SMALL BUSINESS ADMINISTRATION SMALL BUSINESS ADMINISTRATION Small Business Administration Disaster Loan Program, Downward Reestimates of Subsidies Business Loan Program, Negative Subsidies Business Loan Program, Downward Reestimates of Subsidies Undistributed Intragovernmental Payments and Receivables from Cancelled Accounts All Other General Fund Proprietary Receipts Including Budget Clearing Accounts Deltas between the Annualized CR Amounts and the FY 2011 Budget Request Adjustment to reach the 2011 Budget For necessary expenses, not otherwise provided for, of the Small Business Administration as authorized by Public Law 108–447, including hire of passenger motor vehicles as authorized by 31 U.S.C. 1343 and 1344, and not to exceed $3,500 for official reception and representation expenses, $444,269,000$427,296,000: Provided, That the Administrator is authorized to charge fees to cover the cost of publications developed by the Small Business Administration, and certain loan program activities, including fees authorized by section 5(b) of the Small Business Act: Provided further, That, notwithstanding 31 U.S.C. 3302, revenues received from all such activities shall be credited to this account, to remain available until expended, for carrying out these purposes without further appropriations: Provided further, That $113,000,000$103,000,000 shall be available to fund grants for performance in fiscal year 20112012 or fiscal year 20122013 as authorized by section 21 of the Small Business Act, of which $1,000,000 shall be for the Veterans Assistance and Services Program authorized by section 21(n) of the Small Business Act, and of which $1,000,000 shall be for the Small Business Energy Efficiency Program authorized by section 1203(c) of Public Law 110–140: Provided further, That $10,000,000 shall remain available until September 30, 20122013 for marketing, management, and technical assistance under section 7(m) of the Small Business Act (15 U.S.C. 636(m)(4)) by intermediaries that make microloans under the microloan program: Provided further, That $18,347,700$7,100,000 shall be available for the Loan Modernization and Accounting System, to be available until September 30, 20122013: Provided further, That notwithstanding the provisions of section 7(e) of the Small Business Act, the Administration may provide financial assistance in the form of grants or cooperative agreements to educational institutions, nonprofit organizations, Federal, State, and local departments and agencies (including Small Business Development Centers operating pursuant to section 21 of the Small Business Act, Women's Business Centers operating pursuant to section 29 of the Small Business Act, and SCORE chapters operating pursuant to section 8(b)(1)(B) of the Small Business Act) for the purpose of providing management or technical assistance and other services to small businesses: Provided further, That of the funds made available under this heading, $1,767,090 is for strengthening the agency's acquisition workforce capacity and capabilities: Provided further, That with respect to the previous proviso, such funds shall be available for training, recruitment, retention, and hiring members of the acquisition workforce as defined by the Office of Federal Procurement Policy Act, as amended (41 U.S.C. 401 et seq.): Provided further, That with respect to the seventh proviso, such funds shall be available for information technology in support of acquisition workforce effectiveness or for management solutions to improve acquisition management. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.This account funds the administrative expenses of SBA headquarters and field office operations. Appropriations for the administration of the disaster and business loan programs are merged with this account. The 2012 Budget provides funding for the continued development of a revised loan management accounting system, which will improve oversight of SBA's more than $93 billion portfolio of loans and loan guarantees. Funding is also requested for core agency activities, including information technology investments and human capital development. In addition, this account funds non-credit business assistance grant programs. The 2012 Budget includes funds for SBA's regional clusters initiative and expands the Emerging Leaders program (formerly known as E200). On September 27, 2010, the Small Business Jobs Act of 2010 (Jobs Act) (P.L. 111–240) was enacted. The Jobs Act, among other things: (1) provided funding for additional grants to Small Business Development Centers (SBDCs) for technical assistance and counseling services to small businesses; (2) provided administrative funds for staff and resources for developing, implementing and maintaining the SBDC Grant Program; and (3) established an export promotion pilot program through which SBA will make competitive grants to States in order to carry out export programs that assist small businesses to begin or expand exporting.Program and Financing(in millions of dollars)Identification code 73–0100–0–1–3762010 actualCR2012 est.
Obligations by program activity:
0001Executive direction808677
0002Capital Access94101101
0003Gov. Contracting/ Bus. Development293236
0004Entrepreneurial Development91818
0005Management & Adminstration263030
0006Office of Chief Information Officer445051
0007Regional & district offices106108108
0008Agency wide costs455459
0009Non credit programs224265160
0010Congressional initiaives5659
0012Disaster196100167
0900Total new obligations909903807
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 122622063
1021Recoveries of prior year unpaid obligations12
1050Unobligated balance (total)23822063
Budget authority:
Appropriations, discretionary:
1100Appropriation642492427
Spending authority from offsetting collections, discretionary:
1700Collected9877167
1700Collected153177163
1750Spending auth from offsetting collections, disc (total)251254330
1900Budget authority (total)893746757
1930Total budgetary resources available1,131966820
Memorandum (non-add) entries:
1940Unobligated balance expiring–2
1941Unexpired unobligated balance, end of year2206313
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)371439519
3030Obligations incurred, unexpired accounts909903807
3031Obligations incurred, expired accounts10
3040Outlays (gross)–827–823–849
3080Recoveries of prior year unpaid obligations, unexpired–12
3081Recoveries of prior year unpaid obligations, expired–12
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)439519477
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross893746757
Outlays, gross:
4010Outlays from new discretionary authority558525565
4011Outlays from discretionary balances269298284
4020Outlays, gross (total)827823849
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030Federal sources–239–242–316
4033Non-Federal sources–15–12–14
4040Offsets against gross budget authority and outlays (total)–254–254–330
Additional offsets against gross budget authority only:
4052Offsetting collections credited to expired accounts3
4070Budget authority, net (discretionary)642492427
4080Outlays, net (discretionary)573569519
4180Budget authority, net (total)642492427
4190Outlays, net (total)573569519
Object Classification(in millions of dollars)Identification code 73–0100–0–1–3762010 actualCR2012 est.
Direct obligations:
Personnel compensation:
11.1Full-time permanent201216201
11.3Other than full-time permanent101010
11.5Other personnel compensation944
11.9Total personnel compensation220230215
12.1Civilian personnel benefits556157
21.0Travel and transportation of persons677
23.1Rental payments to GSA333840
23.3Communications, utilities, and miscellaneous charges999
24.0Printing and reproduction156
25.2Other services from non-federal sources130118133
25.3Other purchases of goods and services from Government accounts (Disaster Administrative Expenses)196100167
26.0Supplies and materials356
31.0Equipment756
41.0Grants, subsidies, and contributions249324160
99.0Direct obligations909902806
99.0Reimbursable obligations11
99.9Total new obligations909903807
Employment SummaryIdentification code 73–0100–0–1–3762010 actualCR2012 est.
