SMALL BUSINESS ADMINISTRATION

Federal Funds

Salaries and Expenses

For necessary expenses, not otherwise provided for, of the Small Business Administration, including hire of passenger motor vehicles as authorized by sections 1343 and 1344 of title 31, United States Code, and not to exceed $3,500 for official reception and representation expenses, [$250,000,000, of which not less than $12,000,000 shall be available for examinations, reviews, and other lender oversight activities] $256,882,000: 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] 2015: 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 $2,000,000 shall be for the Federal and State Technology Partnership Program under section 34 of the Small Business Act (15 U.S.C. 657d)] 2016. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–0100–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Executive direction 71 76 76
0002 Capital Access 84 87 88
0003 Gov. Contracting/ Bus. Development 25 27 27
0004 Entrepreneurial Development 10 14 14
0005 Management & Adminstration 21 23 23
0006 Office of Chief Information Officer 35 38 38
0007 Regional & district offices 100 101 101
0008 Agency wide costs 49 57 59
0009 Non credit programs 178 7
0012 Disaster 276 182 177



0900 Total new obligations 849 612 603

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 83 237 230
1021 Recoveries of prior year unpaid obligations 8



1050 Unobligated balance (total) 91 237 230
Budget authority:
Appropriations, discretionary:
1100 Appropriation 437 250 257
1130 Appropriations permanently reduced –23



1160 Appropriation, discretionary (total) 414 250 257
Spending authority from offsetting collections, discretionary:
1700 Collected 429 191 186
1700 Collected 155 164 160



1750 Spending auth from offsetting collections, disc (total) 584 355 346
1900 Budget authority (total) 998 605 603
1930 Total budgetary resources available 1,089 842 833
Memorandum (non-add) entries:
1940 Unobligated balance expiring –3
1941 Unexpired unobligated balance, end of year 237 230 230

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 434 337 223
3010 Obligations incurred, unexpired accounts 849 612 603
3011 Obligations incurred, expired accounts 10
3020 Outlays (gross) –929 –726 –635
3040 Recoveries of prior year unpaid obligations, unexpired –8
3041 Recoveries of prior year unpaid obligations, expired –19



3050 Unpaid obligations, end of year 337 223 191
Memorandum (non-add) entries:
3100 Obligated balance, start of year 434 337 223
3200 Obligated balance, end of year 337 223 191

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 998 605 603
Outlays, gross:
4010 Outlays from new discretionary authority 629 404 401
4011 Outlays from discretionary balances 300 322 234



4020 Outlays, gross (total) 929 726 635
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4030 Baseline Program [Text] –571 –343 –334
4033 Baseline Program [Text] –16 –12 –12



4040 Offsets against gross budget authority and outlays (total) –587 –355 –346
Additional offsets against gross budget authority only:
4052 Offsetting collections credited to expired accounts 3



4070 Budget authority, net (discretionary) 414 250 257
4080 Outlays, net (discretionary) 342 371 289
4180 Budget authority, net (total) 414 250 257
4190 Outlays, net (total) 342 371 289

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 2015 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.

Object Classification (in millions of dollars)


Identification code 73–0100–0–1–376 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 200 202 204
11.3 Other than full-time permanent 6 8 8
11.5 Other personnel compensation 1 3 3



11.9 Total personnel compensation 207 213 215
12.1 Civilian personnel benefits 60 63 64
21.0 Travel and transportation of persons 5 5 5
23.1 Rental payments to GSA 35 39 42
23.3 Communications, utilities, and miscellaneous charges 8 8 8
24.0 Printing and reproduction 1 1
25.2 Other services from non-Federal sources 84 86 86
25.3 Other purchases of goods and services from Government accounts (Disaster Administrative Expenses) 276 182 177
26.0 Supplies and materials 3 5 3
31.0 Equipment 1 2 1
41.0 Grants, subsidies, and contributions 170 7



99.0 Direct obligations 849 611 602
99.0 Reimbursable obligations 1 1



99.9 Total new obligations 849 612 603

Employment Summary


Identification code 73–0100–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 3,776 3,106 3,106

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, [$19,000,000] $19,400,000. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–0200–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Audit 8 9 10
0002 Investigations 9 9 9
0003 Management policy 2 2 2
0004 General Office/Legal Counsel 1 1 1



0900 Total new obligations 20 21 22

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 7 7 6
Budget authority:
Appropriations, discretionary:
1100 Appropriation 21 19 19
1130 Appropriations permanently reduced –1



1160 Appropriation, discretionary (total) 20 19 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) 21 20 20
1930 Total budgetary resources available 28 27 26
Memorandum (non-add) entries:
1940 Unobligated balance expiring –1
1941 Unexpired unobligated balance, end of year 7 6 4

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



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

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 21 20 20
Outlays, gross:
4010 Outlays from new discretionary authority 15 19 19
4011 Outlays from discretionary balances 5 2 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) 20 19 19
4190 Outlays, net (total) 19 20 21

The 2015 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 2013 actual 2014 est. 2015 est.

