SMALL BUSINESS ADMINISTRATION

Federal Funds

Salaries and Expenses

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, $485,923,000: 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 the Small Business Administration may accept gifts in an amount not to exceed $4,000,000 and may co-sponsor activities, each in accordance with section 132(a) of division K of Public Law 108–447, during fiscal year 2014: Provided further, That $104,680,000 shall be available to fund grants for performance in fiscal year 2014 or fiscal year 2015 as authorized by section 21 of the Small Business Act, to remain available until September 30, 2015: Provided further, That $19,850,000 shall remain available until September 30, 2015 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 $6,100,000 shall be available for the Loan Modernization and Accounting System, to be available until September 30, 2015: Provided further, That $58,050,000, shall be available to make grants to or cooperative agreements with organizations to provide technical assistance to small businesses.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution as well as amounts from P.L. 113–2, the Disaster Relief Appropriations Act, 2013 (no language shown).

Program and Financing (in millions of dollars)


Identification code 73–0100–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Executive direction 81 80 83
0002 Capital Access 93 91 92
0003 Gov. Contracting/ Bus. Development 28 27 27
0004 Entrepreneurial Development 9 9 18
0005 Management & Adminstration 23 22 26
0006 Office of Chief Information Officer 41 41 46
0007 Regional & district offices 100 98 104
0008 Agency wide costs 49 53 53
0009 Non credit programs 213 192 211
0012 Disaster 202 356 192



0900 Total new obligations 839 969 852

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 175 83 161
1021 Recoveries of prior year unpaid obligations 10



1050 Unobligated balance (total) 185 83 161
Budget authority:
Appropriations, discretionary:
1100 Appropriation 417 420 486
1100 Appropriation 20



1160 Appropriation, discretionary (total) 417 440 486
Spending authority from offsetting collections, discretionary:
1700 Collected 169 446 192
1700 Collected 160 161 166



1750 Spending auth from offsetting collections, disc (total) 329 607 358
1900 Budget authority (total) 746 1,047 844
1930 Total budgetary resources available 931 1,130 1,005
Memorandum (non-add) entries:
1940 Unobligated balance expiring –9
1941 Unexpired unobligated balance, end of year 83 161 153

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 495 436 300
3010 Obligations incurred, unexpired accounts 839 969 852
3011 Obligations incurred, expired accounts 11
3020 Outlays (gross) –884 –1,105 –860
3040 Recoveries of prior year unpaid obligations, unexpired –10
3041 Recoveries of prior year unpaid obligations, expired –15



3050 Unpaid obligations, end of year 436 300 292
Memorandum (non-add) entries:
3100 Obligated balance, start of year 495 436 300
3200 Obligated balance, end of year 436 300 292

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 746 1,047 844
Outlays, gross:
4010 Outlays from new discretionary authority 542 706 536
4011 Outlays from discretionary balances 342 399 324



4020 Outlays, gross (total) 884 1,105 860
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Baseline Program [Text] –317 –595 –344
4033 Baseline Program [Text] –13 –12 –14



4040 Offsets against gross budget authority and outlays (total) –330 –607 –358
Additional offsets against gross budget authority only:
4052 Offsetting collections credited to expired accounts 1



4070 Budget authority, net (discretionary) 417 440 486
4080 Outlays, net (discretionary) 554 498 502
4180 Budget authority, net (total) 417 440 486
4190 Outlays, net (total) 554 498 502

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 2014 Budget provides $6.1 million in funding for the continued development of a revised loan management accounting system, which will improve oversight of SBA's more than $100 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.

For 2014, the Budget supports a new entrepreneurial education initiative designed to train and develop small business owners that are poised for growth, as well as the Boots to Business program, which provides entrepreneurship training to America's veterans transitioning to civilian life. The Budget also supports place-based initiatives, such as the Regional Innovation Clusters program and growth accelerators. In addition, the 2014 Budget supports an increase in the number of SBA's Procurement Center Representatives, who will be strategically embedded across the Federal Government to try to increase Federal contracting opportunities for small businesses.

Object Classification (in millions of dollars)


Identification code 73–0100–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 189 201 206
11.3 Other than full-time permanent 10 10 10
11.5 Other personnel compensation 4 4 4



11.9 Total personnel compensation 203 215 220
12.1 Civilian personnel benefits 61 64 65
21.0 Travel and transportation of persons 7 7 7
23.1 Rental payments to GSA 36 37 37
23.3 Communications, utilities, and miscellaneous charges 8 7 8
24.0 Printing and reproduction 1 1 1
25.2 Other services from non-Federal sources 100 82 101
25.3 Other purchases of goods and services from Government accounts (Disaster Administrative Expenses) 202 356 192
26.0 Supplies and materials 5 4 5
31.0 Equipment 3 3 4
41.0 Grants, subsidies, and contributions 213 192 211



99.0 Direct obligations 839 968 851
99.0 Reimbursable obligations 1 1



99.9 Total new obligations 839 969 852

Employment Summary


Identification code 73–0100–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 3,234 3,202 3,311

Office of Inspector General

For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978, $19,400,000.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution as well as amounts from P.L. 113–2, the Disaster Relief Appropriations Act, 2013 (no language shown).