1001Direct civilian full-time equivalent employment3,3303,3803,202
Office of Inspector General Office of Inspector GeneralFor necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, $18,000,000$18,400,000. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.The 2012 Budget proposes $18.4 million in new budget authority and $1.0 million transferred from the Disaster Loans Program account for a total of $19.4 million for the Office of Inspector General (OIG). This appropriation provides funds for agency-wide audit, investigative, and related functions to promote economy and efficiency in SBA operations and to prevent and detect waste, fraud, and abuse. In addition, the passage of the American Recovery and Reinvestment Act of 2009 provided an additional $10 million, available from 2009 through 2013, for oversight and audit of SBA Recovery Act programs, grants, and projects.Program and Financing(in millions of dollars)Identification code 73–0200–0–1–3762010 actualCR2012 est.
Obligations by program activity:
0001Audit101010
0002Investigations9910
0003Management policy111
0004General Office/Legal Counsel111
0900Total new obligations212122
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 115117
Budget authority:
Appropriations, discretionary:
1100Appropriation161618
Spending authority from offsetting collections, discretionary:
1700Collected111
1900Budget authority (total)171719
1930Total budgetary resources available322826
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year1174
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)333
3030Obligations incurred, unexpired accounts212122
3040Outlays (gross)–21–21–22
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)333
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross171719
Outlays, gross:
4010Outlays from new discretionary authority161517
4011Outlays from discretionary balances565
4020Outlays, gross (total)212122
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030Federal sources–1–1–1
4070Budget authority, net (discretionary)161618
4080Outlays, net (discretionary)202021
4180Budget authority, net (total)161618
4190Outlays, net (total)202021
Object Classification(in millions of dollars)Identification code 73–0200–0–1–3762010 actualCR2012 est.
Direct obligations:
Personnel compensation:
11.1Full-time permanent111112
11.5Other personnel compensation111
11.9Total personnel compensation121213
12.1Civilian personnel benefits444
25.2Other services444
99.0Direct obligations202021
99.0Reimbursable obligations111
99.9Total new obligations212122
Employment SummaryIdentification code 73–0200–0–1–3762010 actualCR2012 est.
1001Direct civilian full-time equivalent employment110119120
For necessary expenses of the Office of Advocacy in carrying out the provisions of Title II of Public Law 94–305, as amended, (15 U.S.C. 634a et seq.) and the Regulatory Flexibility Act of 1980, as amended, (5 U.S.C. 601 et seq.), $9,120,000, to remain available until expended. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.The 2012 Budget proposes $9,120,000 in new budget authority. This appropriation provides funds for operations of the Office of Advocacy, in accordance with the Small Business Jobs Act of 2010 (P.L. 111–240). Pursuant to Section 1602 of the Jobs Act, SBA is requesting that the funds remain available, without fiscal year limitation, until expended.The Office of Advocacy's advice and small business research helps the Federal Government take into account the concerns of small businesses when it develops policies and regulations. The Office's regional advocates support regulatory flexibility at the State level, work with the regional Regulatory Fairness Boards established by the Small Business Regulatory Enforcement Fairness Act, and promote the use of Advocacy research and data products in the curricula of universities and other schools in their respective regions. Program and Financing(in millions of dollars)Identification code 73–0300–0–1–3762010 actualCR2012 est.
Obligations by program activity:
0001Direct program activity9
Budgetary Resources:
Budget authority:
Appropriations, discretionary:
1100Appropriation9
1930Total budgetary resources available9
Change in obligated balance:
3030Obligations incurred, unexpired accounts9
3040Outlays (gross)–9
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross9
Outlays, gross:
4010Outlays from new discretionary authority9
4180Budget authority, net (total)9
4190Outlays, net (total)9
Object Classification(in millions of dollars)Identification code 73–0300–0–1–3762010 actualCR2012 est.
Direct obligations:
11.1Personnel compensation: Full-time permanent5
12.1Civilian personnel benefits2
25.2Other services from non-federal sources2
99.9Total new obligations9
Employment SummaryIdentification code 73–0300–0–1–3762010 actualCR2012 est.
1001Direct civilian full-time equivalent employment46
Surety Bond Guarantees Revolving Fund Surety Bond Guarantees Revolving FundFor additional capital for the Surety Bond Guarantees Revolving Fund, authorized by the Small Business Investment Act of 1958, as amended, $1,000,000, to remain available until expended. SBA is authorized to issue bond guarantees to surety companies for construction, service, and supply contracts or work orders, and to reimburse these sureties up to 90 percent of the losses sustained if the contractor defaults. SBA's guarantees provide an incentive for sureties to issue bonds to small contractors who could not otherwise secure them and compete in the contracting industry. For 2012, it is estimated that there are sufficient funds in reserve to cover the cost of claim defaults. Therefore, no new appropriated funds are requested.Program and Financing(in millions of dollars)Identification code 73–4156–0–3–3762010 actualCR2012 est.
