Act:\nestablishes a Paycheck Protection Program under Section 7(a) of the Small Business Act to provide \u201ccovered loans\u201d with a 100% SBA loan guarantee, a maximum term of 10 years, and an interest rate not to exceed 4% to assist small businesses and other organizations that have been adversely affected by COVID-19. A covered loan is defined as a loan made to an eligible recipient from February 15, 2020, through June 30, 2020;\nwaives both the one-time up front loan guarantee fee and annual servicing fee, the no credit elsewhere requirement, and the requirements for collateral and a personal guarantee for a covered loan;\nexpands eligibility for a covered loan to include currently eligible businesses and any business, 501(c)(3) nonprofit organization, 501(c)(19) veteran\u2019s organization, or tribal business not currently eligible that has not more than 500 employees or, if applicable, the size standard in number of employees established by the Administration for the industry in which they operate. Sole proprietors, independent contractors, and eligible self-employed individuals are also eligible; \nunder specified conditions, provides for the complete payment deferment relief on a covered loan for not more than one year, and similar relief for six months on existing 7(a) loans in a regular servicing status starting on the next payment due date; and\nunder specified conditions, provides for loan forgiveness of covered loans. \nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "b8b451db68620a70c9aa08827d71950b7afc7338", "filename": "files/20200330_R41146_b8b451db68620a70c9aa08827d71950b7afc7338.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "a6170d9de5657851d0de949129cbcb5c728f248e", "filename": "files/20200330_R41146_a6170d9de5657851d0de949129cbcb5c728f248e.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 620630, "date": "2020-03-23", "retrieved": "2020-03-23T22:21:57.522981", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018, and it waived the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reduced the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014 through FY2019; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, $29 billion in FY2018, and $30 billion in FY2019 and FY2020.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nIn addition, this report briefly discusses bills and proposals to expand the 7(a) program to assist small businesses adversely affected by the coronavirus (COVID-19), including S. 3519, the Small Business Debt Relief Act; S. 3518, the COVID-19 RELIEF for Small Businesses Act of 2020; and S. 3548, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "c0e0099d32b571a88692343e20191c51f7628116", "filename": "files/20200323_R41146_c0e0099d32b571a88692343e20191c51f7628116.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "ffe75312ccc26bf981f9c2d92a4ef8d1745b34f1", "filename": "files/20200323_R41146_ffe75312ccc26bf981f9c2d92a4ef8d1745b34f1.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 618687, "date": "2020-03-04", "retrieved": "2020-03-06T17:01:32.338806", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018, and it waived the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reduced the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014 through FY2019; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, $29 billion in FY2018, and $30 billion in FY2019 and FY2020.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "ef2b1e4e37a07a950ad23b4fb8c15604deede0ae", "filename": "files/20200304_R41146_ef2b1e4e37a07a950ad23b4fb8c15604deede0ae.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "9dbdaa3b83cef9501a99a65a30df7f86b7e72a60", "filename": "files/20200304_R41146_9dbdaa3b83cef9501a99a65a30df7f86b7e72a60.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 606219, "date": "2019-10-15", "retrieved": "2019-10-15T22:13:04.146650", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2019, the SBA approved 51,907 7(a) loans totaling nearly $23.2 billion. The average approved 7(a) loan amount was $446,487. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018, and it waived the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reduced the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014 through FY2019; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, $29 billion in FY2018, and $30 billion in FY2019.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "7ce24d036688d642ae78cc15d82daf58e5a085bc", "filename": "files/20191015_R41146_7ce24d036688d642ae78cc15d82daf58e5a085bc.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "da42be01379b10bd0783be91cd7cef7587490ad9", "filename": "files/20191015_R41146_da42be01379b10bd0783be91cd7cef7587490ad9.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 603329, "date": "2019-08-01", "retrieved": "2019-08-12T22:11:58.653134", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2018, the SBA approved 60,353 7(a) loans totaling nearly $25.4 billion. The average approved 7(a) loan amount was $420,401. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018; and is waiving the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reducing the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, $29.0 billion in FY2018, and $30 billion in FY2019.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "06e841a672af298c6c9f199d1aee51225421a36e", "filename": "files/20190801_R41146_06e841a672af298c6c9f199d1aee51225421a36e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "733e58b3df4efa7fbe9362469f8e0e7ace22a009", "filename": "files/20190801_R41146_733e58b3df4efa7fbe9362469f8e0e7ace22a009.