Direct obligations:
Personnel compensation:
11.1 Full-time permanent 11 12 12
11.5 Other personnel compensation 1 1 1



11.9 Total personnel compensation 12 13 13
12.1 Civilian personnel benefits 4 4 4
25.2 Other services 3 3 3



99.0 Direct obligations 19 20 20
99.0 Reimbursable obligations 1 1 2



99.9 Total new obligations 20 21 22

Employment Summary


Identification code 73–0200–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 106 112 112

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.), [$8,750,000] $8,455,000, to remain available until expended. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–0300–0–1–376 2013 actual 2014 est. 2015 est.

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

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



1160 Appropriation, discretionary (total) 9 9 8
1930 Total budgetary resources available 10 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 1 2
3010 Obligations incurred, unexpired accounts 9 9 8
3020 Outlays (gross) –9 –8 –7



3050 Unpaid obligations, end of year 1 2 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 1 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 8 8 7
4011 Outlays from discretionary balances 1



4020 Outlays, gross (total) 9 8 7
4180 Budget authority, net (total) 9 9 8
4190 Outlays, net (total) 9 8 7

The 2015 Budget proposes $8.455 million in new budget authority. This appropriation provides funds for operations of the Office of Advocacy to carry out its statutory duties, including those under the Regulatory Flexibility Act. 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 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 6 6 5
12.1 Civilian personnel benefits 2 2 2
25.2 Other services from non-Federal sources 1 1 1



99.9 Total new obligations 9 9 8

Employment Summary


Identification code 73–0300–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 46 46 46

Entrepreneurial Development Programs

For necessary expenses of programs supporting entrepreneurial and small business development as authorized by Public Law 108–447, [$196,165,000] $197,825,000: Provided, That $113,625,000 shall be available to fund grants for performance in fiscal year [2014] 2015 or fiscal year [2015] 2016 as authorized by section 21 of the Small Business Act, to remain available until September 30, [2015] 2016: Provided further, That $20,000,000 shall remain available until September 30, [2015] 2016 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 $8,000,000 shall be available for grants to States for fiscal year 2014 to carry out export programs that assist small business concerns authorized under section 1207 of Public Law 111–240]. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–0400–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0001 Non-Credit Programs 196 198

Budgetary Resources:
Budget authority:
Appropriations, discretionary:
1100 Appropriation 196 198



1160 Appropriation, discretionary (total) 196 198
1930 Total budgetary resources available 196 198

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 88
3010 Obligations incurred, unexpired accounts 196 198
3020 Outlays (gross) –108 –178



3050 Unpaid obligations, end of year 88 108
Memorandum (non-add) entries:
3100 Obligated balance, start of year 88
3200 Obligated balance, end of year 88 108

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 196 198
Outlays, gross:
4010 Outlays from new discretionary authority 108 109
4011 Outlays from discretionary balances 69



4020 Outlays, gross (total) 108 178
4180 Budget authority, net (total) 196 198
4190 Outlays, net (total) 108 178

For 2015, this appropriations account, which was added in FY 2014, supports SBA's core grant programs—Small Business Development Centers, SCORE and Women's Business Centers, as well as various entrepreneurial development initiatives managed by the Office of Entrepreneurial Development. These initiatives include Entrepreneurial Education, which is designed to train and develop small business owners who are poised for growth and 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 and Growth Accelerator initiatives.

Object Classification (in millions of dollars)


Identification code 73–0400–0–1–376 2013 actual 2014 est. 2015 est.

Direct obligations:
11.1 Personnel compensation: Full-time permanent 2 2
12.1 Civilian personnel benefits 1 1
41.0 Grants, subsidies, and contributions 193 195



99.9 Total new obligations 196 198

Employment Summary


Identification code 73–0400–0–1–376 2013 actual 2014 est. 2015 est.

1001 Direct civilian full-time equivalent employment 29 29

Surety Bond Guarantees Revolving Fund

Program and Financing (in millions of dollars)


Identification code 73–4156–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0801 Reimbursable obligations 5 17 17



0900 Total new obligations (object class 42.0) 5 17 17

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 61 73 73
Budget authority:
Spending authority from offsetting collections, discretionary:
1700 Collected 17 17 17



1750 Spending auth from offsetting collections, disc (total) 17 17 17
1900 Budget authority (total) 17 17 17
1930 Total budgetary resources available 78 90 90
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 73 73 73

Change in obligated balance:
Unpaid obligations:
3010 Obligations incurred, unexpired accounts 5 17 17
3020 Outlays (gross) –5 –17 –17

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 17 17 17
Outlays, gross:
4010 Outlays from new discretionary authority 5 17 17
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4033 Non-Federal sources –17 –17 –17
4190 Outlays, net (total) –12

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 2015. Therefore, no new appropriated funds are requested in the Budget.