Obligations by program activity:
0801Reimbursable obligations566
0900Total new obligations (object class 42.0)566
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 1495555
Budget authority:
Appropriations, discretionary:
1100Appropriation11
Spending authority from offsetting collections, discretionary:
1700Collected1056
1900Budget authority (total)1166
1930Total budgetary resources available606161
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year555555
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)11
3030Obligations incurred, unexpired accounts566
3040Outlays (gross)–4–6–6
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)111
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross1166
Outlays, gross:
4010Outlays from new discretionary authority466
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033Non-Federal sources–10–5–6
4070Budget authority, net (discretionary)11
4080Outlays, net (discretionary)–61
4180Budget authority, net (total)11
4190Outlays, net (total)–61
Balance Sheet(in millions of dollars)Identification code 73–4156–0–3–3762009 actual2010 actual
ASSETS:
Federal assets:
1101Fund balances with Treasury4956
Investments in US securities:
1106Receivables, net11
1999Total assets5057
LIABILITIES:
2201Non-Federal liabilities: Accounts payable2120
2999Total liabilities2120
NET POSITION:
3300Cumulative results of operations2937
3999Total net position2937
4999Total liabilities and net position5057
Business Loans Program Account Business Loans Program Account(including transfer of funds)For the cost of direct loans, $3,765,000, to remain available until expended, and for the cost of guaranteed loans as authorized by section 7(a) of the Small Business Act (Public Law 85–536, as amended) and section 503 of the Small Business Investment Act of 1958 (Public Law 85–699, as amended), $165,386,000$211,600,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That subject to section 502 of the Congressional Budget Act of 1974, during fiscal year 20112012 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958 shall not exceed $7,500,000,000: Provided further, That during fiscal year 20102012 commitments for general business loans authorized under section 7(a) of the Small Business Act shall not exceed $17,500,000,000$16,500,000,000 for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans: Provided further, That during fiscal year 20112012 commitments to guarantee loans for debentures under section 303(b) of the Small Business Investment Act of 1958, shall not exceed $3,000,000,000: Provided further, That during fiscal year 20112012, guarantees of trust certificates authorized by section 5(g) of the Small Business Act shall not exceed a principal amount of $12,000,000,000. In addition, for administrative expenses to carry out the direct and guaranteed loan programs, $157,000,000$147,958,000, which may be paid to the appropriations for Salaries and Expenses. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.As required by the Federal Credit Reform Act of 1990, as amended, this account records the subsidy costs associated with the direct loans obligated and loan guarantees committed in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of the business loan program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis. For 2012, the Budget proposes $363 million in new budget authority for the Business Loans Program account. This includes $148 million in administrative expenses funding, $212 million in credit subsidy for the Sections 7(a) and 504 guaranteed loan programs, and $3.8 million in credit subsidy for the direct Microloan Program. The Section 7(a) Program provides general business credit assistance. The 2012 Budget includes a new accounting treatment for 7(a) revolving lines of credit that is being implemented in 2011. Previously, SBA's modeling and budget presentations treated all 7(a) loans as term loans, when in fact a significant portion of approvals (roughly $1–2 billion) consisted of revolving lines of credit, under which a borrower was able to draw and repay multiple times during the loan term. In order to be consistent with Federal Credit Reform requirements and better reflect the total economic activity supported by the guarantee, the total 7(a) program levels are to reflect the full revolving lines of credit disbursement and repayment activity. Therefore, the Budget supports $14.5 billion in 7(a) term loans and $2 billion for 7(a) revolving lines of credit, which are estimated to support $48 billion in total economic activity through draws and repayments over the life of the guarantee. Based on the maximum draw activity at any one time, the base approval amounts are consistent with the authorized program level of $16.5 billion. For budget execution purposes, the 7(a) program will have separate risk categories and subsidy rates for term and revolving loans. In addition, as part of the Secondary Market Guarantee (SMG) Program, SBA's fiscal agent pools the guaranteed portion of 7(a) loans and sells the securities to investors. This mechanism provides liquidity to lenders participating in the 7(a) loan program. For 2012, the Budget proposes a program level of $12 billion in such securities.The Section 504 Certified Development Company program is for long-term, fixed-rate financing, and the requested guaranteed loan program level is $7.5 billion in 2012. The Small Business Investment Company (SBIC) program provides credit to support venture capital investments. The Budget proposes a program level of $3 billion for SBIC Debentures and a $25 million program level for direct Microloans. A number of legislative proposals (Section 522 through 524 of the SBA Administrative Provisions) to improve small business access to credit were proposed in the 2011 Budget. As most of these provisions were enacted with the passage of the Small Business Act of 2010 (Jobs Bill), P.L. 111–240, SBA has deleted these provisions from the 2012 request. The subsidy rates presented in the Budget and Federal Credit Supplement for the 7(a), 504, and Microloan programs are based on enactment of these provisions.Due to the economic crisis and significantly higher default claims, SBA recorded a $3.7 billion upward reestimate in its loan guarantee programs, the highest in the Agency's history since the implementation of credit reform in 1992. This additional subsidy cost is covered by appropriations and increases the Federal Budget deficit in 2011. Further, projected economic conditions and higher than anticipated defaults have doubled the estimated cost of new 7(a) loan guarantees for 2012 compared to 2010. Therefore, the Administration will submit a legislative package to provide SBA the flexibility to adjust fees in the 7(a) program to enable it to be self-sustaining over time. These changes in the program's fee structure would become effective for loans originated after 2012. In addition to increasing the maximum loan size for standard 7(a) loans as discussed above, the Jobs Act: (1) established an Intermediary Lending Pilot Program and subsidy for this program was appropriated over two years with $8 million authorized for use in each of 2011 and 2012; (2) provided staff and resources for implementing and overseeing the Intermediary Lending Pilot Program; (3) provided subsidy funding for the cost of modifying the 7(a) loan program; and (4) extended Recovery Act fee reductions and increased guarantees through December 31, 2010, and appropriated funding of $505 million to pay for the subsidy amount necessary for fee reductions and increased guarantees.Program and Financing(in millions of dollars)Identification code 73–1154–0–1–3762010 actualCR2012 est.
Obligations by program activity:
Credit program obligations:
0701Direct loan subsidy599
0702Loan guarantee subsidy587404250
0705Reestimates of direct loan subsidy54
0706Interest on reestimates of direct loan subsidy24
0707Reestimates of loan guarantee subsidy3,7793,803
0708Interest on reestimates of loan guarantee subsidy740835
0709Administrative expenses153165148
0715Other5
0900Total new obligations5,2765,224407
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 1329587246
1021Recoveries of prior year unpaid obligations171
1050Unobligated balance (total)346588246
Budget authority:
Appropriations, discretionary:
1100Appropriation1,049236363
Appropriations, mandatory:
1200Appropriation4,5264,646
1900Budget authority (total)5,5754,882363
1930Total budgetary resources available5,9215,470609
Memorandum (non-add) entries:
1940Unobligated balance expiring–58
1941Unexpired unobligated balance, end of year587246202
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)204205230
3030Obligations incurred, unexpired accounts5,2765,224407
3040Outlays (gross)–5,258–5,198–357
3080Recoveries of prior year unpaid obligations, unexpired–17–1
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)205230280
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross1,049236363
Outlays, gross:
4010Outlays from new discretionary authority356224345
4011Outlays from discretionary balances37632812
4020Outlays, gross (total)732552357
Mandatory:
4090Budget authority, gross4,5264,646
Outlays, gross:
4100Outlays from new mandatory authority4,5264,646
4180Budget authority, net (total)5,5754,882363
4190Outlays, net (total)5,2585,198357
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program(in millions of dollars)Identification code 73–1154–0–1–3762010 actualCR2012 est.