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 592625, "date": "2019-03-04", "retrieved": "2019-04-17T14:07:41.309881", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2018, the SBA approved 60,353 7(a) loans totaling nearly $25.4 billion. The average approved 7(a) loan amount was $420,401. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018; and is waiving the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reducing the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, $29.0 billion in FY2018, and $30 billion in FY2019.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41146", "sha1": "9c75cc7b21cf1e7c511f8582b99cb1931ae3a96e", "filename": "files/20190304_R41146_9c75cc7b21cf1e7c511f8582b99cb1931ae3a96e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41146", "sha1": "9393d223ee13a711aca201f7be36b2a0e1dcf1ad", "filename": "files/20190304_R41146_9393d223ee13a711aca201f7be36b2a0e1dcf1ad.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 589926, "date": "2019-01-16", "retrieved": "2019-01-18T15:25:53.093896", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2018, the SBA approved 60,353 7(a) loans totaling nearly $25.4 billion. The average approved 7(a) loan amount was $420,401. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans from FY2014 through FY2018; and is waiving the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reducing the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans from FY2015 through FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "9b1051b39a7b4da826d37ba2d58d7d27e0fc220e", "filename": "files/20190116_R41146_9b1051b39a7b4da826d37ba2d58d7d27e0fc220e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "d0ed420b18606df528f3f2cc0a42b39972a3edf8", "filename": "files/20190116_R41146_d0ed420b18606df528f3f2cc0a42b39972a3edf8.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 587383, "date": "2018-11-07", "retrieved": "2018-11-10T16:05:18.562509", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2018, the SBA approved 60,353 7(a) loans totaling nearly $25.4 billion. The average approved 7(a) loan amount was $420,401. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans in FY2014, FY2015, FY2016, FY2017, and FY2018; and is waiving the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reducing the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans in FY2015, FY2016, FY2017, and FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "07f5b86abba2cb3a935a2408239065dee2c96a09", "filename": "files/20181107_R41146_07f5b86abba2cb3a935a2408239065dee2c96a09.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "6aa15d117d113bd2fbbbd55bfbecbe7465e63c2b", "filename": "files/20181107_R41146_6aa15d117d113bd2fbbbd55bfbecbe7465e63c2b.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 587146, "date": "2018-10-31", "retrieved": "2018-11-02T13:13:26.914845", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2018, the SBA approved 60,353 7(a) loans totaling nearly $25.4 billion. The average approved 7(a) loan amount was $420,401. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans in FY2014, FY2015, FY2016, FY2017, and FY2018; and is waiving the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reducing the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans in FY2015, FY2016, FY2017, and FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "d8d0af543ed05c5f1e7458f2fd63ab2b16f972eb", "filename": "files/20181031_R41146_d8d0af543ed05c5f1e7458f2fd63ab2b16f972eb.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "89d1d46ed228eb34bd44106442783d34bab7df2a", "filename": "files/20181031_R41146_89d1d46ed228eb34bd44106442783d34bab7df2a.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 585356, "date": "2018-09-17", "retrieved": "2018-09-20T14:22:09.323657", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans in FY2014, FY2015, FY2016, FY2017, and FY2018; and will waive the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reduce the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans in FY2015, FY2016, FY2017, and FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "13a833cc7b901288ed153126e4e4ac6c38f53ea1", "filename": "files/20180917_R41146_13a833cc7b901288ed153126e4e4ac6c38f53ea1.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "2d7d0eb264ff2b1217d02e31d5e6827ab00c8a8b", "filename": "files/20180917_R41146_2d7d0eb264ff2b1217d02e31d5e6827ab00c8a8b.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 584907, "date": "2018-09-11", "retrieved": "2018-09-12T22:16:07.133018", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee for smaller 7(a) loans in FY2014, FY2015, FY2016, FY2017, and FY2018; and will waive the annual service fee for 7(a) loans of $150,000 or less made to small businesses located in a rural area or a HUBZone and reduce the up-front one-time guaranty fee for these loans from 2.0% to 0.6667% of the guaranteed portion of the loan in FY2019.\nThe SBA has also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) since January 1, 2014; and reduced the up-front, one-time loan guaranty fee on non-SBAExpress 7(a) loans to veterans in FY2015, FY2016, FY2017, and FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the veteran\u2019s fee waiver under the SBAExpress program, except during any upcoming fiscal year for which the President\u2019s budget, submitted to Congress, includes a cost for the 7(a) program, in its entirety, that is above zero.\nCongress also approved legislation that increased the 7(a) program\u2019s authorization limit from $18.75 billion (on disbursements) in FY2014 to $23.5 billion in FY2015, $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "91599e8191724816235df65abd88567fe67c7ea0", "filename": "files/20180911_R41146_91599e8191724816235df65abd88567fe67c7ea0.