Program and Financing (in millions of dollars)


Identification code 73–0200–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Audit 7 7 9
0002 Investigations 10 10 10
0003 Management policy 1 1 1
0004 General Office/Legal Counsel 2 2 2



0900 Total new obligations 20 20 22

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 10 7 9
Budget authority:
Appropriations, discretionary:
1100 Appropriation 16 16 19
1100 Emergency pursuant to 2011 Budget Control Act, Appropriations Committee. 5



1160 Appropriation, discretionary (total) 16 21 19
Spending authority from offsetting collections, discretionary:
1700 Collected 1 1 1



1750 Spending auth from offsetting collections, disc (total) 1 1 1
1900 Budget authority (total) 17 22 20
1930 Total budgetary resources available 27 29 29
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7 9 7

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 3 3 2
3010 Obligations incurred, unexpired accounts 20 20 22
3020 Outlays (gross) –20 –21 –22



3050 Unpaid obligations, end of year 3 2 2
Memorandum (non-add) entries:
3100 Obligated balance, start of year 3 3 2
3200 Obligated balance, end of year 3 2 2

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 17 22 20
Outlays, gross:
4010 Outlays from new discretionary authority 16 17 19
4011 Outlays from discretionary balances 4 4 3



4020 Outlays, gross (total) 20 21 22
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Baseline Program [Disaster Transfer] –1 –1 –1
4180 Budget authority, net (total) 16 21 19
4190 Outlays, net (total) 19 20 21

The 2014 Budget proposes $19.4 million in new budget authority and $1 million transferred from the Disaster Loans Program account for a total of $20.4 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.

Object Classification (in millions of dollars)


Identification code 73–0200–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 11 11 13
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 12 12 14
12.1 Civilian personnel benefits 4 4 4
25.2 Other services 3 3 3



99.0 Direct obligations 19 19 21
99.0 Reimbursable obligations 1 1 1



99.9 Total new obligations 20 20 22

Employment Summary


Identification code 73–0200–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 110 112 119

Office of Advocacy

For necessary expenses of the Office of Advocacy in carrying out the provisions of title II of Public Law 94–305 (15 U.S.C. 634a et seq.) and the Regulatory Flexibility Act of 1980 (5 U.S.C. 601 et seq.), $8,455,000, to remain available until expended.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 73–0300–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0001 Direct program activity 8 9 8

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1 1
Budget authority:
Appropriations, discretionary:
1100 Appropriation 9 9 8



1160 Appropriation, discretionary (total) 9 9 8
1930 Total budgetary resources available 9 10 9
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 1 1

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1 2
3010 Obligations incurred, unexpired accounts 8 9 8
3020 Outlays (gross) –7 –8 –7



3050 Unpaid obligations, end of year 1 2 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1 2
3200 Obligated balance, end of year 1 2 3

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 9 9 8
Outlays, gross:
4010 Outlays from new discretionary authority 7 8 7
4180 Budget authority, net (total) 9 9 8
4190 Outlays, net (total) 7 8 7

The 2014 Budget proposes $8.455 million 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 until expended.

The Office of Advocacy's advice and small business research help 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.

Object Classification (in millions of dollars)


Identification code 73–0300–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 5 5 5
12.1 Civilian personnel benefits 2 2 2
25.2 Other services from non-Federal sources 1 2 1



99.9 Total new obligations 8 9 8

Employment Summary


Identification code 73–0300–0–1–376 2012 actual 2013 CR 2014 est.

1001 Direct civilian full-time equivalent employment 46 46 46

Surety Bond Guarantees Revolving Fund

Program and Financing (in millions of dollars)


Identification code 73–4156–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0801 Reimbursable obligations 8 9 10



0900 Total new obligations (object class 42.0) 8 9 10

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 59 61 61
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 10 9 10



1750 Spending auth from offsetting collections, disc (total) 10 9 10
1900 Budget authority (total) 10 9 10
1930 Total budgetary resources available 69 70 71
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 61 61 61

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1 1
3010 Obligations incurred, unexpired accounts 8 9 10
3020 Outlays (gross) –7 –9 –10



3050 Unpaid obligations, end of year 1 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1 1
3200 Obligated balance, end of year 1 1 1

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 10 9 10
Outlays, gross:
4010 Outlays from new discretionary authority 5 9 10
4011 Outlays from discretionary balances 2



4020 Outlays, gross (total) 7 9 10
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –10 –9 –10
4190 Outlays, net (total) –3

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. It is estimated that there are sufficient funds in reserve to cover the cost of claim defaults in 2014. Therefore, no new appropriated funds are requested in the Budget.

Balance Sheet (in millions of dollars)


Identification code 73–4156–0–3–376 2011 actual 2012 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 59 61
Investments in US securities:
1106 Receivables, net 1 2


1999 Total assets 60 63
LIABILITIES:
2201 Non-Federal liabilities: Accounts payable 21 23
NET POSITION:
3300 Cumulative results of operations 39 40


4999 Total liabilities and net position 60 63

Business Loans Program Account

(including transfer of funds)

For the cost of direct loans, $4,600,000, to remain available until expended, and for the cost of guaranteed loans as authorized by section 503 of the Small Business Investment Act of 1958 (Public Law 85–699), $107,000,000, 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 2014 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 2014 commitments for general business loans authorized under section 7(a) of the Small Business Act shall not exceed $17,500,000,000 for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans: Provided further, That during fiscal year 2014 commitments for loans authorized under subparagraph (C) of section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) shall not exceed $7,500,000,000: Provided further, That during fiscal year 2014 commitments to guarantee loans for debentures under section 303(b) of the Small Business Investment Act of 1958 shall not exceed $4,000,000,000: Provided further, That during fiscal year 2014, 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, $151,560,000, which shall be paid to the appropriations for Salaries and Expenses.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution.

Program and Financing (in millions of dollars)


Identification code 73–1154–0–1–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 8 7 5
0702 Loan guarantee subsidy 196 428 128
0705 Reestimates of direct loan subsidy 3 2
0706 Interest on reestimates of direct loan subsidy 2 2
0707 Reestimates of loan guarantee subsidy 2,129 643
0708 Interest on reestimates of loan guarantee subsidy 375 207
0709 Administrative expenses 148 149 152



0900 Total new obligations 2,861 1,438 285

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 60 77
1001 Discretionary unobligated balance brought fwd, Oct 1 60 60
1021 Recoveries of prior year unpaid obligations 8 20 22



1050 Unobligated balance (total) 68 97 22
Budget authority:
Appropriations, discretionary:
1100 Appropriation 359 487 263