Direct loan levels supportable by subsidy budget authority:
1150017(m) Direct Microloans382525
115009Section 509 Secondary Market 7(a) Broker/Dealer Loans—ARRA667
115011Intermediary Lending Program2020
115999Total direct loan levels3871245
Direct loan subsidy (in percent):
1320017(m) Direct Microloans12.0415.0614.71
132009Section 509 Secondary Market 7(a) Broker/Dealer Loans—ARRA0.00–0.190.00
132011Intermediary Lending Program0.0030.5825.73
132999Weighted average subsidy rate12.041.2119.61
Direct loan subsidy budget authority:
1330017(m) Direct Microloans544
133009Section 509 Secondary Market 7(a) Broker/Dealer Loans—ARRA–1
133011Intermediary Lending Program65
133999Total subsidy budget authority599
Direct loan subsidy outlays:
1340017(m) Direct Microloans266
134009Section 509 Secondary Market 7(a) Broker/Dealer Loans—ARRA–2
134011Intermediary Lending Program34
134999Total subsidy outlays2710
Direct loan upward reestimates:
1350017(m) Direct Microloans54
135007SBIC Direct Preferred Stock and Fee Loans23
1350107(m) Direct Microloans — ARRA1
135999Total upward reestimate budget authority78
Direct loan downward reestimates:
1370017(m) Direct Microloans–2–3
137007SBIC Direct Preferred Stock and Fee Loans–3
137999Total downward reestimate budget authority–5–3
Guaranteed loan levels supportable by subsidy budget authority:
2150027(a) General Business Loan Guarantees2,21111,10214,493
215004Section 504 Certified Development Companies Debentures8665,6257,500
215006SBIC Debentures1,1653,0003,000
215010Secondary Market Guarantee3,37912,00012,000
215015Secondary Market 504 First Mortgage Guarantees-ARRA324292,571
215016ARC Loan Guarantees—ARRA184
2150177(a) General Business Loan Guarantees—ARRA8,6583,693
215018Section 504 Certified Development Companies—ARRA3,4461,875
2150207(a) Dealer Floor Plan15,41015,336
2150217(a) Dealer Floor Plan—ARRA745,136
2150247(a) Revolvers37,45632,722
215027504 Commercial Real Estate (CRE) Refinance Program7,5007,500
2150297(a) Revolvers—ARRA12,673
215999Total loan guarantee levels20,015115,89995,122
Guaranteed loan subsidy (in percent):
2320027(a) General Business Loan Guarantees0.460.750.87
232004Section 504 Certified Development Companies Debentures0.000.001.09
232006SBIC Debentures0.000.000.00
232010Secondary Market Guarantee0.000.000.00
232015Secondary Market 504 First Mortgage Guarantees-ARRA0.000.000.00
232016ARC Loan Guarantees—ARRA76.150.000.00
2320177(a) General Business Loan Guarantees—ARRA4.235.680.00
232018Section 504 Certified Development Companies—ARRA2.052.180.00
2320207(a) Dealer Floor Plan0.040.020.02
2320217(a) Dealer Floor Plan—ARRA0.210.120.00
2320247(a) Revolvers0.000.110.12
232027504 Commercial Real Estate (CRE) Refinance Program0.000.000.00
2320297(a) Revolvers—ARRA0.000.160.00
232999Weighted average subsidy rate2.930.350.26
Guaranteed loan subsidy budget authority:
2330027(a) General Business Loan Guarantees1083126
233004Section 504 Certified Development Companies Debentures82
233016ARC Loan Guarantees—ARRA140
2330177(a) General Business Loan Guarantees—ARRA366210
233018Section 504 Certified Development Companies—ARRA7141
2330207(a) Dealer Floor Plan33
2330217(a) Dealer Floor Plan—ARRA6
2330247(a) Revolvers4139
2330297(a) Revolvers—ARRA20
233999Total subsidy budget authority587404250
Guaranteed loan subsidy outlays:
2340027(a) General Business Loan Guarantees56767
234016ARC Loan Guarantees—ARRA163
2340177(a) General Business Loan Guarantees—ARRA34090
234018Section 504 Certified Development Companies—ARRA6517
2340217(a) Dealer Floor Plan—ARRA2
2340247(a) Revolvers2626
234999Total subsidy outlays57520093
Guaranteed loan upward reestimates:
2350027(a) General Business Loan Guarantees1,9051,800
2350037(a) General Business Loan Guarantees—STAR1723
235004Section 504 Certified Development Companies Debentures1,4712,030
235006SBIC Debentures7344
235007SBIC Participating Securities962345
235010Secondary Market Guarantee3612
2350177(a) General Business Loan Guarantees—ARRA34129
235018Section 504 Certified Development Companies—ARRA21181
235026Section 504 Certified Development Companies Debentures—ARRA Ext43
2350287(a) Business Loan Guarantees—ARRA Extension31
235999Total upward reestimate budget authority4,5194,638
Guaranteed loan downward reestimates:
2370027(a) General Business Loan Guarantees–1
237006SBIC Debentures–10
237007SBIC Participating Securities–10–6
237008SBIC New Market Venture Capital–2–3
237010Secondary Market Guarantee–25–67
237016ARC Loan Guarantees—ARRA–36
2370177(a) General Business Loan Guarantees—ARRA–1
237999Total downward reestimate subsidy budget authority–48–113
Administrative expense data:
3510Budget authority153157145
3590Outlays from new authority153157145
Object Classification(in millions of dollars)Identification code 73–1154–0–1–3762010 actualCR2012 est.
Direct obligations:
25.2Other services from non-federal sources153165148
41.0Grants, subsidies, and contributions5,1235,059259
99.9Total new obligations5,2765,224407
Business Direct Loan Financing Account As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the budget totals. Program and Financing(in millions of dollars)Identification code 73–4148–0–3–3762010 actualCR2012 est.
Obligations by program activity:
Credit program obligations:
0710Direct loan obligations3871245
0713Payment of interest to Treasury785
0740Negative subsidy obligations11
0742Downward reestimate paid to receipt account23
0743Interest on downward reestimates31
0900Total new obligations5072551
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 12122
1021Recoveries of prior year unpaid obligations322
1023Unobligated balances applied to repay debt–17–24–2
1050Unobligated balance (total)7
Financing authority:
Borrowing authority, mandatory:
1400Borrowing authority3669244
Spending authority from offsetting collections, mandatory:
1800Collected394941
1801Change in uncollected payments, Federal sources1
1825Spending authority from offsetting collections applied to repay debt–11–16–34
1850Spending auth from offsetting collections, mand (total)29337
1900Financing authority(total)6572551
1930Total budgetary resources available7272551
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year22
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)3841727
3010Uncollected pymts, Fed sources, brought forward, Oct 1–4–5–5
3020Obligated balance, start of year (net)3436722
3030Obligations incurred, unexpired accounts5072551
3040Financing disbursements (gross)–44–37–33
3050Change in uncollected pymts, Fed sources, unexpired–1
3080Recoveries of prior year unpaid obligations, unexpired–3–2–2
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)41727743
3091Uncollected pymts, Fed sources, end of year–5–5–5
3100Obligated balance, end of year (net)36722738
Financing authority and disbursements, net:
Mandatory:
4090Financing authority, gross6572551
Financing disbursements:
4110Financing disbursements, gross443733
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120Federal sources: Payments from program account–3–9–10
4120Upward reestimate–5–4
4120Interest on reestimate–2–4
4122Interest on uninvested funds–3–5–7
4123Repayments of principal, net–26–25–22
4123Other income–2–2
4130Offsets against gross financing auth and disbursements (total)–39–49–41
Additional offsets against financing authority only (total):
4140Change in uncollected pymts, Fed sources, unexpired–1
4160Financing authority, net (mandatory)2567610
4170Financing disbursements, net (mandatory)5–12–8
4180Financing authority, net (total)2567610
4190Financing disbursements, net (total)5–12–8
Status of Direct Loans(in millions of dollars)Identification code 73–4148–0–3–3762010 actualCR2012 est.