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "996ac52377565355a520344117894218743025d9", "filename": "files/20180911_R41146_996ac52377565355a520344117894218743025d9.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 582347, "date": "2018-06-27", "retrieved": "2018-06-29T13:44:38.145255", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nSome Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nCongress approved legislation that increased the 7(a) program\u2019s authorization limit from $23.5 billion in FY2015 to $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018. \nP.L. 115-189, the Small Business 7(a) Lending Oversight Reform Act of 2018, among other provisions, codified the SBA\u2019s Office of Credit Risk Management; required that office to annually undertake and report the findings of a risk analysis of the 7(a) program\u2019s loan portfolio; created a lender oversight committee within the SBA; authorized the Director of the Office of Credit Risk Management to undertake informal and formal enforcement actions against 7(a) lenders under specified conditions; redefined the credit elsewhere requirement; and authorized the SBA Administrator, starting in FY2019 and after providing at least 30 days\u2019 notice to specified congressional committees, to increase the amount of 7(a) loans not more than once during any fiscal year to not more than 115% of the 7(a) program\u2019s authorization limit.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "1125740a74593737fa8479ec69dd407bdadc3459", "filename": "files/20180627_R41146_1125740a74593737fa8479ec69dd407bdadc3459.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "342981576d8c05d5d2e94a6c6f90b13fae4b8f32", "filename": "files/20180627_R41146_342981576d8c05d5d2e94a6c6f90b13fae4b8f32.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 579737, "date": "2018-03-30", "retrieved": "2018-04-03T13:24:47.920874", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nSome Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nCongress approved legislation that increased the 7(a) program\u2019s authorization limit from $23.5 billion in FY2015 to $26.5 billion in FY2016, $27.5 billion in FY2017, and $29.0 billion in FY2018.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "fd144287432dedc8aea05365a86cc9f6faed8e54", "filename": "files/20180330_R41146_fd144287432dedc8aea05365a86cc9f6faed8e54.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "853e6200e0ecb20ed8da6930054c52c6dd593bb0", "filename": "files/20180330_R41146_853e6200e0ecb20ed8da6930054c52c6dd593bb0.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 579006, "date": "2018-03-09", "retrieved": "2018-03-12T03:33:48.364237", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nSome Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015; and P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "2b36b1f5e7a6e545facdfb2d10c5154587c7af1d", "filename": "files/20180309_R41146_2b36b1f5e7a6e545facdfb2d10c5154587c7af1d.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "964c4f9f4db86a4e05895099d6c428552f871697", "filename": "files/20180309_R41146_964c4f9f4db86a4e05895099d6c428552f871697.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 577587, "date": "2018-01-11", "retrieved": "2018-01-16T23:08:57.862538", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nSome Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015; and P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "f8e26c7a1cae8fdd5534b259b22200b5c8d39754", "filename": "files/20180111_R41146_f8e26c7a1cae8fdd5534b259b22200b5c8d39754.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "cda3d72881848ba43c485cde96ba46918455e649", "filename": "files/20180111_R41146_cda3d72881848ba43c485cde96ba46918455e649.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 575802, "date": "2017-11-24", "retrieved": "2017-11-28T14:31:28.384196", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015; and P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "859354bcaa999fba49450ebf625073c2eb7b61d3", "filename": "files/20171124_R41146_859354bcaa999fba49450ebf625073c2eb7b61d3.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "42ce7716a693a53847d3e865e66b43096d5afb74", "filename": "files/20171124_R41146_42ce7716a693a53847d3e865e66b43096d5afb74.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 575159, "date": "2017-11-03", "retrieved": "2017-11-09T14:12:41.223200", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2017, the SBA approved 62,430 7(a) loans totaling more than $25.4 billion. The average approved 7(a) loan amount was $407,616. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; and the up-front, one-time loan guaranty fee for 7(a) loans of $125,000 or less approved in FY2018.\nThe SBA also waived the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $125,001 to $350,000 in FY2018.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015; and P.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "e1937bd0a997f0754c16812a2dfc6017946947eb", "filename": "files/20171103_R41146_e1937bd0a997f0754c16812a2dfc6017946947eb.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "889ca98298194e634529f3aea4e5c64a2b49e5c8", "filename": "files/20171103_R41146_889ca98298194e634529f3aea4e5c64a2b49e5c8.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 465450, "date": "2017-09-15", "retrieved": "2017-10-02T22:23:39.452652", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2016, the SBA approved 64,073 7(a) loans totaling more than $24.1 billion. The average approved 7(a) loan amount was $376,537. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "56c6f5a6393608b8f1ed81ea9a58edfe89f2a45e", "filename": "files/20170915_R41146_56c6f5a6393608b8f1ed81ea9a58edfe89f2a45e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "5445c9088d69ae832ebb48ae4e54150560fac98c", "filename": "files/20170915_R41146_5445c9088d69ae832ebb48ae4e54150560fac98c.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 461256, "date": "2017-05-15", "retrieved": "2017-08-22T14:47:45.697193", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2016, the SBA approved 64,073 7(a) loans totaling more than $24.1 billion. The average approved 7(a) loan amount was $376,537. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe SBA waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nP.L. 115-31, the Consolidated Appropriations Act, 2017, increased the 7(a) program\u2019s authorization limit to $27.5 billion for FY2017 from $26.5 billion in FY2016.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "52133540ef6283392e6659391d1c13859a2faa6e", "filename": "files/20170515_R41146_52133540ef6283392e6659391d1c13859a2faa6e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "7f0a8b4dd9c99fe9587c9502541675c5722b0f19", "filename": "files/20170515_R41146_7f0a8b4dd9c99fe9587c9502541675c5722b0f19.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 457683, "date": "2016-12-14", "retrieved": "2016-12-22T16:31:23.272809", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2016, the SBA approved 64,073 7(a) loans totaling more than $24.1 billion. The average approved 7(a) loan amount was $376,537. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some Members of Congress have argued that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress to provide more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raise the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and establish an alternative size standard for the 7(a) and 504/CDC loan programs.\nThe Obama Administration waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for 7(a) loans of $150,000 or less approved in FY2017; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "5ca6d4c67ecb19d58b6701388e971b119ad45eb4", "filename": "files/20161214_R41146_5ca6d4c67ecb19d58b6701388e971b119ad45eb4.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "f25401d77e460f6ba56f6df1116aa6bb023b503c", "filename": "files/20161214_R41146_f25401d77e460f6ba56f6df1116aa6bb023b503c.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 456846, "date": "2016-11-03", "retrieved": "2016-11-28T21:12:40.055334", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2016, the SBA approved 64,073 7(a) loans totaling more than $24.1 billion. The average approved 7(a) loan amount was $376,537. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some, including President Obama, argue that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress that provided more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raised the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and established an alternative size standard for the 7(a) and 504/CDC loan programs. \nThe Obama Administration waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty for 7(a) loans of $150,000 or less approved in FY2017; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "0d5c9e3e8339860c906cf7ad9cda996eb9d72478", "filename": "files/20161103_R41146_0d5c9e3e8339860c906cf7ad9cda996eb9d72478.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "df57db698c872b0118141483e17f918578ee374e", "filename": "files/20161103_R41146_df57db698c872b0118141483e17f918578ee374e.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 456533, "date": "2016-10-13", "retrieved": "2016-10-24T14:51:38.804374", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2016, the SBA approved 64,073 7(a) loans totaling more than $24.1 billion. The average approved 7(a) loan amount was $376,537. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some, including President Obama, argue that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress that provided more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raised the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and established an alternative size standard for the 7(a) and 504/CDC loan programs. \nThe Obama Administration waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty for 7(a) loans of $150,000 or less approved in FY2017; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $5 million in FY2015 and FY2016; and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans of $150,001 to $500,000 in FY2017.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "0fc9ab864c449a81b952c6a9a49f292025ebfec5", "filename": "files/20161013_R41146_0fc9ab864c449a81b952c6a9a49f292025ebfec5.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "4e808d2d60e3a691d7f8f7915b8b884d7f075e90", "filename": "files/20161013_R41146_4e808d2d60e3a691d7f8f7915b8b884d7f075e90.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 453626, "date": "2016-06-23", "retrieved": "2016-09-09T19:19:33.437743", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2015, the SBA approved 63,461 7(a) loans totaling nearly $23.6 billion. The average approved 7(a) loan amount was $371,628. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some, including President Obama, argue that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress that provided more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raised the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and established an alternative size standard for the 7(a) and 504/CDC loan programs. \nThe Obama Administration has waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans exceeding $150,000 in FY2015 and FY2016.