1160 Appropriation, discretionary (total) 359 487 263
Appropriations, mandatory:
1200 Appropriation 2,509 854



1260 Appropriations, mandatory (total) 2,509 854
Spending authority from offsetting collections, discretionary:
1700 Collected 3



1750 Spending auth from offsetting collections, disc (total) 3
1900 Budget authority (total) 2,871 1,341 263
1930 Total budgetary resources available 2,939 1,438 285
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 77

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 189 156 258
3010 Obligations incurred, unexpired accounts 2,861 1,438 285
3020 Outlays (gross) –2,861 –1,316 –303
3040 Recoveries of prior year unpaid obligations, unexpired –8 –20 –22
3041 Recoveries of prior year unpaid obligations, expired –25



3050 Unpaid obligations, end of year 156 258 218
Memorandum (non-add) entries:
3100 Obligated balance, start of year 189 156 258
3200 Obligated balance, end of year 156 258 218

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 362 487 263
Outlays, gross:
4010 Outlays from new discretionary authority 254 336 181
4011 Outlays from discretionary balances 98 126 122



4020 Outlays, gross (total) 352 462 303
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –3
Mandatory:
4090 Budget authority, gross 2,509 854
Outlays, gross:
4100 Outlays from new mandatory authority 2,509 854
4180 Budget authority, net (total) 2,868 1,341 263
4190 Outlays, net (total) 2,858 1,316 303

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 73–1154–0–1–376 2012 actual 2013 CR 2014 est.

Direct loan levels supportable by subsidy budget authority:
115001 7(m) Direct Microloans 24 43 25
115011 Intermediary Lending Program 18



115999 Total direct loan levels 42 43 25
Direct loan subsidy (in percent):
132001 7(m) Direct Microloans 14.71 15.71 18.64
132011 Intermediary Lending Program 25.73 0.00 0.00



132999 Weighted average subsidy rate 19.43 15.71 18.64
Direct loan subsidy budget authority:
133001 7(m) Direct Microloans 4 7 5
133011 Intermediary Lending Program 5



133999 Total subsidy budget authority 9 7 5
Direct loan subsidy outlays:
134001 7(m) Direct Microloans 3 3 4
134010 7(m) Direct Microloans — ARRA 1
134011 Intermediary Lending Program 2 2



134999 Total subsidy outlays 6 5 4
Direct loan upward reestimates:
135001 7(m) Direct Microloans 1 3
135007 SBIC Direct Preferred Stock and Fee Loans 3
135010 7(m) Direct Microloans — ARRA 1 1



135999 Total upward reestimate budget authority 5 4
Direct loan downward reestimates:
137001 7(m) Direct Microloans –3 –5



137999 Total downward reestimate budget authority –3 –5

Guaranteed loan levels supportable by subsidy budget authority:
215002 7(a) General Business Loan Guarantees 12,371 14,993 15,653
215004 Section 504 Certified Development Companies Debentures 4,411 7,500 6,000
215006 SBIC Debentures 1,924 3,000 3,000
215010 Secondary Market Guarantee 3,926 12,000 12,000
215015 Secondary Market 504 First Mortgage Guarantees-ARRA 568
215020 7(a) Dealer Floor Plan 408 13,001
215024 7(a) Revolvers 32,381 50,237 41,274
215027 504 Commercial Real Estate (CRE) Refinance Program 2,246



215999 Total loan guarantee levels 58,235 100,731 77,927
Guaranteed loan subsidy (in percent):
232002 7(a) General Business Loan Guarantees 0.87 1.55 –0.17
232004 Section 504 Certified Development Companies Debentures 1.09 2.02 1.71
232006 SBIC Debentures 0.00 0.00 0.00
232010 Secondary Market Guarantee 0.00 0.00 0.00
232015 Secondary Market 504 First Mortgage Guarantees-ARRA 0.00 0.00 0.00
232020 7(a) Dealer Floor Plan 0.02 0.03 0.00
232024 7(a) Revolvers 0.12 0.08 0.06
232027 504 Commercial Real Estate (CRE) Refinance Program 0.00 0.00 0.00



232999 Weighted average subsidy rate 0.33 0.42 0.13
Guaranteed loan subsidy budget authority:
233002 7(a) General Business Loan Guarantees 108 232 –27
233004 Section 504 Certified Development Companies Debentures 48 152 103
233020 7(a) Dealer Floor Plan 4
233024 7(a) Revolvers 39 40 25



233999 Total subsidy budget authority 195 428 101
Guaranteed loan subsidy outlays:
234002 7(a) General Business Loan Guarantees 92 148 3
234004 Section 504 Certified Development Companies Debentures 13 65 86
234017 7(a) General Business Loan Guarantees—ARRA 2 1 1
234018 Section 504 Certified Development Companies—ARRA 6 1 1
234020 7(a) Dealer Floor Plan 1
234021 7(a) Dealer Floor Plan—ARRA 1
234024 7(a) Revolvers 35 35 35
234026 Section 504 Certified Development Companies Debentures—ARRA Ext 13 4 4
234028 7(a) Business Loan Guarantees—ARRA Extension 37 1 1



234999 Total subsidy outlays 198 255 133
Guaranteed loan upward reestimates:
235002 7(a) General Business Loan Guarantees 1,122 161
235003 7(a) General Business Loan Guarantees—STAR 7 3
235004 Section 504 Certified Development Companies Debentures 880 121
235006 SBIC Debentures 38 22
235007 SBIC Participating Securities 1 470
235008 SBIC New Market Venture Capital 11
235010 Secondary Market Guarantee 11 18
235015 Secondary Market 504 First Mortgage Guarantees-ARRA 5 2
235017 7(a) General Business Loan Guarantees—ARRA 53
235018 Section 504 Certified Development Companies—ARRA 149
235026 Section 504 Certified Development Companies Debentures—ARRA Ext 129 10
235027 504 Commercial Real Estate (CRE) Refinance Program 4 31
235028 7(a) Business Loan Guarantees—ARRA Extension 105