Position with respect to appropriations act limitation on obligations:
1131Direct loan obligations exempt from limitation3871245
1150Total direct loan obligations3871245
Cumulative balance of direct loans outstanding:
1210Outstanding, start of year113121132
1231Disbursements: Direct loan disbursements323733
1251Repayments: Repayments and prepayments–22–25–24
1263Write-offs for default: Direct loans–2–1–2
1290Outstanding, end of year121132139
Balance Sheet(in millions of dollars)Identification code 73–4148–0–3–3762009 actual2010 actual
ASSETS:
Federal assets:
1101Fund balances with Treasury5457
Investments in US securities:
1106Receivables, net78
Net value of assets related to post-1991 direct loans receivable:
1401Direct loans receivable, gross113121
1405Allowance for subsidy cost (-)–28–31
1499Net present value of assets related to direct loans8590
1999Total assets146155
LIABILITIES:
Federal liabilities:
2103Debt144152
2105Other23
2999Total liabilities146155
4999Total liabilities and net position146155
Business Guaranteed Loan Financing Account As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from loan guarantees committed in 1992 and beyond (including modifications of loan guarantees that resulted from commitments in any year). The amounts in this account are a means of financing and are not included in the Budget totals.Program and Financing(in millions of dollars)Identification code 73–4149–0–3–3762010 actualCR2012 est.
Obligations by program activity:
0005Other Expenses11210075
Credit program obligations:
0711Default claim payments on principal5,2244,7502,250
0712Default claim payments on interest382520
0713Payment of interest to Treasury172150100
0742Downward reestimate paid to receipt account3492
0743Interest on downward reestimates1521
0791Direct program activities, subtotal5,4835,0382,370
0900Total new obligations5,5955,1382,445
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 15352,6753,050
Financing authority:
Borrowing authority, mandatory:
1400Borrowing authority1,174
Spending authority from offsetting collections, mandatory:
1800Collected6,5605,5132,183
1801Change in uncollected payments, Federal sources1
1850Spending auth from offsetting collections, mand (total)6,5615,5132,183
1900Financing authority(total)7,7355,5132,183
1930Total budgetary resources available8,2708,1885,233
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year2,6753,0502,788
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)137184576
3010Uncollected pymts, Fed sources, brought forward, Oct 1–200–201–201
3020Obligated balance, start of year (net)–63–17375
3030Obligations incurred, unexpired accounts5,5955,1382,445
3040Financing disbursements (gross)–5,548–4,746–2,086
3050Change in uncollected pymts, Fed sources, unexpired–1
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)184576935
3091Uncollected pymts, Fed sources, end of year–201–201–201
3100Obligated balance, end of year (net)–17375734
Financing authority and disbursements, net:
Mandatory:
4090Financing authority, gross7,7355,5132,183
Financing disbursements:
4110Financing disbursements, gross5,5484,7462,086
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120Payments from program account–575–200–93
4120Upward reestimate–3,778–3,803
4120Interest on reestimate–741–835
4122Interest on uninvested funds–183–175–190
4123Fees–1,283–500–1,000
4123Recoveries–900
4130Offsets against gross financing auth and disbursements (total)–6,560–5,513–2,183
Additional offsets against financing authority only (total):
4140Change in uncollected pymts, Fed sources, unexpired–1
4160Financing authority, net (mandatory)1,174
4170Financing disbursements, net (mandatory)–1,012–767–97
4180Financing authority, net (total)1,174
4190Financing disbursements, net (total)–1,012–767–97
Status of Guaranteed Loans(in millions of dollars)Identification code 73–4149–0–3–3762010 actualCR2012 est.
Position with respect to appropriations act limitation on commitments:
2111Limitation on guaranteed loans made by private lenders20,015115,89895,122
2150Total guaranteed loan commitments20,015115,89895,122
2199Guaranteed amount of guaranteed loan commitments17,01398,51380,854
Cumulative balance of guaranteed loans outstanding:
2210Outstanding, start of year74,78176,19586,650
2231Disbursements of new guaranteed loans14,15623,90023,900
2251Repayments and prepayments–7,480–8,500–8,500
Adjustments:
2261Terminations for default that result in loans receivable–5,116–4,750–3,440
2263Terminations for default that result in claim payments–146–195–195
2290Outstanding, end of year76,19586,65098,415
Memorandum:
2299Guaranteed amount of guaranteed loans outstanding, end of year64,39073,15073,150
Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310Outstanding, start of year6,4268,3968,541
2331Disbursements for guaranteed loan claims4,5261,1501,150
2351Repayments of loans receivable–740–730–730
2361Write-offs of loans receivable–2,426–275–275
2364Other adjustments, net610
2390Outstanding, end of year8,3968,5418,686
Balance Sheet(in millions of dollars)Identification code 73–4149–0–3–3762009 actual2010 actual
ASSETS:
Federal assets:
1101Fund balances with Treasury4732,659
Investments in US securities:
1106Receivables, net4,3863,558
1206Non-Federal assets: Receivables, net1429
Net value of assets related to post-1991 acquired defaulted guaranteed loans receivable:
1501Defaulted guaranteed loans receivable, gross6,4268,396
1504Foreclosed property3438
1505Allowance for subsidy cost (-)–4,342–6,204
1599Net present value of assets related to defaulted guaranteed loans2,1182,230
1999Total assets6,9918,476
LIABILITIES:
Federal liabilities:
2103Debt2,8093,984
2105Other6390
Non-Federal liabilities:
2201Accounts payable125166
2204Liabilities for loan guarantees3,9944,236
2999Total liabilities6,9918,476
4999Total liabilities and net position6,9918,476
Business Loan Fund Liquidating Account As required by the Federal Credit Reform Act of 1990, as amended, this account records all cash flows to and from the Government resulting from SBA direct loans obligated and loan guarantees committed prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees made in any year) is recorded in corresponding program and financing accounts.Program and Financing(in millions of dollars)Identification code 73–4154–0–3–3762010 actualCR2012 est.
Obligations by program activity:
0005Guaranteed loan default claims111
Credit program obligations:
0709Administrative expenses211
0711Default claim payments on principal1
0791Direct program activities, subtotal311
0900Total new obligations422
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 165
1022Capital transfer of unobligated balances to general fund–6–5
1050Unobligated balance (total)
Budget authority:
Appropriations, mandatory:
1200Appropriation221
Spending authority from offsetting collections, mandatory:
1800Collected1064
1820Capital transfer of spending authority from offsetting collections to general fund–5–2
1825Spending authority from offsetting collections applied to repay FFB–3–1–1
1850Spending auth from offsetting collections, mand (total)71
1900Budget authority (total)922
1930Total budgetary resources available922
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year5
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)335
3030Obligations incurred, unexpired accounts422
3040Outlays (gross)–4–1
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)356
Budget authority and outlays, net:
Mandatory:
4090Budget authority, gross922
Outlays, gross:
4100Outlays from new mandatory authority41
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123Non-Federal sources–10–6–4
4160Budget authority, net (mandatory)–1–4–2
4170Outlays, net (mandatory)–6–6–3
4180Budget authority, net (total)–1–4–2
4190Outlays, net (total)–6–6–3
Status of Direct Loans(in millions of dollars)Identification code 73–4154–0–3–3762010 actualCR2012 est.