Balance Sheet (in millions of dollars)


Identification code 73–4156–0–3–376 2012 actual 2013 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 61 73
Investments in US securities:
1106 Receivables, net 2 1


1999 Total assets 63 74
LIABILITIES:
2201 Non-Federal liabilities: Accounts payable 23 31
NET POSITION:
3300 Cumulative results of operations 40 43


4999 Total liabilities and net position 63 74

Business Loans Program Account

(including transfer of funds)

For the cost of direct loans, [$4,600,000] $2,500,000, 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] $45,000,000, 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] 2015 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] 2015 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 2015 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] 2015 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] 2015, 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] $147,726,000, which may be transferred to and merged with the appropriations for Salaries and Expenses. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–1154–0–1–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 7 5 2
0702 Loan guarantee subsidy 378 130 45
0705 Reestimates of direct loan subsidy 2 1
0706 Interest on reestimates of direct loan subsidy 2 3
0707 Reestimates of loan guarantee subsidy 643 223
0708 Interest on reestimates of loan guarantee subsidy 207 79
0709 Administrative expenses 140 152 148



0900 Total new obligations 1,379 593 195

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 77 24 22
1001 Discretionary unobligated balance brought fwd, Oct 1 77 24
1021 Recoveries of prior year unpaid obligations 12 22 10



1050 Unobligated balance (total) 89 46 32
Budget authority:
Appropriations, discretionary:
1100 Appropriation 485 263 196
1130 Appropriations permanently reduced –25



1160 Appropriation, discretionary (total) 460 263 196
Appropriations, mandatory:
1200 Appropriation 854 306



1260 Appropriations, mandatory (total) 854 306
1900 Budget authority (total) 1,314 569 196
1930 Total budgetary resources available 1,403 615 228
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 24 22 33

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 156 228 149
3010 Obligations incurred, unexpired accounts 1,379 593 195
3020 Outlays (gross) –1,279 –650 –249
3040 Recoveries of prior year unpaid obligations, unexpired –12 –22 –10
3041 Recoveries of prior year unpaid obligations, expired –16



3050 Unpaid obligations, end of year 228 149 85
Memorandum (non-add) entries:
3100 Obligated balance, start of year 156 228 149
3200 Obligated balance, end of year 228 149 85

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 460 263 196
Outlays, gross:
4010 Outlays from new discretionary authority 140 181 163
4011 Outlays from discretionary balances 285 163 86



4020 Outlays, gross (total) 425 344 249
Mandatory:
4090 Budget authority, gross 854 306
Outlays, gross:
4100 Outlays from new mandatory authority 854 306
4180 Budget authority, net (total) 1,314 569 196
4190 Outlays, net (total) 1,279 650 249

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


Identification code 73–1154–0–1–376 2013 actual 2014 est. 2015 est.

Direct loan levels supportable by subsidy budget authority:
115001 7(m) Direct Microloans 43 25 25



115999 Total direct loan levels 43 25 25
Direct loan subsidy (in percent):
132001 7(m) Direct Microloans 15.71 18.64 10.12



132999 Weighted average subsidy rate 15.71 18.64 10.12
Direct loan subsidy budget authority:
133001 7(m) Direct Microloans 7 5 3



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



134999 Total subsidy outlays 8 9 2
Direct loan upward reestimates:
135001 7(m) Direct Microloans 3 2
135010 7(m) Direct Microloans — ARRA 1



135999 Total upward reestimate budget authority 4 2
Direct loan downward reestimates:
137001 7(m) Direct Microloans –5 –17
137010 7(m) Direct Microloans — ARRA –5



137999 Total downward reestimate budget authority –5 –22

Guaranteed loan levels supportable by subsidy budget authority:
215002 7(a) General Business Loan Guarantees 15,710 15,667 15,649
215004 Section 504 Certified Development Companies Debentures 5,200 7,500 7,500
215006 SBIC Debentures 2,156 4,000 4,000
215010 Secondary Market Guarantee 4,490 12,000 12,000
215020 7(a) Dealer Floor Plan 141
215024 7(a) Revolvers 34,856 40,432 40,361
215027 504 Commercial Real Estate (CRE) Refinance Program 7,500



215999 Total loan guarantee levels 62,553 79,599 87,010
Guaranteed loan subsidy (in percent):
232002 7(a) General Business Loan Guarantees 1.55 –0.16 –0.15
232004 Section 504 Certified Development Companies Debentures 2.02 1.71 0.60
232006 SBIC Debentures 0.00 0.00 0.00
232010 Secondary Market Guarantee 0.00 0.00 0.00
232020 7(a) Dealer Floor Plan 0.03 0.00 0.00
232024 7(a) Revolvers 0.08 0.06 0.05
232027 504 Commercial Real Estate (CRE) Refinance Program 0.00 0.00 0.00



232999 Weighted average subsidy rate 0.60 0.16 0.05
Guaranteed loan subsidy budget authority:
233002 7(a) General Business Loan Guarantees 244 2
233004 Section 504 Certified Development Companies Debentures 105 128 45
233024 7(a) Revolvers 28



233999 Total subsidy budget authority 377 130 45
Guaranteed loan subsidy outlays:
234002 7(a) General Business Loan Guarantees 177 75 1
234004 Section 504 Certified Development Companies Debentures 47 101 98
234017 7(a) General Business Loan Guarantees—ARRA 1
234018 Section 504 Certified Development Companies—ARRA 1
234024 7(a) Revolvers 39 8
234026 Section 504 Certified Development Companies Debentures—ARRA Ext 4
234028 7(a) Business Loan Guarantees—ARRA Extension 7



234999 Total subsidy outlays 276 184 99
Guaranteed loan upward reestimates:
235002 7(a) General Business Loan Guarantees 161 122
235003 7(a) General Business Loan Guarantees—STAR 3 3
235004 Section 504 Certified Development Companies Debentures 121 8
235006 SBIC Debentures 22 71
235007 SBIC Participating Securities 470 68
235008 SBIC New Market Venture Capital 11
235010 Secondary Market Guarantee 18 25
235015 Secondary Market 504 First Mortgage Guarantees-ARRA 2
235026 Section 504 Certified Development Companies Debentures—ARRA Ext 10
235027 504 Commercial Real Estate (CRE) Refinance Program 31 6