235999 Total upward reestimate budget authority 2,504 849
Guaranteed loan downward reestimates:
237002 7(a) General Business Loan Guarantees –3 –472
237004 Section 504 Certified Development Companies Debentures –12 –64
237006 SBIC Debentures –11 –92
237007 SBIC Participating Securities –756 –22
237008 SBIC New Market Venture Capital –3
237010 Secondary Market Guarantee –43 –20
237016 ARC Loan Guarantees—ARRA –35 –25
237017 7(a) General Business Loan Guarantees—ARRA –291
237018 Section 504 Certified Development Companies—ARRA –87
237021 7(a) Dealer Floor Plan—ARRA –1
237026 Section 504 Certified Development Companies Debentures—ARRA Ext –34
237028 7(a) Business Loan Guarantees—ARRA Extension –555



237999 Total downward reestimate subsidy budget authority –863 –1,663

Administrative expense data:
3510 Budget authority 148 149 146
3590 Outlays from new authority 148 149 146

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 2014, the Budget proposes $263 million in new budget authority for the Business Loans Program account. This includes $152 million in administrative expenses funding, $107 million in credit subsidy for the Section 504 guaranteed loan program, and $4.6 million in credit subsidy for the direct Microloan Program. Funding for business loan administrative expenses includes support for SBA ONE, a revamped lending platform that will use one set of forms for all 7(a) loans and serve as a one-stop shop for all steps of the lending process.

The Section 7(a) program provides general business credit assistance. The Budget supports $15.65 billion in 7(a) term loans and $1.85 billion for 7(a) revolving lines of credit, which are estimated to support $41.27 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 $17.5 billion. The 2014 Budget proposes to waive fees on all small loans under $150,000 to spur lending in this market. 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 2014, 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 $6 billion in 2014. In addition, the 2014 Budget proposes to reauthorize SBA's 504 Loan Refinancing program, which will help small business lock in low, long-term interest rates on commercial mortgage and equipment debts and free up resources that can be reinvested in their businesses. The Small Business Investment Company (SBIC) program provides credit to support venture capital investments. The Budget proposes a program level of $4 billion for SBIC Debentures and a $25 million program level for direct Microloans.

Object Classification (in millions of dollars)


Identification code 73–1154–0–1–376 2012 actual 2013 CR 2014 est.

Direct obligations:
25.2 Other services from non-Federal sources 148 149 152
41.0 Grants, subsidies, and contributions 2,713 1,289 133



99.9 Total new obligations 2,861 1,438 285

Business Loans Program Account

(Legislative proposal, not subject to PAYGO)

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 73–1154–2–1–376 2012 actual 2013 CR 2014 est.

Guaranteed loan levels supportable by subsidy budget authority:
215027 504 Commercial Real Estate (CRE) Refinance Program 7,500



215999 Total loan guarantee levels 7,500
Guaranteed loan subsidy (in percent):
232027 504 Commercial Real Estate (CRE) Refinance Program 0.00



232999 Weighted average subsidy rate 0.00

Business Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4148–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 42 43 25
0713 Payment of interest to Treasury 6 5 5
0740 Negative subsidy obligations 1
0742 Downward reestimate paid to receipt account 2 4
0743 Interest on downward reestimates 1 1



0900 Total new obligations 51 53 31

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 27 7
1021 Recoveries of prior year unpaid obligations 7 2 2
1023 Unobligated balances applied to repay debt –33 –9 –2



1050 Unobligated balance (total) 1
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 47 53 31



1440 Borrowing authority, mandatory (total) 47 53 31
Spending authority from offsetting collections, mandatory:
1800 Collected 39 35 33
1801 Change in uncollected payments, Federal sources 1
1825 Spending authority from offsetting collections applied to repay debt –30 –35 –33



1850 Spending auth from offsetting collections, mand (total) 10
1900 Financing authority (total) 57 53 31
1930 Total budgetary resources available 58 53 31
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 7

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 63 56 72
3010 Obligations incurred, unexpired accounts 51 53 31
3020 Financing disbursements (gross) –51 –35 –35
3040 Recoveries of prior year unpaid obligations, unexpired –7 –2 –2



3050 Unpaid obligations, end of year 56 72 66
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –11 –12 –12
3070 Change in uncollected pymts, Fed sources, unexpired –1



3090 Uncollected pymts, Fed sources, end of year –12 –12 –12
Memorandum (non-add) entries:
3100 Obligated balance, start of year 52 44 60
3200 Obligated balance, end of year 44 60 54

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 57 53 31
Financing disbursements:
4110 Financing disbursements, gross 51 35 35
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources: Payments from program account –7 –5 –4
4120 Upward reestimate –3 –3
4120 Interest on reestimate –2 –2
4122 Interest on uninvested funds –3 –4 –7
4123 Repayments of principal, net –24 –19 –20
4123 Other income –2 –2



4130 Offsets against gross financing auth and disbursements (total) –39 –35 –33
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –1



4160 Financing authority, net (mandatory) 17 18 –2
4170 Financing disbursements, net (mandatory) 12 2
4180 Financing authority, net (total) 17 18 –2
4190 Financing disbursements, net (total) 12 2

Status of Direct Loans (in millions of dollars)


Identification code 73–4148–0–3–376 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on obligations:
1121 Limitation available from carry-forward 21
1131 Direct loan obligations exempt from limitation 23 43 25
1142 Unobligated direct loan limitation (-) –2



1150 Total direct loan obligations 42 43 25

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 126 144 150
1231 Disbursements: Direct loan disbursements 41 27 28
1251 Repayments: Repayments and prepayments –23 –21 –22



1290 Outstanding, end of year 144 150 156

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.