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "351b062bc4eb667b184e72f8d6a039dbc84fc7d1", "filename": "files/20160623_R41146_351b062bc4eb667b184e72f8d6a039dbc84fc7d1.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41146", "sha1": "94efdf54a04b610ab6a4d8c0f81549ec45229d81", "filename": "files/20160623_R41146_94efdf54a04b610ab6a4d8c0f81549ec45229d81.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "EveryCRSReport.com", "id": 449896, "date": "2016-02-18", "retrieved": "2016-04-06T17:07:58.084665", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": "The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs designed to encourage lenders to provide loans to small businesses \u201cthat might not otherwise obtain financing on reasonable terms and conditions.\u201d The SBA\u2019s 7(a) loan guaranty program is considered the agency\u2019s flagship loan program. Its name is derived from Section 7(a) of the Small Business Act of 1953 (P.L. 83-163, as amended), which authorizes the SBA to provide business loans and loan guaranties to American small businesses.\nIn FY2015, the SBA approved 63,461 7(a) loans totaling nearly $23.6 billion. The average approved 7(a) loan amount was $371,628. Proceeds from 7(a) loans may be used to establish a new business or to assist in the operation, acquisition, or expansion of an existing business.\nCongressional interest in the 7(a) program has increased in recent years because of concerns that small businesses might be prevented from accessing sufficient capital to enable them to assist in the economic recovery. Some, including President Obama, argue that the SBA should be provided additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations with the expectation that in so doing small businesses will create jobs. Others worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They advocate business tax reduction, financial credit market reforms, and fiscal restraint as the best means to help small businesses further economic growth and job creation.\nThis report discusses the rationale provided for the 7(a) program; the program\u2019s borrower and lender eligibility standards and program requirements; and program statistics, including loan volume, loss rates, use of proceeds, borrower satisfaction, and borrower demographics. It also examines issues raised concerning the SBA\u2019s administration of the 7(a) program, including the oversight of 7(a) lenders and the program\u2019s lack of outcome-based performance measures.\nThe report also surveys congressional and presidential actions taken in recent years to enhance small businesses\u2019 access to capital. For example, \nCongress approved legislation during the 111th Congress that provided more than $1.1 billion to temporarily subsidize the 7(a) and 504/Certified Development Companies (504/CDC) loan guaranty programs\u2019 fees and temporarily increase the 7(a) program\u2019s maximum loan guaranty percentage to 90% (funding was exhausted on January 3, 2011); raised the 7(a) program\u2019s gross loan limit from $2 million to $5 million; and established an alternative size standard for the 7(a) and 504/CDC loan programs. \nThe Obama Administration has waived the up-front, one-time loan guaranty fee and ongoing servicing fee for 7(a) loans of $150,000 or less approved in FY2014, FY2015, and FY2016; the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program (up to $350,000) from January 1, 2014, through the end of FY2015 (called the Veterans Advantage Program); and 50% of the up-front, one-time loan guaranty fee on all non-SBAExpress 7(a) loans to veterans exceeding $150,000 in FY2015 and FY2016.\nP.L. 114-38, the Veterans Entrepreneurship Act of 2015, provided statutory authorization and made permanent the up-front, one-time loan guaranty fee for veteran loans under the SBAExpress program and increased the 7(a) program\u2019s FY2015 authorization limit to $23.5 billion from $18.75 billion.\nP.L. 114-113, the Consolidated Appropriations Act, 2016, increased the 7(a) program\u2019s authorization limit to $26.5 billion for FY2016 from $23.5 billion in FY2015.\nThe Appendix to this report provides a brief description of the 7(a) program\u2019s SBAExpress, Export Express, and Community Advantage programs.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41146", "sha1": "26bc203a61caac659bc4c9dcc33f3c54e0451338", "filename": "files/20160218_R41146_26bc203a61caac659bc4c9dcc33f3c54e0451338.html", "images": null }, { "format": "PDF", "encoding": 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Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc812694/", "id": "R41146_2015Feb12", "date": "2015-02-12", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150212_R41146_f989ba541b1a4ebbd89eefee3ec8d40f2abad8cc.pdf" }, { "format": "HTML", "filename": "files/20150212_R41146_f989ba541b1a4ebbd89eefee3ec8d40f2abad8cc.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc822068/", "id": "R41146_2013May01", "date": "2013-05-01", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": 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"R41146_2010Jul08", "date": "2010-07-08", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration 7(a) Loan Guaranty Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100708_R41146_7cc541b9acb044484eb5cceb64036f8f408c32ce.pdf" }, { "format": "HTML", "filename": "files/20100708_R41146_7cc541b9acb044484eb5cceb64036f8f408c32ce.html" } ], "topics": [] } ], "topics": [ "American Law", "Economic Policy", "National Defense" ] }