235999 Total upward reestimate budget authority 849 303
Guaranteed loan downward reestimates:
237002 7(a) General Business Loan Guarantees –472 –511
237004 Section 504 Certified Development Companies Debentures –64 –138
237006 SBIC Debentures –92 –40
237007 SBIC Participating Securities –22 –19
237008 SBIC New Market Venture Capital –1
237010 Secondary Market Guarantee –20 –39
237015 Secondary Market 504 First Mortgage Guarantees-ARRA –5
237016 ARC Loan Guarantees—ARRA –25 –21
237017 7(a) General Business Loan Guarantees—ARRA –291 –24
237018 Section 504 Certified Development Companies—ARRA –87 –66
237021 7(a) Dealer Floor Plan—ARRA –1 –1
237026 Section 504 Certified Development Companies Debentures—ARRA Ext –34 –76
237027 504 Commercial Real Estate (CRE) Refinance Program –7
237028 7(a) Business Loan Guarantees—ARRA Extension –555 –113



237999 Total downward reestimate subsidy budget authority –1,663 –1,061

Administrative expense data:
3510 Budget authority 140 152 148
3590 Outlays from new authority 140 152 148

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 2015, the Budget proposes $195.2 million in new budget authority for the Business Loans Program account. This includes $147.7 million in administrative expenses funding, $45 million in credit subsidy for the guaranteed loan program authorized by Section 503 of the Small Business Investment Act of 1958, and $2.5 million in credit subsidy for the direct Microloan Program.

The Section 7(a) program provides general business credit assistance at no subsidy cost to the taxpayer in 2015. 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 $40.36 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 2015 Budget proposes to waive upfront and annual fees on all small business loans of $150,000 or less to spur lending in this market. The Budget also proposes to waive upfront fees on SBA Express loans to veterans between $150,000 and $350,000 and a 50 percent waiver of upfront fees on all non-SBA Express loans to veterans above $150,000. 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 2015, the Budget proposes a program level of $12 billion in such securities.

The guaranteed loan program authorized by Section 503 of the Small Business Investment Act of 1958 is for long-term, fixed-rate financing, and the requested guaranteed loan program level is $7.5 billion in 2015. In addition, the 2015 Budget proposes to reauthorize SBA's 504 Debt Refinancing program with a program level of $7.5 billion, 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 2013 actual 2014 est. 2015 est.

Direct obligations:
25.2 Other services from non-Federal sources 140 152 148
41.0 Grants, subsidies, and contributions 1,239 441 47



99.9 Total new obligations 1,379 593 195

Business Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4148–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0710 Direct loan obligations 43 25 25
0713 Payment of interest to Treasury 6 5 5
0715 Other 1 1 1
0742 Downward reestimate paid to receipt account 4 21
0743 Interest on downward reestimates 1 2



0900 Total new obligations 55 54 31

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 6 28
1021 Recoveries of prior year unpaid obligations 3 3 2
1023 Unobligated balances applied to repay debt –7 –15 –2



1050 Unobligated balance (total) 2 16
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 49 38 31



1440 Borrowing authority, mandatory (total) 49 38 31
Spending authority from offsetting collections, mandatory:
1800 Collected 39 37 31
1801 Change in uncollected payments, Federal sources –2
1825 Spending authority from offsetting collections applied to repay debt –5 –37 –31



1850 Spending auth from offsetting collections, mand (total) 32
1900 Financing authority (total) 81 38 31
1930 Total budgetary resources available 83 54 31
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 28

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 56 54 49
3010 Obligations incurred, unexpired accounts 55 54 31
3020 Financing disbursements (gross) –54 –56 –35
3040 Recoveries of prior year unpaid obligations, unexpired –3 –3 –2



3050 Unpaid obligations, end of year 54 49 43
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –12 –10 –10
3070 Change in uncollected pymts, Fed sources, unexpired 2



3090 Uncollected pymts, Fed sources, end of year –10 –10 –10
Memorandum (non-add) entries:
3100 Obligated balance, start of year 44 44 39
3200 Obligated balance, end of year 44 39 33

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 81 38 31
Financing disbursements:
4110 Financing disbursements, gross 54 56 35
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Federal sources: Payments from program account –8 –7 –2
4120 Upward reestimate –2 –1
4120 Interest on reestimate –2 –3
4122 Interest on uninvested funds –3 –3 –7
4123 Repayments of principal, net –24 –23 –20
4123 Other income –2



4130 Offsets against gross financing auth and disbursements (total) –39 –37 –31
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired 2



4160 Financing authority, net (mandatory) 44 1
4170 Financing disbursements, net (mandatory) 15 19 4
4180 Financing authority, net (total) 44 1
4190 Financing disbursements, net (total) 15 19 4

Status of Direct Loans (in millions of dollars)


Identification code 73–4148–0–3–376 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on obligations:
1121 Limitation available from carry-forward 23
1131 Direct loan obligations exempt from limitation 22 25 25
1143 Unobligated limitation carried forward (P.L. xx) (-) –2