Balance Sheet (in millions of dollars)


Identification code 73–4148–0–3–376 2011 actual 2012 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 79 42
Investments in US securities:
1106 Receivables, net 7 3
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 126 144
1405 Allowance for subsidy cost (-) –32 –34


1499 Net present value of assets related to direct loans 94 110


1999 Total assets 180 155
LIABILITIES:
Federal liabilities:
2103 Debt 179 155
2105 Other 1


2999 Total liabilities 180 155


4999 Total liabilities and net position 180 155

Business Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4149–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0005 Other Expenses 120 75 75
Credit program obligations:
0711 Default claim payments on principal 2,565 2,789 2,600
0712 Default claim payments on interest 134 20 20
0713 Payment of interest to Treasury 120 100 100
0740 Negative subsidy obligations 27
0742 Downward reestimate paid to receipt account 617 1,503
0743 Interest on downward reestimates 246 161



0791 Direct program activities, subtotal 3,682 4,573 2,747



0900 Total new obligations 3,802 4,648 2,822

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 5,638 4,714 2,924
1023 Unobligated balances applied to repay debt –1,233



1050 Unobligated balance (total) 4,405 4,714 2,924
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 337



1440 Borrowing authority, mandatory (total) 337
Spending authority from offsetting collections, mandatory:
1800 Collected 4,827 2,858 2,172
1801 Change in uncollected payments, Federal sources –34
1825 Spending authority from offsetting collections applied to repay debt –1,019



1850 Spending auth from offsetting collections, mand (total) 3,774 2,858 2,172
1900 Financing authority (total) 4,111 2,858 2,172
1930 Total budgetary resources available 8,516 7,572 5,096
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 4,714 2,924 2,274

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 92 39 1,206
3010 Obligations incurred, unexpired accounts 3,802 4,648 2,822
3020 Financing disbursements (gross) –3,855 –3,481 –2,599



3050 Unpaid obligations, end of year 39 1,206 1,429
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –178 –144 –144
3070 Change in uncollected pymts, Fed sources, unexpired 34



3090 Uncollected pymts, Fed sources, end of year –144 –144 –144
Memorandum (non-add) entries:
3100 Obligated balance, start of year –86 –105 1,062
3200 Obligated balance, end of year –105 1,062 1,285

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 4,111 2,858 2,172
Financing disbursements:
4110 Financing disbursements, gross 3,855 3,481 2,599
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Payments from program account –197 –255 –149
4120 Upward reestimate –2,129 –643
4120 Interest on reestimate –375 –207
4122 Interest on uninvested funds –203 –190 –190
4123 Fees –823 –835 –835
4123 Principal –941 –728 –998
4123 Other –159



4130 Offsets against gross financing auth and disbursements (total) –4,827 –2,858 –2,172
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 34



4160 Financing authority, net (mandatory) –682
4170 Financing disbursements, net (mandatory) –972 623 427
4180 Financing authority, net (total) –682
4190 Financing disbursements, net (total) –972 623 427

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4149–0–3–376 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on commitments:
2111 Limitation on guaranteed loans made by private lenders 36,993 37,493 38,153
2121 Limitation available from carry-forward 10,071
2131 Guaranteed loan commitments exempt from limitation 48,059 63,238 41,274
2142 Uncommitted loan guarantee limitation –36,888 –1,500



2150 Total guaranteed loan commitments 58,235 100,731 77,927
2199 Guaranteed amount of guaranteed loan commitments 23,193 35,286 33,744

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 82,197 87,410 93,613
2231 Disbursements of new guaranteed loans 19,534 20,986 22,871
2251 Repayments and prepayments –11,114 –11,819 –12,658
Adjustments:
2261 Terminations for default that result in loans receivable –3,095 –2,789 –2,600
2263 Terminations for default that result in claim payments –183 –175 –163
2264 Other adjustments, net 71



2290 Outstanding, end of year 87,410 93,613 101,063

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 74,352 79,629 85,966

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year 8,859 8,611 8,360
2331 Disbursements for guaranteed loan claims 2,610 2,521 2,350
2351 Repayments of loans receivable –835 –676 –729
2361 Write-offs of loans receivable –2,159 –2,096 –2,016
2364 Other adjustments, net 136



2390 Outstanding, end of year 8,611 8,360 7,965

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.

Balance Sheet (in millions of dollars)


Identification code 73–4149–0–3–376 2011 actual 2012 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 5,552 4,562
Investments in US securities:
1106 Receivables, net 1,651 843
1206 Non-Federal assets: Receivables, net 51 70
Net value of assets related to post-1991 acquired defaulted guaranteed loans receivable:
1501 Defaulted guaranteed loans receivable, gross 8,859 8,611
1504 Foreclosed property 33 38
1505 Allowance for subsidy cost (-) –6,688 –6,940


1599 Net present value of assets related to defaulted guaranteed loans 2,204 1,709


1999 Total assets 9,458 7,184
LIABILITIES:
Federal liabilities:
2103 Debt 3,729 1,767
2105 Other 907 1,658
Non-Federal liabilities:
2201 Accounts payable 81 33
2204 Liabilities for loan guarantees 4,741 3,726


2999 Total liabilities 9,458 7,184


4999 Total liabilities and net position 9,458 7,184

Business Guaranteed Loan Financing Account

(Legislative proposal, not subject to PAYGO)

Program and Financing (in millions of dollars)


Identification code 73–4149–2–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal –3



0900 Total new obligations –3

Budgetary Resources:
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 48



1850 Spending auth from offsetting collections, mand (total) 48
1900 Financing authority (total) 48
1930 Total budgetary resources available 48
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 51

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts –3
3020 Financing disbursements (gross) –3



3050 Unpaid obligations, end of year –6
Memorandum (non-add) entries:
3200 Obligated balance, end of year –6

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 48
Financing disbursements:
4110 Financing disbursements, gross 3
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4123 Fees –48
4190 Financing disbursements, net (total) –45

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4149–2–3–376 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on commitments:
2111 Limitation on guaranteed loans made by private lenders 7,500



2150 Total guaranteed loan commitments 7,500
2199 Guaranteed amount of guaranteed loan commitments 7,500

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year
2231 Disbursements of new guaranteed loans 2,236
2251 Repayments and prepayments
Adjustments:
2261 Terminations for default that result in loans receivable –3
2263 Terminations for default that result in claim payments