Cumulative balance of direct loans outstanding:
1210Outstanding, start of year252116
1251Repayments: Repayments and prepayments–1–1
Write-offs for default:
1263Direct loans–2–2–2
1264Other adjustments, net (+ or -)–2–2–1
1290Outstanding, end of year211612
Status of Guaranteed Loans(in millions of dollars)Identification code 73–4154–0–3–3762010 actualCR2012 est.
Cumulative balance of guaranteed loans outstanding:
2210Outstanding, start of year745233
2251Repayments and prepayments–20–18–15
Adjustments:
2261Terminations for default that result in loans receivable
2263Terminations for default that result in claim payments–2–1–1
2290Outstanding, end of year523317
Memorandum:
2299Guaranteed amount of guaranteed loans outstanding, end of year431810
Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310Outstanding, start of year454229
2331Disbursements for guaranteed loan claims11
2351Repayments of loans receivable–7–12–12
2361Write-offs of loans receivable–2–2
2364Other adjustments, net4
2390Outstanding, end of year422916
Balance Sheet(in millions of dollars)Identification code 73–4154–0–3–3762009 actual2010 actual
ASSETS:
1101Federal assets: Fund balances with Treasury88
1206Non-Federal assets: Receivables, net33
1601Direct loans, gross2521
1603Allowance for estimated uncollectible loans and interest (-)–1
1604Direct loans and interest receivable, net2421
1699Value of assets related to direct loans2421
1701Defaulted guaranteed loans, gross4542
1703Allowance for estimated uncollectible loans and interest (-)–23–24
1799Value of assets related to loan guarantees2218
1901Other Federal assets: Other assets76
1999Total assets6456
LIABILITIES:
Federal liabilities:
2101Accounts payable11
2103Debt62
2104Resources payable to Treasury5550
Non-Federal liabilities:
2201Accounts payable12
2207Other Liabilities11
2999Total liabilities6456
4999Total liabilities and net position6456
Object Classification(in millions of dollars)Identification code 73–4154–0–3–3762010 actualCR2012 est.
Direct obligations:
42.0Insurance claims and indemnities311
43.0Interest and dividends111
99.9Total new obligations422
Disaster Loans Program Account Disaster Loans Program Account(including transfers of funds) For administrative expenses to carry out the direct loan program authorized by section 7(b) of the Small Business Act, $203,000,000$167,300,000, to be available until expended, of which $1,000,000 is for the Office of Inspector General of the Small Business Administration for audits and reviews of disaster loans and the disaster loan programs and shall be paid to the appropriations for the Office of Inspector General; of which $193,000,000$157,300,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, which may be paid to the appropriations for Salaries and Expenses; and of which $9,000,000 is for indirect administrative expenses for the direct loan program, which may be paid to the appropriations for Salaries and Expenses. Note.—A full-year 2011 appropriation for this account was not enacted at the time the budget was prepared; therefore, this account is operating under a continuing resolution (P.L. 111–242, as amended). The amounts included for 2011 reflect the annualized level provided by the continuing resolution.As required by the Federal Credit Reform Act of 1990, as amended, this account records, for loans made pursuant to Section 7(b) of the Small Business Act, as amended, the subsidy costs associated with the direct loans obligated in 1992 and beyond (including modifications of direct loans or loan guarantees that resulted from obligations or commitments in any year), as well as administrative expenses of this program. The subsidy amounts are estimated on a present value basis; the administrative expenses are estimated on a cash basis.Disaster loans made pursuant to Section 7(b) of the Small Business Act provide Federal assistance for non-farm, private sector disaster losses. Through the disaster assistance program, SBA helps homeowners, renters, businesses of all sizes, and non-profit organizations pay for the cost of replacing, rebuilding or repairing property damaged by disasters. The program is the only form of SBA financial assistance not limited to small businesses. The program provides subsidized loans of up to 30 years to borrowers who have incurred uninsured physical losses or economic injury as the result of a disaster. In 2012, the Budget supports $1.1 billion in loans, the ten-year average for such loans, excluding outlying events. The Budget includes a legislative proposal (Section 521 of the SBA Administrative Provisions) to increase the maximum term for Business Credit Elsewhere loans from three to seven years. With this policy proposal, the subsidy rate is 10.93 percent. The Budget does not request new credit subsidy budget authority (BA), as SBA has sufficient unobligated balances to support estimated 2012 loan approvals. However, the Budget does request $167 million in new BA for administrative expenses. Program and Financing(in millions of dollars)Identification code 73–1152–0–1–4532010 actualCR2012 est.
Obligations by program activity:
Credit program obligations:
0701Direct loan subsidy51149124
0702Loan guarantee subsidy1
0705Reestimates of direct loan subsidy181171
0706Interest on reestimates of direct loan subsidy5558
0709Administrative expenses8677167
0900Total new obligations373455292
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 1853805678
1021Recoveries of prior year unpaid obligations122010
1050Unobligated balance (total)865825688
Budget authority:
Appropriations, discretionary:
1100Appropriation7879167
Appropriations, mandatory:
1200Appropriation235229
1900Budget authority (total)313308167
1930Total budgetary resources available1,1781,133855
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year805678563
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)322422
3030Obligations incurred, unexpired accounts373455292
3040Outlays (gross)–369–437–294
3080Recoveries of prior year unpaid obligations, unexpired–12–20–10
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)242210
Budget authority and outlays, net:
Discretionary:
4000Budget authority, gross7879167
Outlays, gross:
4010Outlays from new discretionary authority7679167
4011Outlays from discretionary balances58129127
4020Outlays, gross (total)134208294
Additional offsets against gross budget authority only:
4052Offsetting collections credited to expired accounts
4070Budget authority, net (discretionary)7879167
4080Outlays, net (discretionary)134208294
Mandatory:
4090Budget authority, gross235229
Outlays, gross:
4100Outlays from new mandatory authority235229
4180Budget authority, net (total)313308167
4190Outlays, net (total)369437294
Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program(in millions of dollars)Identification code 73–1152–0–1–4532010 actualCR2012 est.