1150 Total direct loan obligations 43 25 25

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 144 164 170
1231 Disbursements: Direct loan disbursements 43 28 28
1251 Repayments: Repayments and prepayments –23 –22 –22



1290 Outstanding, end of year 164 170 176

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 2012 actual 2013 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 42 63
Investments in US securities:
1106 Receivables, net 3 1
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 144 164
1405 Allowance for subsidy cost (-) –34 –18


1499 Net present value of assets related to direct loans 110 146


1999 Total assets 155 210
LIABILITIES:
2103 Federal liabilities: Debt 155 210


4999 Total liabilities and net position 155 210

Business Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4149–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0005 Other Expenses 28 50 75
Credit program obligations:
0711 Default claim payments on principal 2,110 2,200 2,600
0712 Default claim payments on interest 173 175 20
0713 Payment of interest to Treasury 62 70 100
0742 Downward reestimate paid to receipt account 1,503 939
0743 Interest on downward reestimates 161 122



0791 Direct program activities, subtotal 4,009 3,506 2,720



0900 Total new obligations 4,037 3,556 2,795

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 4,713 3,592 2,472
1023 Unobligated balances applied to repay debt –557



1050 Unobligated balance (total) 4,156 3,592 2,472
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 3,398 2,436 2,122
1801 Change in uncollected payments, Federal sources 75



1850 Spending auth from offsetting collections, mand (total) 3,473 2,436 2,122
1900 Financing authority (total) 3,473 2,436 2,122
1930 Total budgetary resources available 7,629 6,028 4,594
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 3,592 2,472 1,799

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 40 40 997
3010 Obligations incurred, unexpired accounts 4,037 3,556 2,795
3020 Financing disbursements (gross) –4,037 –2,599 –2,599



3050 Unpaid obligations, end of year 40 997 1,193
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –144 –219 –219
3070 Change in uncollected pymts, Fed sources, unexpired –75



3090 Uncollected pymts, Fed sources, end of year –219 –219 –219
Memorandum (non-add) entries:
3100 Obligated balance, start of year –104 –179 778
3200 Obligated balance, end of year –179 778 974

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 3,473 2,436 2,122
Financing disbursements:
4110 Financing disbursements, gross 4,037 2,599 2,599
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Payments from program account –276 –184 –99
4120 Upward reestimate –643 –223
4120 Interest on reestimate –207 –79
4122 Interest on uninvested funds –110 –110 –190
4123 Fees –2,162 –1,000 –835
4123 Principal –840 –998



4130 Offsets against gross financing auth and disbursements (total) –3,398 –2,436 –2,122
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –75
4170 Financing disbursements, net (mandatory) 639 163 477
4190 Financing disbursements, net (total) 639 163 477

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4149–0–3–376 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on commitments:
2111 Limitation on guaranteed loans made by private lenders 40,000 39,167 46,649
2121 Limitation available from carry-forward
2131 Guaranteed loan commitments exempt from limitation 35,057 40,432 40,361
2142 Uncommitted loan guarantee limitation –12,504



2150 Total guaranteed loan commitments 62,553 79,599 87,010
2199 Guaranteed amount of guaranteed loan commitments 23,914 33,744 33,744

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 87,410 93,094 100,544
2231 Disbursements of new guaranteed loans 21,660 22,871 22,871
2251 Repayments and prepayments –13,357 –12,658 –12,658
Adjustments:
2261 Terminations for default that result in loans receivable –2,445 –2,600 –2,600
2263 Terminations for default that result in claim payments –143 –163 –163
2264 Other adjustments, net –31



2290 Outstanding, end of year 93,094 100,544 107,994

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 79,054 85,966 85,966

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year 8,611 8,117 7,722
2331 Disbursements for guaranteed loan claims 2,084 2,350 2,350
2351 Repayments of loans receivable –835 –729 –729
2361 Write-offs of loans receivable –1,955 –2,016 –2,016
2364 Other adjustments, net 212



2390 Outstanding, end of year 8,117 7,722 7,327

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 2012 actual 2013 actual

ASSETS:
Federal assets:
1101 Fund balances with Treasury 4,562 3,401
Investments in US securities:
1106 Receivables, net 843 323
1206 Non-Federal assets: Receivables, net 70 82
Net value of assets related to post-1991 acquired defaulted guaranteed loans receivable:
1501 Defaulted guaranteed loans receivable, gross 8,611 8,117
1504 Foreclosed property 38 40
1505 Allowance for subsidy cost (-) –6,940 –6,644


1599 Net present value of assets related to defaulted guaranteed loans 1,709 1,513


1999 Total assets 7,184 5,319
LIABILITIES:
Federal liabilities:
2103 Debt 1,767 1,245
2105 Other 1,658 1,053
Non-Federal liabilities:
2201 Accounts payable 33 34
2204 Liabilities for loan guarantees 3,726 2,987


2999 Total liabilities 7,184 5,319


4999 Total liabilities and net position 7,184 5,319

Business Loan Fund Liquidating Account

Program and Financing (in millions of dollars)


Identification code 73–4154–0–3–376 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0005 Guaranteed loan default claims 3 3
0006 Interest to UST 1 3 3
0007 Other Expenses 2 2