2290 Outstanding, end of year 2,233

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 1,900

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year
2331 Disbursements for guaranteed loan claims 3
2351 Repayments of loans receivable
2361 Write-offs of loans receivable –1



2390 Outstanding, end of year 2

Business Loan Fund Liquidating Account

Program and Financing (in millions of dollars)


Identification code 73–4154–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0005 Guaranteed loan default claims 1 2 1
0006 Interest to UST 4 4 4
0007 Other Expenses 1 1 1



0600 Direct program activities, subtotal 6 7 6



0900 Total new obligations 6 7 6

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 6 12
1022 Capital transfer of unobligated balances to general fund –6 –12
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 2 2



1260 Appropriations, mandatory (total) 2 2 2
Spending authority from offsetting collections, mandatory:
1800 Collected 16 10 4
1820 Capital transfer of spending authority from offsetting collections to general fund –5



1850 Spending auth from offsetting collections, mand (total) 16 5 4
1900 Budget authority (total) 18 7 6
1930 Total budgetary resources available 18 7 6
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 12

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 2 5 5
3010 Obligations incurred, unexpired accounts 6 7 6
3020 Outlays (gross) –3 –7 –6



3050 Unpaid obligations, end of year 5 5 5
Memorandum (non-add) entries:
3100 Obligated balance, start of year 2 5 5
3200 Obligated balance, end of year 5 5 5

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 18 7 6
Outlays, gross:
4100 Outlays from new mandatory authority 3 7 6
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –16 –10 –4
4180 Budget authority, net (total) 2 –3 2
4190 Outlays, net (total) –13 –3 2

Status of Direct Loans (in millions of dollars)


Identification code 73–4154–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 17 11 8
1251 Repayments: Repayments and prepayments –1 –1 –1
1263 Write-offs for default: Direct loans –5 –2 –2



1290 Outstanding, end of year 11 8 5

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4154–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 37 24 13
2251 Repayments and prepayments –12 –10 –8
2261 Adjustments: Terminations for default that result in loans receivable –1 –1 –1



2290 Outstanding, end of year 24 13 4

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 19 10 3

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year 40 27 18
2331 Disbursements for guaranteed loan claims 1 1 1
2351 Repayments of loans receivable –9 –8 –4
2361 Write-offs of loans receivable –7 –2 –2
2364 Other adjustments, net 2



2390 Outstanding, end of year 27 18 13

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.

Balance Sheet (in millions of dollars)


Identification code 73–4154–0–3–376 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 8 16
1206 Non-Federal assets: Receivables, net 3 6
1601 Direct loans, gross 17 11
1603 Allowance for estimated uncollectible loans and interest (-) –2 –1


1699 Value of assets related to direct loans 15 10
1701 Defaulted guaranteed loans, gross 40 27
1703 Allowance for estimated uncollectible loans and interest (-) –21 –20


1799 Value of assets related to loan guarantees 19 7
1901 Other Federal assets: Other assets 7 6


1999 Total assets 52 45
LIABILITIES:
Federal liabilities:
2101 Accounts payable 1
2102 Interest payable 4
2104 Resources payable to Treasury 50 40
2201 Non-Federal liabilities: Accounts payable 1 1


2999 Total liabilities 52 45


4999 Total liabilities and net position 52 45

Object Classification (in millions of dollars)


Identification code 73–4154–0–3–376 2012 actual 2013 CR 2014 est.

Direct obligations:
33.0 Investments and loans 2 3 2
43.0 Interest and dividends 4 4 4



99.9 Total new obligations 6 7 6

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, $191,900,000, to remain 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 $181,900,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, which shall 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 shall be paid to the appropriations for Salaries and Expenses: Provided, That of the funds provided herein, $158,650,000 shall be for major disasters declared pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122(2)), of which $800,000 is for the Office of the Inspector General of the Small Business Administration, $150,650,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, and $7,200,000 is for indirect administrative expenses for the direct loan program: Provided further, That the amount for major disasters under this heading is designated by Congress as being for disaster relief pursuant to section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99–177), as amended.

Note.—A full-year 2013 appropriation for this account was not enacted at the time the budget was prepared; therefore, the budget assumes this account is operating under the Continuing Appropriations Resolution, 2013 (P.L. 112–175). The amounts included for 2013 reflect the annualized level provided by the continuing resolution as well as amounts from P.L. 113–2, the Disaster Relief Appropriations Act, 2013 (no language shown).

Program and Financing (in millions of dollars)


Identification code 73–1152–0–1–453 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 52 455 93
0705 Reestimates of direct loan subsidy 126 24
0706 Interest on reestimates of direct loan subsidy 32 12
0709 Administrative expenses 167 446 192



0900 Total new obligations 377 937 285

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 515 445 471
1001 Discretionary unobligated balance brought fwd, Oct 1 515 445
1021 Recoveries of prior year unpaid obligations 31 31 20



1050 Unobligated balance (total) 546 476 491
Budget authority:
Appropriations, discretionary:
1100 Appropriation 117 117 33
1100 Appropriation-Discretionary, Emergency pursuant to 2011 Budget Control Act, Appropriations Committee-ADMIN 259
1100 Appropriation-Discretionary, Emergency pursuant to 2011 Budget Control Act, Appropriations Committee-SUBSIDY 520
1100 Appropriation-Discretionary, Disaster Relief pursuant to 2011 Budget Control Act, Appropriations Committee 159



1160 Appropriation, discretionary (total) 117 896 192
Appropriations, mandatory:
1200 Appropriation 159 36



1260 Appropriations, mandatory (total) 159 36
1900 Budget authority (total) 276 932 192
1930 Total budgetary resources available 822 1,408 683
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 445 471 398

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 58 20 85
3010 Obligations incurred, unexpired accounts 377 937 285
3020 Outlays (gross) –384 –841 –313
3040 Recoveries of prior year unpaid obligations, unexpired –31 –31 –20



3050 Unpaid obligations, end of year 20 85 37
Memorandum (non-add) entries:
3100 Obligated balance, start of year 58 20 85
3200 Obligated balance, end of year 20 85 37

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 117 896 192
Outlays, gross:
4010 Outlays from new discretionary authority 117 600 192
4011 Outlays from discretionary balances 108 205 121



4020 Outlays, gross (total) 225 805 313
Mandatory:
4090 Budget authority, gross 159 36
Outlays, gross:
4100 Outlays from new mandatory authority 159 36
4180 Budget authority, net (total) 276 932 192
4190 Outlays, net (total) 384 841 313

Summary of Loan Levels, Subsidy Budget Authority and Outlays by Program (in millions of dollars)


Identification code 73–1152–0–1–453 2012 actual 2013 CR 2014 est.

