Proposal To Adopt the 2010 Small Business Jobs Act Interim Rule as an Alternative Size Standard for Defining a Small Business for Export-Import Bank Programs

Resumo

This document announces that the U.S. Small Business Administration (SBA) has approved the request by the Export-Import Bank of the United States (EXIM Bank) to adopt the Interim Rule (as defined below) set forth in Section 1116 of the Small Business Jobs Act of 2010 (the Jobs Act) as an alternative size standard for defining a small business concern for all of EXIM Bank's programs. The Jobs Act mandated that until the SBA establishes a permanent tangible net worth and net income based alternative size standard, SBA shall use the following alternative size standard for applicants for business loans Section 7(a) of the Small Business Act (7(a) Loan Program) and applicants for development company loans under Title V of the Small Business Investment Act of 1958 (504 Loan Program) in addition to the use of industry based size standards: Not more than $15 million in tangible net worth and not more than $5 million in average net income after Federal income taxes (Interim Rule). The SBA currently uses the Interim Rule for its 7(a) and 504 Loan Programs to determine size eligibility for an applicant if such applicant does not meet the size standards that it has established for individual i