0600 Direct program activities, subtotal 1 8 8



0900 Total new obligations 1 8 8

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 11 20
1022 Capital transfer of unobligated balances to general fund –11 –20
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 2 2



1260 Appropriations, mandatory (total) 2 2 2
Spending authority from offsetting collections, mandatory:
1800 Collected 19 6 6



1850 Spending auth from offsetting collections, mand (total) 19 6 6
1900 Budget authority (total) 21 8 8
1930 Total budgetary resources available 21 8 8
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 20

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 5 3 3
3010 Obligations incurred, unexpired accounts 1 8 8
3020 Outlays (gross) –3 –8 –8



3050 Unpaid obligations, end of year 3 3 3
Memorandum (non-add) entries:
3100 Obligated balance, start of year 5 3 3
3200 Obligated balance, end of year 3 3 3

Budget authority and outlays, net:
Mandatory:
4090 Budget authority, gross 21 8 8
Outlays, gross:
4100 Outlays from new mandatory authority 1 8 8
4101 Outlays from mandatory balances 2



4110 Outlays, gross (total) 3 8 8
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –19 –6 –6
4180 Budget authority, net (total) 2 2 2
4190 Outlays, net (total) –16 2 2

Status of Direct Loans (in millions of dollars)


Identification code 73–4154–0–3–376 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 11 11 8
1251 Repayments: Repayments and prepayments –7 –1 –1
Write-offs for default:
1263 Direct loans –2 –2
1264 Other adjustments, net (+ or -) 7



1290 Outstanding, end of year 11 8 5

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4154–0–3–376 2013 actual 2014 est. 2015 est.

Cumulative balance of guaranteed loans outstanding:
2210 Outstanding, start of year 24 13 4
2251 Repayments and prepayments –10 –8 –1
2261 Adjustments: Terminations for default that result in loans receivable –1 –1



2290 Outstanding, end of year 13 4 3

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 11 3 3

Addendum:
Cumulative balance of defaulted guaranteed loans that result in loans receivable:
2310 Outstanding, start of year 27 10 7
2331 Disbursements for guaranteed loan claims 3 3
2351 Repayments of loans receivable –10 –4 –3
2361 Write-offs of loans receivable –2 –2 –1
2364 Other adjustments, net –5



2390 Outstanding, end of year 10 7 6

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 16 23
1206 Non-Federal assets: Receivables, net 6 4
1601 Direct loans, gross 11 11
1603 Allowance for estimated uncollectible loans and interest (-) –1 –7


1699 Value of assets related to direct loans 10 4
1701 Defaulted guaranteed loans, gross 27 10
1703 Allowance for estimated uncollectible loans and interest (-) –20 –10


1799 Value of assets related to loan guarantees 7
Other Federal assets:
1801 Cash and other monetary assets 4
1901 Other assets 6


1999 Total assets 45 35
LIABILITIES:
Federal liabilities:
2102 Interest payable 4
2104 Resources payable to Treasury 40 32
2201 Non-Federal liabilities: Accounts payable 1 3


2999 Total liabilities 45 35


4999 Total liabilities and net position 45 35

Object Classification (in millions of dollars)


Identification code 73–4154–0–3–376 2013 actual 2014 est. 2015 est.

Direct obligations:
33.0 Investments and loans 1 3 3
43.0 Interest and dividends 5 5



99.9 Total new obligations 1 8 8

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] $186,858,000, 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 [transferred to and merged with] paid to the appropriations for the Office of Inspector General; of which [$181,900,000] $176,858,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, which [may be transferred to and merged with] 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 [may be transferred to and merged with] shall be paid to the appropriations for Salaries and Expenses: Provided, That, of the funds provided herein, $154,636,000 shall be for major disasters declared pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122(2)); $147,187,970 is for direct administrative expenses of loan making and servicing to carry out the direct loan program; and $7,448,030 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. (Financial Services and General Government Appropriations Act, 2014.)

Program and Financing (in millions of dollars)


Identification code 73–1152–0–1–453 2013 actual 2014 est. 2015 est.

Obligations by program activity:
Credit program obligations:
0701 Direct loan subsidy 146 93 136
0705 Reestimates of direct loan subsidy 24 35
0706 Interest on reestimates of direct loan subsidy 12 4
0709 Administrative expenses 427 192 187



0900 Total new obligations 609 324 323

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 444 731 657
1001 Discretionary unobligated balance brought fwd, Oct 1 444 731
1021 Recoveries of prior year unpaid obligations 9 20 20



1050 Unobligated balance (total) 453 751 677
Budget authority:
Appropriations, discretionary:
1100 Appropriation 117 192 32
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 155
1130 Appropriations permanently reduced –45



1160 Appropriation, discretionary (total) 851 192 187
Appropriations, mandatory:
1200 Appropriation 36 38



1260 Appropriations, mandatory (total) 36 38
1900 Budget authority (total) 887 230 187
1930 Total budgetary resources available 1,340 981 864
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 731 657 541

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 21 67 41
3010 Obligations incurred, unexpired accounts 609 324 323
3020 Outlays (gross) –554 –330 –315
3040 Recoveries of prior year unpaid obligations, unexpired –9 –20 –20



3050 Unpaid obligations, end of year 67 41 29
Memorandum (non-add) entries:
3100 Obligated balance, start of year 21 67 41
3200 Obligated balance, end of year 67 41 29

Budget authority and outlays, net:
Discretionary:
4000 Budget authority, gross 851 192 187
Outlays, gross:
4010 Outlays from new discretionary authority 395 192 187
4011 Outlays from discretionary balances 123 100 128



4020 Outlays, gross (total) 518 292 315
Mandatory:
4090 Budget authority, gross 36 38
Outlays, gross:
4100 Outlays from new mandatory authority 36 38
4180 Budget authority, net (total) 887 230 187
4190 Outlays, net (total) 554 330 315

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


Identification code 73–1152–0–1–453 2013 actual 2014 est. 2015 est.

