,,ii #aad? ,,congress #a/ ,session ,s4 #aedf ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #aj1 #bjae ,mr4 ,vitt] introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,small ,bus9ess & ,entrepr5eur%ip ,a ,,bill ,to e/abli% an export cr$it insurance program 9 ! ,small ,bus9ess ,adm9i/ration4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,ensur+ ,small ,bus9esses ,c ,export ,act ( #bjae4 #b4 ,f9d+s 7a7 ,9 g5]al ,congress f9ds t-- 7#a7 ! ,export-,import ,bank ( ! ,unit$ ,/ates adm9i/]s-- 7,a7 ! ,work+ ,capital ,loan ,gu>antee ,program1 :i*-- 7i7 facilitates f9ance = bus9esses1 9 p>ticul> small bus9esses1 t h export+ pot5tial b ne$ work+ capital funds to produce or m>ket goods or s]vices = export2 7ii7 provides repaym5t gu>antees to l5d]s on %ort- & m$ium-t]m work+ capital loans made to qualifi$ export]s1 :i* loans are secur$ by export-relat$ acc\nts receivable & inv5tory2 7iii7 provides a gu>antee ( up to #ij p]c5t ( ! pr9cipal & int]e/ on a loan made to an export] by a private l5d] = export-relat$ acc\nts receivable2 & 7iv7 provides a gu>antee ( up to #ge p]c5t = export-relat$ inv5tory2 7,b7 ! ,global ,cr$it ,express ,loan ,program1 :i* provides direct work+ capital loans to small bus9esses = a #f- or #ab-mon? revolv+ l9e ( cr$it ( n m ?an #ejj1jjj2 & 7,c7 ! ,export ,cr$it ,insurance ,program1 :i*-- 7i7 ext5ds cr$it t]ms to =eign cu/om]s2 7ii7 insures aga9/ nonpaym5t by int]national buy]s2 7iii7 cov]s bo? comm]cial & political losses ) a #ie-p]c5t gu>antee2 & 7iv7 arranges f9anc+ ?r\gh a l5d] by us+ insur$ receivables z additional collat]al2 7#b7 ! export loan programs ( ! ,export-,import ,bank ( ! ,unit$ ,/ates describ$ 9 subp>agraphs 7,a71 7,b71 & 7,c7 ( p>agraph 7#a7 are less appeal+ to small bus9esses due to l5d+ re/rictions on loans "u ^? programs1 :i* provide t-- 7,a7 ! loans may n be us$ :5 ! export product be+ f9anc$ has less ?an #ej-p]c5t ,unit$ ,/ates cont5t2 7,b7 ! loans may n be us$ to f9ance sales to =eign milit>y buy]s1 ) :i* a gr[+ numb] ( small bus9esses are contract+2 & 7,c7 contracts & pur*ase ord]s support$ by lett]s ( cr$it may n be us$ 9 det]m9+ ! borr[+ base2 & 7#c7 ! ,small ,bus9ess ,adm9i/ration adm9i/]s-- 7,a7 ! ,export ,work+ ,capital ,program1 e/abli%$ "u section #g7;a77#ad7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#ad771 :i* provides %ort-t]m work+ capital1 includ+ revolv+ l9es ( cr$it1 ( n m ?an #e1jjj1jjj ) a #ij-p]c5t gu>antee2 7,b7 ! ,int]national ,trade ,loan ,program1 e/abli%$ "u section #g7;a77#af7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#af771 :i* provides f9anc+ ( n m ?an #e1jjj1jjj ) a #ij-p]c5t gu>antee = fix$ assets1 or to improve a competitive position t has be5 adv]sely affect$ by import competition2 & 7,c7 ! ,export ,express ,program1 e/abli%$ "u #g7;a77#cd7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77#cd771 "u :i*-- 7i7 export]s are provid$ ) a /reaml9$ me?od to obta9 f9anc+ back$ by ! ,small ,bus9ess ,adm9i/ration = loans & l9es ( cr$it ( n m ?an #ejj1jjj2 7ii7 l5d]s use _! own cr$it decision process & loan docum5tation2 7iii7 ! ,small ,bus9ess ,adm9i/ration det]m9es eligibility & provides a loan approval 9 #cf h\rs or less2 & 7iv7 ! gu>antee is #ij p]c5t = a loan t is n m ?an #cej1jjj & #ge p]c5t = a loan t is m ?an #cej1jjj & n m ?an #ejj1jjj4 7b7 ,additional f9d+s ,congress fur!r f9ds t-- 7#a7 ! export loan programs ( ! ,small ,bus9ess ,adm9i/ration describ$ 9 subp>agraphs 7,a71 7,b71 & 7,c7 ( subsection 7a77#c7-- 7,a7 are n re/rict$ by ! limitations describ$ 9 subp>agraphs 7,a71 7,b71 & 7,c7 ( subsection 7a77#b72 & 7,b7 %\ld be comm5d$ = _! flexibility1 quick turn>\nd times1 & ! "o-on-"o assi/ance f ,small ,bus9ess ,adm9i/ration p]sonnel 9 /ructur+ loan deals1 negotiat+ paym5t t]ms1 & ensur+ t ! f9ancial ne$s ( small bus9esses are met2 7#b7 ! ,export-,import ,bank ( ! ,unit$ ,/ates only has ,regional ,export ,f9ance ,manag]s co-locat$ 9 #ab ,dep>tm5t ( ,comm]ce ,unit$ ,/ates ,export ,assi/ance ,c5t]s1 :]eas ! ,small ,bus9ess ,adm9i/ration-- 7,a7 has ,regional ,export ,f9ance ,manag]s co-locat$ 9 #bj ,unit$ ,/ates ,export ,assi/ance ,c5t]s2 & 7,b7 curr5tly has ,regional ,export ,f9ance ,manag]s co-locat$ 9 #aj additional ,unit$ ,/ates ,export ,assi/ance ,c5t] locations t ! ,export-,import ,bank ( ! ,unit$ ,/ates does n1 includ+ 9-- 7i7 ,arl+ton1 ,virg9ia2 7ii7 ,bo/on1 ,massa*usetts2 7iii7 ,*>lotte1 ,nor? ,c>ol9a2 7iv7 ,clevel&1 ,ohio2 7v7 ,d5v]1 ,colorado2 7vi7 ,los ,angeles1 ,cali=nia2 7vii7 ,new ,orleans1 ,l\isiana2 7viii7 ,philadelphia1 ,p5nsylvania2 7ix7 ,portl&1 ,oregon2 & 7x7 ,/4 ,l\is1 ,miss\ri2 7#c7 ! ,small ,bus9ess ,jobs ,act ( #bjaj 7#ae ,u4,s4,c4 #fca note7 increas$ ! maximum loan size "u ! #b l>ge/ export loan programs adm9i/]$ by ! ,small ,bus9ess ,adm9i/ration to #e1jjj1jjj1 :i* c\ld cov] approximately #hj p]c5t ( all small bus9ess export loans curr5tly gu>ante$ by taxpay]s ?r\gh ! ,export-,import ,bank ( ! ,unit$ ,/ates2 7#d7 ! export loan programs adm9i/]$ by ! ,small ,bus9ess ,adm9i/ration & ! export loan programs adm9i/]$ ! ,export-,import ,bank ( ! ,unit$ ,/ates are-- 7,a7 duplicative ( ea* o!r1 except = ! ,export ,cr$it ,insurance ,program ( ! ,export-,import ,bank ( ! ,unit$ ,/ates2 & 7,b7 "u ! curr5t /ructure1 compet+ aga9/ ea* o!r = small bus9ess cli5ts2 & 7#e7 ! ,export ,cr$it ,insurance ,program ( ! ,export-,import ,bank ( ! ,unit$ ,/ates is a vital compon5t ( export loan programs4 7c7 ,decl>ation ( policy ,x is h]eby decl>$ to be ! policy ( ?is ,act-- 7#a7 t1 %\ld ! /atutory au?ority = ! export loan programs adm9i/]$ by ! ,export-,import ,bank ( ! ,unit$ ,/ates lapse1 ! ,small ,bus9ess ,adm9i/ration %all s]ve ! small bus9ess cli5ts ( ! ,export-,import ,bank ( ! ,unit$ ,/ates "u exi/+ /atutory au?ority ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca et seq472 7#b7 to create an ,export ,cr$it ,insurance ,program )9 ! ,small ,bus9ess ,adm9i/ration simil> to ! ,export ,cr$it ,insurance ,program ( ! ,export-,import ,bank ( ! ,unit$ ,/ates2 & 7#c7 to ensure t small bus9ess export]s are s]v$ by ! programs ( ! ,small ,bus9ess ,adm9i/ration4 #c4 ,export cr$it insurance program ,section #bb ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fdi7 is am5d$-- 7#a7 by r$esignat+ subsection 7l7 z subsection 7m72 & 7#b7 by ins]t+ aft] subsection 7k7 ! foll[+3 7l7 ,export cr$it insurance program 7#a7 ,9 g5]al ,! ,adm9i/rator %all e/abli% a program "u :i* ! ,adm9i/ration %all provide insurance = ! exports ( small bus9ess conc]ns1 includ+ insurance aga9/ nonpaym5t by int]national buy]s4 7#b7 ,regulations ,n lat] ?an #ij days aft] ! date ( enactm5t ( ?is subsection1 ! ,adm9i/rator %all promulgate regulations to c>ry out ! program e/abli%$ "u p>agraph 7#a71 :i* %all be1 to ! maximum ext5t practicable1 sub/antially simil> to ! ,export ,cr$it ,insurance ,program ( ! ,export-,import ,bank ( ! ,unit$ ,/ates1 z 9 effect on ! day be=e ! date ( enactm5t ( ?is subsection4 4