Direct loan levels supportable by subsidy budget authority:
115001Disaster Assistance Loans4721,1001,100
115999Total direct loan levels4721,1001,100
Direct loan subsidy (in percent):
132001Disaster Assistance Loans10.7713.5311.28
132999Weighted average subsidy rate10.7713.5311.28
Direct loan subsidy budget authority:
133001Disaster Assistance Loans51149124
133999Total subsidy budget authority51149124
Direct loan subsidy outlays:
134001Disaster Assistance Loans47116116
134999Total subsidy outlays47116116
Direct loan upward reestimates:
135001Disaster Assistance Loans223221
135002Economic Injury Disaster Loans—Terrorist Attack128
135999Total upward reestimate budget authority235229
Direct loan downward reestimates:
137001Disaster Assistance Loans–24–37
137999Total downward reestimate budget authority–24–37
Guaranteed loan levels supportable by subsidy budget authority:
215001Immediate Disaster Assistance19
215002Expedited Disaster Assistance63
215999Total loan guarantee levels1963
Guaranteed loan subsidy (in percent):
232001Immediate Disaster Assistance0.001.890.00
232002Expedited Disaster Assistance0.000.002.28
232999Weighted average subsidy rate0.001.892.28
Guaranteed loan subsidy budget authority:
233002Expedited Disaster Assistance1
233999Total subsidy budget authority1
Guaranteed loan subsidy outlays:
234002Expedited Disaster Assistance1
234999Total subsidy outlays1
Administrative expense data:
3510Budget authority7677167
3580Outlays from balances10
3590Outlays from new authority7677167
Object Classification(in millions of dollars)Identification code 73–1152–0–1–4532010 actualCR2012 est.
Direct obligations:
25.2Other services from non-federal sources8677167
41.0Grants, subsidies, and contributions287378125
99.9Total new obligations373455292
Disaster Direct Loan Financing Account As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from disaster direct loans obligated in 1992 and beyond (including modifications of direct loans that resulted from obligations in any year). The amounts in this account are a means of financing and are not included in the Budget totals. Program and Financing(in millions of dollars)Identification code 73–4150–0–3–4532010 actualCR2012 est.
Obligations by program activity:
0003Other7
Credit program obligations:
0710Direct loan obligations4721,1001,100
0713Payment of interest to Treasury367350300
0742Downward reestimate paid to receipt account2435
0743Interest on downward reestimates2
0791Direct program activities, subtotal8631,4871,400
0900Total new obligations8701,4871,400
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 1639762
1021Recoveries of prior year unpaid obligations78200150
1023Unobligated balances applied to repay debt–672–500
1050Unobligated balance (total)45462150
Financing authority:
Borrowing authority, mandatory:
1400Borrowing authority369951988
Spending authority from offsetting collections, mandatory:
1800Collected1,2259871,014
1801Change in uncollected payments, Federal sources–7
1820Capital transfer of spending authority from offsetting collections to general fund–913–752
1850Spending auth from offsetting collections, mand (total)1,21874262
1900Financing authority(total)1,5871,0251,250
1930Total budgetary resources available1,6321,4871,400
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year762
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)215219406
3010Uncollected pymts, Fed sources, brought forward, Oct 1–32–25–25
3020Obligated balance, start of year (net)183194381
3030Obligations incurred, unexpired accounts8701,4871,400
3040Financing disbursements (gross)–788–1,100–1,100
3050Change in uncollected pymts, Fed sources, unexpired7
3080Recoveries of prior year unpaid obligations, unexpired–78–200–150
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)219406556
3091Uncollected pymts, Fed sources, end of year–25–25–25
3100Obligated balance, end of year (net)194381531
Financing authority and disbursements, net:
Mandatory:
4090Financing authority, gross1,5871,0251,250
Financing disbursements:
4110Financing disbursements, gross7881,1001,100
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120Payments from program account–47–116–116
4120Upward reestimate–181–171
4120Interest on upward reestimate–54–58
4122Interest income from Treasury–61–89–98
4123Repayments of principal, net–877–553–800
4123Non-Federal sources-Other–5
4130Offsets against gross financing auth and disbursements (total)–1,225–987–1,014
Additional offsets against financing authority only (total):
4140Change in uncollected pymts, Fed sources, unexpired7
4160Financing authority, net (mandatory)36938236
4170Financing disbursements, net (mandatory)–43711386
4180Financing authority, net (total)36938236
4190Financing disbursements, net (total)–43711386
Status of Direct Loans(in millions of dollars)Identification code 73–4150–0–3–4532010 actualCR2012 est.
Position with respect to appropriations act limitation on obligations:
1131Direct loan obligations exempt from limitation4721,1001,100
1150Total direct loan obligations4721,1001,100
Cumulative balance of direct loans outstanding:
1210Outstanding, start of year8,4547,9448,200
1231Disbursements: Direct loan disbursements3881,1001,100
1251Repayments: Repayments and prepayments–588–553–538
Write-offs for default:
1263Direct loans–301–283–275
1264Other adjustments, net (+ or -)–9–8–8
1290Outstanding, end of year7,9448,2008,479
Balance Sheet(in millions of dollars)Identification code 73–4150–0–3–4532009 actual2010 actual
ASSETS:
1101Federal assets: Fund balances with Treasury1,0661,186
Net value of assets related to post-1991 direct loans receivable:
1401Direct loans receivable, gross8,4547,944
1405Allowance for subsidy cost (-)–1,596–1,475
1499Net present value of assets related to direct loans6,8586,469
1999Total assets7,9247,655
LIABILITIES:
Federal liabilities:
2103Debt7,9207,653
2105Other42
2999Total liabilities7,9247,655
4999Total liabilities and net position7,9247,655
Disaster Loans Guaranteed Loan Financing Account As required by the Federal Credit Reform Act of 1990, as amended, this non-budgetary account records all cash flows to and from the Government resulting from loan guarantees committed in 1992 and beyond (including modifications of loan guarantees that resulted from commitments in any year). The amounts in this account are a means of financing and are not included in the Budget totals.Program and Financing(in millions of dollars)Identification code 73–4293–0–3–4532010 actualCR2012 est.
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 11
Financing authority:
Spending authority from offsetting collections, mandatory:
1800Collected11
1900Financing authority(total)11
1930Total budgetary resources available12
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year12
Financing authority and disbursements, net:
Mandatory:
4090Financing authority, gross11
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120Payments from program account–1–1
4160Financing authority, net (mandatory)
4170Financing disbursements, net (mandatory)–1–1
4180Financing authority, net (total)
4190Financing disbursements, net (total)–1–1
Status of Guaranteed Loans(in millions of dollars)Identification code 73–4293–0–3–4532010 actualCR2012 est.
Position with respect to appropriations act limitation on commitments:
2131Guaranteed loan commitments exempt from limitation1963
2150Total guaranteed loan commitments1963
2199Guaranteed amount of guaranteed loan commitments1654
Cumulative balance of guaranteed loans outstanding:
2210Outstanding, start of year19
2231Disbursements of new guaranteed loans1963
2251Repayments and prepayments–10
2290Outstanding, end of year1972
Memorandum:
2299Guaranteed amount of guaranteed loans outstanding, end of year1661
Disaster Loan Fund Liquidating Account As required by the Federal Credit Reform Act of 1990, as amended, this account records all cash flows to and from the Government resulting from SBA disaster direct loans obligated prior to 1992. This account is shown on a cash basis. All new activity in this program in 1992 and beyond (including modifications of direct loans or loan guarantees made in any year) is recorded in corresponding program and financing accounts.Program and Financing(in millions of dollars)Identification code 73–4153–0–3–4532010 actualCR2012 est.