Direct loan levels supportable by subsidy budget authority:
115001 Disaster Assistance Loans 1,317 1,100 1,100



115999 Total direct loan levels 1,317 1,100 1,100
Direct loan subsidy (in percent):
132001 Disaster Assistance Loans 11.11 8.48 12.37



132999 Weighted average subsidy rate 11.11 8.48 12.37
Direct loan subsidy budget authority:
133001 Disaster Assistance Loans 146 93 136



133999 Total subsidy budget authority 146 93 136
Direct loan subsidy outlays:
134001 Disaster Assistance Loans 91 50 88



134999 Total subsidy outlays 91 50 88
Direct loan upward reestimates:
135001 Disaster Assistance Loans 36 38
135002 Economic Injury Disaster Loans—Terrorist Attack 1



135999 Total upward reestimate budget authority 37 38
Direct loan downward reestimates:
137001 Disaster Assistance Loans –24 –37
137002 Economic Injury Disaster Loans—Terrorist Attack –3 –3



137999 Total downward reestimate budget authority –27 –40

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 0.00 1.93



232999 Weighted average subsidy rate 0.00 0.00 1.93
Guaranteed loan downward reestimates:

Administrative expense data:
3510 Budget authority 357 192 187
3590 Outlays from new authority 357 192 187

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 2015, 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 2015 loan approvals. However, the Budget does request $154.6 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 $32.2 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 2013 actual 2014 est. 2015 est.

Direct obligations:
25.2 Other services from non-Federal sources 427 192 187
41.0 Grants, subsidies, and contributions 182 132 136



99.9 Total new obligations 609 324 323

Disaster Direct Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4150–0–3–453 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0003 Other 11 12 12
Credit program obligations:
0710 Direct loan obligations 1,317 1,100 1,100
0713 Payment of interest to Treasury 295 500 500
0742 Downward reestimate paid to receipt account 23 30
0743 Interest on downward reestimates 4 10



0791 Direct program activities, subtotal 1,639 1,640 1,600



0900 Total new obligations 1,650 1,652 1,612

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 50 517 557
1021 Recoveries of prior year unpaid obligations 79 99 99
1023 Unobligated balances applied to repay debt –32



1050 Unobligated balance (total) 97 616 656
Financing authority:
Borrowing authority, mandatory:
1400 Borrowing authority 1,471 1,047 1,007



1440 Borrowing authority, mandatory (total) 1,471 1,047 1,007
Spending authority from offsetting collections, mandatory:
1800 Collected 1,103 1,046 1,046
1801 Change in uncollected payments, Federal sources 47
1820 Capital transfer of spending authority from offsetting collections to general fund –500 –500
1825 Spending authority from offsetting collections applied to repay debt –551



1850 Spending auth from offsetting collections, mand (total) 599 546 546
1900 Financing authority (total) 2,070 1,593 1,553
1930 Total budgetary resources available 2,167 2,209 2,209
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 517 557 597

Change in obligated balance:
Unpaid obligations:
3000 Unpaid obligations, brought forward, Oct 1 182 607 227
3010 Obligations incurred, unexpired accounts 1,650 1,652 1,612
3020 Financing disbursements (gross) –1,146 –1,933 –1,740
3040 Recoveries of prior year unpaid obligations, unexpired –79 –99 –99



3050 Unpaid obligations, end of year 607 227
Uncollected payments:
3060 Uncollected pymts, Fed sources, brought forward, Oct 1 –21 –68 –68
3070 Change in uncollected pymts, Fed sources, unexpired –47



3090 Uncollected pymts, Fed sources, end of year –68 –68 –68
Memorandum (non-add) entries:
3100 Obligated balance, start of year 161 539 159
3200 Obligated balance, end of year 539 159 –68

Financing authority and disbursements, net:
Mandatory:
4090 Financing authority, gross 2,070 1,593 1,553
Financing disbursements:
4110 Financing disbursements, gross 1,146 1,933 1,740
Offsets against gross financing authority and disbursements:
Offsetting collections (collected) from:
4120 Payments from program account –91 –88 –88
4120 Upward reestimate –24
4120 Interest on upward reestimate –12
4122 Interest income from Treasury –54 –230 –230
4123 Repayments of principal, net –922 –728 –728



4130 Offsets against gross financing auth and disbursements (total) –1,103 –1,046 –1,046
Additional offsets against financing authority only (total):
4140 Change in uncollected pymts, Fed sources, unexpired –47



4160 Financing authority, net (mandatory) 920 547 507
4170 Financing disbursements, net (mandatory) 43 887 694
4180 Financing authority, net (total) 920 547 507
4190 Financing disbursements, net (total) 43 887 694