Direct loan levels supportable by subsidy budget authority:
115001 Disaster Assistance Loans 463 4,100 1,100



115999 Total direct loan levels 463 4,100 1,100
Direct loan subsidy (in percent):
132001 Disaster Assistance Loans 11.03 11.11 8.48



132999 Weighted average subsidy rate 11.03 11.11 8.48
Direct loan subsidy budget authority:
133001 Disaster Assistance Loans 52 455 93



133999 Total subsidy budget authority 52 455 93
Direct loan subsidy outlays:
134001 Disaster Assistance Loans 58 428 88



134999 Total subsidy outlays 58 428 88
Direct loan upward reestimates:
135001 Disaster Assistance Loans 156 36
135002 Economic Injury Disaster Loans—Terrorist Attack 2 1



135999 Total upward reestimate budget authority 158 37
Direct loan downward reestimates:
137001 Disaster Assistance Loans –2 –24
137002 Economic Injury Disaster Loans—Terrorist Attack –3



137999 Total downward reestimate budget authority –2 –27

Guaranteed loan levels supportable by subsidy budget authority:
215001 Immediate Disaster Assistance 18



215999 Total loan guarantee levels 18
Guaranteed loan subsidy (in percent):
232001 Immediate Disaster Assistance 0.00 1.94 0.00



232999 Weighted average subsidy rate 0.00 1.94 0.00
Guaranteed loan downward reestimates:

Administrative expense data:
3510 Budget authority 117 117 167
3590 Outlays from new authority 117 117 167

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 2014, the Budget supports $1.1 billion in loans, the ten-year average for such loans, excluding outlying events. The Budget does not request new credit subsidy budget authority (BA), as SBA has sufficient unobligated balances to support estimated 2014 loan approvals. However, the Budget does request $159 million in new BA for administrative expenses related to major disasters (pursuant to a determination under section 102(2) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act) and $33 million for administrative expenses related to non-major disasters. The funding for major disasters will be designated as being for disaster relief under the cap adjustment in section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended.

Object Classification (in millions of dollars)


Identification code 73–1152–0–1–453 2012 actual 2013 CR 2014 est.

Direct obligations:
25.2 Other services from non-Federal sources 167 446 192
41.0 Grants, subsidies, and contributions 210 491 93



99.9 Total new obligations 377 937 285

Disaster Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4150–0–3–453 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0003 Other 9 12 12
Credit program obligations:
0710 Direct loan obligations 463 4,100 1,100
0713 Payment of interest to Treasury 309 350 500
0742 Downward reestimate paid to receipt account 23
0743 Interest on downward reestimates 2 4



0791 Direct program activities, subtotal 774 4,477 1,600



0900 Total new obligations 783 4,489 1,612

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 750 52 1,859
1021 Recoveries of prior year unpaid obligations 228 150 99
1023 Unobligated balances applied to repay debt –976



1050 Unobligated balance (total) 2 202 1,958
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 746 3,672 1,007



1440 Borrowing authority, mandatory (total) 746 3,672 1,007
Spending authority from offsetting collections, mandatory:
1800 Collected 1,151 2,652 1,046
1801 Change in uncollected payments, Federal sources –37
1820 Capital transfer of spending authority from offsetting collections to general fund –178 –500
1825 Spending authority from offsetting collections applied to repay debt –1,027



1850 Spending auth from offsetting collections, mand (total) 87 2,474 546
1900 Financing authority (total) 833 6,146 1,553
1930 Total budgetary resources available 835 6,348 3,511
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 52 1,859 1,899

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 429 181 420
3010 Obligations incurred, unexpired accounts 783 4,489 1,612
3020 Financing disbursements (gross) –803 –4,100 –1,933
3040 Recoveries of prior year unpaid obligations, unexpired –228 –150 –99



3050 Unpaid obligations, end of year 181 420
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –58 –21 –21
3070 Change in uncollected pymts, Fed sources, unexpired 37



3090 Uncollected pymts, Fed sources, end of year –21 –21 –21
Memorandum (non-add) entries:
3100 Obligated balance, start of year 371 160 399
3200 Obligated balance, end of year 160 399 –21

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 833 6,146 1,553
Financing disbursements:
4110 Financing disbursements, gross 803 4,100 1,933
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Payments from program account –58 –428 –88
4120 Upward reestimate –126 –24
4120 Interest on upward reestimate –32 –12
4122 Interest income from Treasury –53 –230 –230
4123 Repayments of principal, net –879 –1,958 –728
4123 Non-Federal sources-Other –3



4130 Offsets against gross financing auth and disbursements (total) –1,151 –2,652 –1,046
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 37



4160 Financing authority, net (mandatory) –281 3,494 507
4170 Financing disbursements, net (mandatory) –348 1,448 887
4180 Financing authority, net (total) –281 3,494 507
4190 Financing disbursements, net (total) –348 1,448 887

Status of Direct Loans (in millions of dollars)


Identification code 73–4150–0–3–453 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on obligations:
1121 Limitation available from carry-forward 4,651 4,188 4,188
1131 Direct loan obligations exempt from limitation 4,100 1,100
1143 Unobligated limitation carried forward (P.L. xx) (-) –4,188 –4,188 –4,188



1150 Total direct loan obligations 463 4,100 1,100

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 7,493 7,210 9,109
1231 Disbursements: Direct loan disbursements 485 2,640 1,933
1251 Repayments: Repayments and prepayments –607 –584 –728
Write-offs for default:
1263 Direct loans –163 –157 –198
1264 Other adjustments, net (+ or -) 2



1290 Outstanding, end of year 7,210 9,109 10,116

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.