Obligations by program activity:
0101Interest expense to Treasury11
0103Other expenses111
0900Total new obligations122
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 165
1022Capital transfer of unobligated balances to general fund–6–5
1050Unobligated balance (total)
Budget authority:
Appropriations, mandatory:
1200Appropriation222
Spending authority from offsetting collections, mandatory:
1800Collected444
1820Capital transfer of spending authority from offsetting collections to general fund–4–4
1850Spending auth from offsetting collections, mand (total)4
1900Budget authority (total)622
1930Total budgetary resources available622
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year5
Change in obligated balance:
Obligated balance, start of year (net):
3000Unpaid obligations, brought forward, Oct 1 (gross)12
3030Obligations incurred, unexpired accounts122
3040Outlays (gross)–2
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)24
Budget authority and outlays, net:
Mandatory:
4090Budget authority, gross622
Outlays, gross:
4100Outlays from new mandatory authority2
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123Non-Federal sources–4–4–4
4160Budget authority, net (mandatory)2–2–2
4170Outlays, net (mandatory)–2–4–4
4180Budget authority, net (total)2–2–2
4190Outlays, net (total)–2–4–4
Status of Direct Loans(in millions of dollars)Identification code 73–4153–0–3–4532010 actualCR2012 est.
Cumulative balance of direct loans outstanding:
1210Outstanding, start of year14118
1251Repayments: Repayments and prepayments–3–2–2
1263Write-offs for default: Direct loans–1–1
1290Outstanding, end of year1185
Balance Sheet(in millions of dollars)Identification code 73–4153–0–3–4532009 actual2010 actual
ASSETS:
1101Federal assets: Fund balances with Treasury65
1601Direct loans, net1411
1603Allowance for estimated uncollectible loans and interest (-)–1–1
1699Value of assets related to direct loans1310
1999Total assets1915
LIABILITIES:
2104Federal liabilities: Resources payable to Treasury1915
2999Total liabilities1915
4999Total liabilities and net position1915
Object Classification(in millions of dollars)Identification code 73–4153–0–3–4532010 actualCR2012 est.
Direct obligations:
25.2Other services from non-federal sources111
43.0Interest and dividends11
99.9Total new obligations122
Pollution Control Equipment Fund Liquidating Account Public Law 94–305 established this fund to alleviate the adverse impact of pollution regulations on small businesses. As a result of the elimination of tax-exempt financing associated with the Pollution Control Guaranteed loan program, no new activity is anticipated for this program.Program and Financing(in millions of dollars)Identification code 73–4147–0–3–3762010 actualCR2012 est.
Obligations by program activity:
Credit program obligations:
0711Default claim payments on principal21
0900Total new obligations (object class 42.0)21
Budgetary Resources:
Unobligated balance:
1000Unobligated balance brought forward, Oct 132
1022Capital transfer of unobligated balances to general fund–3–2
1050Unobligated balance (total)
Budget authority:
Appropriations, mandatory:
1200Appropriation221
1930Total budgetary resources available221
Memorandum (non-add) entries:
1941Unexpired unobligated balance, end of year2
Change in obligated balance:
3030Obligations incurred, unexpired accounts21
3040Outlays (gross)–2
Obligated balance, end of year (net):
3090Unpaid obligations, end of year (gross)
Budget authority and outlays, net:
Mandatory:
4090Budget authority, gross221
Outlays, gross:
4100Outlays from new mandatory authority2
4180Budget authority, net (total)221
4190Outlays, net (total)2
Status of Guaranteed Loans(in millions of dollars)Identification code 73–4147–0–3–3762010 actualCR2012 est.
Cumulative balance of guaranteed loans outstanding:
2210Outstanding, start of year1
2251Repayments and prepayments–1
Adjustments:
2263Terminations for default that result in claim payments–2–1
2264Other adjustments, net21
2290Outstanding, end of year
Memorandum:
2299Guaranteed amount of guaranteed loans outstanding, end of year
Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310Outstanding, start of year101010
2390Outstanding, end of year101010
Balance Sheet(in millions of dollars)Identification code 73–4147–0–3–3762009 actual2010 actual
ASSETS:
1101Federal assets: Fund balances with Treasury32
1603Allowance for estimated uncollectible loans and interest (-)–8–8
1701Defaulted guaranteed loans, gross1010
1999Total assets54
LIABILITIES:
2104Federal liabilities: Resources payable to Treasury54
2999Total liabilities54
4999Total liabilities and net position54
GENERAL FUND RECEIPT ACCOUNTS (in millions of dollars)2010 actualCR2012 est.
Offsetting receipts from the public:
73–272130Disaster Loan Program, Downward Reestimates of Subsidies2437
73–272210Business Loan Program, Negative Subsidies1
73–272230Business Loan Program, Downward Reestimates of Subsidies54116
General Fund Offsetting receipts from the public78154
ADMINISTRATIVE PROVISIONS Administrative Provisions—Small Business Administration(including transfer of funds)520 Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Small Business Administration in this Act may be transferred between such appropriations, but no such appropriation shall be increased by more than 10 percent by any such transfers: Provided, That any transfer pursuant to this paragraph shall be treated as a reprogramming of funds under section 608 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section.521Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended in subparagraph 7(d)(5)(D) by striking in the last sentence "three years" and inserting in lieu thereof "seven years".522Section 7(a)(3)(A) of the Small Business Act (15 U.S.C. 636(a)(3)(A)) is amended by striking "$1,500,000" and inserting in lieu thereof "$3,750,000" and by striking "$2,000,000" and inserting in lieu thereof "$5,000,000".523522Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended-amended in paragraph (3)(C), by striking "$750,000" and inserting in lieu thereof "$1,000,000".ain paragraph (1)(B)(iii), by striking "$35,000" and inserting in lieu thereof "$50,000";bin paragraph (3)(C), by striking "$750,000" and inserting in lieu thereof "$1,000,000" and by striking "$3,500,000" and inserting in lieu thereof "$5,000,000";cin paragraph (3)(E), by striking "$35,000" each place that term appears and inserting in lieu thereof "$50,000"; anddin paragraph (11)(B), by striking "$35,000" and inserting in lieu thereof "$50,000".524Section 502(2)(A) of the Small Business Investment Act (15 U.S.C. 696(2)(A)) is amended-ain clause (ii) by striking "$2,000,000" and inserting in lieu thereof "$5,000,000";bin clause (iii) by striking "$4,000,000" and inserting in lieu thereof "$5,500,000".