Status of Direct Loans (in millions of dollars)


Identification code 73–4150–0–3–453 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on obligations:
1121 Limitation available from carry-forward 4,188 4,188 4,188
1131 Direct loan obligations exempt from limitation 1,317 1,100 1,100
1143 Unobligated limitation carried forward (P.L. xx) (-) –4,188 –4,188 –4,188



1150 Total direct loan obligations 1,317 1,100 1,100

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 7,210 7,206 7,122
1231 Disbursements: Direct loan disbursements 816 704 1,040
1251 Repayments: Repayments and prepayments –650 –614 –600
Write-offs for default:
1263 Direct loans –174 –174 –172
1264 Other adjustments, net (+ or -) 4



1290 Outstanding, end of year 7,206 7,122 7,390

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 222 836
Net value of assets related to post-1991 direct loans receivable:
1401 Direct loans receivable, gross 7,210 7,206
1405 Allowance for subsidy cost (-) –1,402 –1,344


1499 Net present value of assets related to direct loans 5,808 5,862


1999 Total assets 6,030 6,698
LIABILITIES:
Federal liabilities:
2103 Debt 6,028 6,696
2105 Other 2 2


2999 Total liabilities 6,030 6,698


4999 Total liabilities and net position 6,030 6,698

Disaster Loans Guaranteed Loan Financing Account

Program and Financing (in millions of dollars)


Identification code 73–4293–0–3–453 2013 actual 2014 est. 2015 est.

Budgetary Resources:
Financing authority:
Spending authority from offsetting collections, mandatory:
1800 Collected 1



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

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

Status of Guaranteed Loans (in millions of dollars)


Identification code 73–4293–0–3–453 2013 actual 2014 est. 2015 est.

Position with respect to appropriations act limitation on commitments:
2121 Limitation available from carry-forward 75 75 75
2143 Uncommitted limitation carried forward –75 –75 –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
2231 Disbursements of new guaranteed loans 18
2251 Repayments and prepayments –15



2290 Outstanding, end of year 3

Memorandum:
2299 Guaranteed amount of guaranteed loans outstanding, end of year 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 2013 actual 2014 est. 2015 est.

Obligations by program activity:
0101 Interest expense to Treasury 4 1
0103 Other Expenses 3



0900 Total new obligations (object class 25.2) 7 1

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 4 3
1022 Capital transfer of unobligated balances to general fund –4 –3
Budget authority:
Appropriations, mandatory:
1200 Appropriation 2 2 1



1260 Appropriations, mandatory (total) 2 2 1
Spending authority from offsetting collections, mandatory:
1800 Collected 1 5 4
1820 Capital transfer of spending authority from offsetting collections to general fund –4



1850 Spending auth from offsetting collections, mand (total) 1 5
1900 Budget authority (total) 3 7 1
1930 Total budgetary resources available 3 7 1
Memorandum (non-add) entries:
1941 Unexpired unobligated balance, end of year 3

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



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 3 7 1
Outlays, gross:
4100 Outlays from new mandatory authority 5
Offsets against gross budget authority and outlays:
Offsetting collections (collected) from:
4123 Non-Federal sources –1 –5 –4
4180 Budget authority, net (total) 2 2 –3
4190 Outlays, net (total) –1 –4

Status of Direct Loans (in millions of dollars)


Identification code 73–4153–0–3–453 2013 actual 2014 est. 2015 est.

Cumulative balance of direct loans outstanding:
1210 Outstanding, start of year 7 5 3
1251 Repayments: Repayments and prepayments –1 –2 –2
1263 Write-offs for default: Direct loans –1



1290 Outstanding, end of year 5 3 1

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 2012 actual 2013 actual

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


1699 Value of assets related to direct loans 6 4


1999 Total assets 10 8
LIABILITIES:
2104 Federal liabilities: Resources payable to Treasury 10 8


4999 Total liabilities and net position 10 8

Pollution Control Equipment Fund Liquidating Account

Program and Financing (in millions of dollars)


Identification code 73–4147–0–3–376 2013 actual 2014 est. 2015 est.

Budgetary Resources:
Unobligated balance:
1000 Unobligated balance brought forward, Oct 1 2 1
1022 Capital transfer of unobligated balances to general fund –2 –1
Budget authority:
Appropriations, mandatory:
1200 Appropriation 1 1 1
1239 Appropriations substituted for borrowing authority –1 –1



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

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

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 2012 actual 2013 actual

ASSETS:
1101 Federal assets: Fund balances with Treasury 2 1


1999 Total assets 2 1
LIABILITIES:
2104 Federal liabilities: Resources payable to Treasury 2 1


4999 Total liabilities and net position 2 1

GENERAL FUND RECEIPT ACCOUNTS

(in millions of dollars)


2013 actual 2014 est. 2015 est.

Offsetting receipts from the public:
73–272130 Disaster Loan Program, Downward Reestimates of Subsidies 27 40
73–272230 Business Loan Program, Downward Reestimates of Subsidies 1,670 1,084



General Fund Offsetting receipts from the public 1,697 1,124

ADMINISTRATIVE PROVISIONS

Administrative Provisions—Small Business Administration

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(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 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.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 fiscal year 2015. (Financial Services and General Government Appropriations Act, 2014.)