Balance Sheet (in millions of dollars)


Identification code 73–4150–0–3–453 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 1,281 222
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 7,493 7,210
1405 Allowance for subsidy cost (-) –1,485 –1,402


1499 Net present value of assets related to direct loans 6,008 5,808


1999 Total assets 7,289 6,030
LIABILITIES:
Federal liabilities:
2103 Debt 7,287 6,028
2105 Other 2 2


2999 Total liabilities 7,289 6,030


4999 Total liabilities and net position 7,289 6,030

Disaster Loans Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4293–0–3–453 2012 actual 2013 CR 2014 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 1
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1 1



1850 Spending auth from offsetting collections, mand (total) 1 1
1900 Financing authority (total) 1 1
1930 Total budgetary resources available 1 2
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 1 2

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 1 1
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Payments from program account –1 –1
4190 Financing disbursements, net (total) –1 –1

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4293–0–3–453 2012 actual 2013 CR 2014 est.

Position with respect to appropriations act limitation on commitments:
2121 Limitation available from carry-forward 75 75 57
2143 Uncommitted limitation carried forward –75 –57 –57



2150 Total guaranteed loan commitments 18
2199 Guaranteed amount of guaranteed loan commitments 15

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 3
2231 Disbursements of new guaranteed loans 18
2251 Repayments and prepayments –15 –1



2290 Outstanding, end of year 3 2

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 3 2

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.

Disaster Loan Fund Liquidating Account

Program and Financing (in millions of dollars)


Identification code 73–4153–0–3–453 2012 actual 2013 CR 2014 est.

Obligations by program activity:
0101 Interest expense to Treasury 1 1
0103 Other Expenses 1



0900 Total new obligations (object class 25.2) 2 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 5 4
1022 Capital transfer of unobligated balances to general fund –5 –4
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 2 1



1260 Appropriations, mandatory (total) 2 2 1
Spending authority from offsetting collections, mandatory:
1800 Collected 2 4 4
1820 Capital transfer of spending authority from offsetting collections to general fund –4 –4



1850 Spending auth from offsetting collections, mand (total) 2
1900 Budget authority (total) 4 2 1
1930 Total budgetary resources available 4 2 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 4

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 2
3010 Obligations incurred, unexpired accounts 2 1



3050 Unpaid obligations, end of year 2 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 2
3200 Obligated balance, end of year 2 3

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 4 2 1
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –2 –4 –4
4180 Budget authority, net (total) 2 –2 –3
4190 Outlays, net (total) –2 –4 –4

Status of Direct Loans (in millions of dollars)


Identification code 73–4153–0–3–453 2012 actual 2013 CR 2014 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 9 7 4
1251 Repayments: Repayments and prepayments –2 –2 –2
1263 Write-offs for default: Direct loans –1



1290 Outstanding, end of year 7 4 2

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.

Balance Sheet (in millions of dollars)


Identification code 73–4153–0–3–453 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 5 4
1601 Direct loans, net 9 7
1603 Allowance for estimated uncollectible loans and interest (-) –1 –1


1699 Value of assets related to direct loans 8 6


1999 Total assets 13 10
LIABILITIES:
2104 Federal liabilities: Resources payable to Treasury 13 10


4999 Total liabilities and net position 13 10

Pollution Control Equipment Fund Liquidating Account

Program and Financing (in millions of dollars)


Identification code 73–4147–0–3–376 2012 actual 2013 CR 2014 est.

Obligations by program activity:
Credit program obligations:
0711 Default claim payments on principal 1



0900 Total new obligations (object class 42.0) 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2 2
1022 Capital transfer of unobligated balances to general fund –2 –2
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 1



1260 Appropriations, mandatory (total) 2 1
1900 Budget authority (total) 2 1
1930 Total budgetary resources available 2 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 2

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 1
3010 Obligations incurred, unexpired accounts 1



3050 Unpaid obligations, end of year 1 1
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1
3200 Obligated balance, end of year 1 1

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 2 1
4180 Budget authority, net (total) 2 1

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4147–0–3–376 2012 actual 2013 CR 2014 est.

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year
Adjustments:
2263 Terminations for default that result in claim payments –1
2264 Other adjustments, net 1



2290 Outstanding, end of year

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year



2390 Outstanding, end of year

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.

Balance Sheet (in millions of dollars)


Identification code 73–4147–0–3–376 2011 actual 2012 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 3 2


1999 Total assets 3 2
LIABILITIES:
2104 Federal liabilities: Resources payable to Treasury 3 2


4999 Total liabilities and net position 3 2

GENERAL FUND RECEIPT ACCOUNTS

(in millions of dollars)


2012 actual 2013 CR 2014 est.

Offsetting receipts from the public:
73–272130 Disaster Loan Program, Downward Reestimates of Subsidies 2 27
73–272210 Business Loan Program, Negative Subsidies 16
73–272230 Business Loan Program, Downward Reestimates of Subsidies 866 1,670



General Fund Offsetting receipts from the public 868 1,697 16

ADMINISTRATIVE PROVISIONS

Administrative Provisions—Small Business Administration

'

(including transfer of funds)

SEC. 530. Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Small Business Administration 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.SEC. 531. (a) Section 1122(b) of the Small Business Jobs Act of 2010 (15 U.S.C. 696 note) is repealed. (b) Subparagraph (C) of section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)), as in effect on September 25, 2012, shall be in effect during the period beginning on the date of enactment of this Act and ending on September 30, 2014.