The Resource Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009, [William B. Shear], (electronic resource)

Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009, [William B. Shear], (electronic resource)

Label
Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009
Title
Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009
Statement of responsibility
[William B. Shear]
Title variation
  • Implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009
  • SBA's economic stimulus provisions
  • Small Business Administration's economic stimulus provisions
Creator
Contributor
Subject
Language
eng
Summary
  • Under the American Recovery and Reinvestment Act of 2009 (ARRA), Congress required the Small Business Administration (SBA) to implement a total of eight administrative provisions to help facilitate small business lending and enhance liquidity in the secondary markets. These administrative provisions include (1) temporarily requiring SBA to reduce or eliminate certain fees on 7(a) and 504 loans; (2) temporarily increasing the maximum 7(a) guarantee from 85 percent to 90 percent; and (3) implementing provisions designed specifically to facilitate secondary markets, such as extending existing guarantees in the 504 program and making loans to systemically important brokerdealers that operate in the 7(a) secondary market. Further, ARRA established deadlines for SBA to issue regulations that implement certain administrative provisions, such as those pertaining to facilitating secondary market activities. Specifically, ARRA required SBA to issue regulations extending the guarantee related to the 504 program within 15 days after enactment (March 4, 2009) and for making loans to systemically important broker-dealers within 30 days after enactment (March 19, 2009). ARRA also mandates that we report within 60 days after the date of enactment, April 17, 2009, on SBA's initial efforts to comply with these provisions. In response, this report (1) summarizes key activities undertaken by the Administrator of SBA to implement the administrative provisions including establishment of project plans with timelines for fulfilling responsibilities, and (2) analyze whether the Administrator is accomplishing the purpose of increasing liquidity in the secondary markets for SBA loans. Because SBA's efforts are still in their early stages, we agreed with the staffs of the House and Senate Committees on Small Business to focus our work on four key administrative provisions for the purposes of this report. These four provisions are eliminating or reducing fees on 7(a) and 504 loans
  • Ensure sound loan underwriting and thereby limit SBA's potential exposure, it could also lessen their willingness to participate and thereby fail to facilitate secondary market activity as ARRA intended. SBA officials and trade groups we contacted also said that ARRA's array of requirements may also place strains on the agency's staff resources, and our previous work has also concluded that limited resources and pending retirements could affect its capacity to implement programs such as those specified in ARRA. To address these and other challenges, SBA has established an intra-agency process to implement ARRA's provisions, including the appointment of relevant project teams, and indicated it has consulted with Treasury and Federal Reserve officials on its responsibilities. According to SBA, the draft rules for the secondary market provisions are now undergoing internal SBA review, and those rules are expected to be sent to the Office of Management and Budget (OMB) for its review and finalized by June 2009
Member of
Cataloging source
ProQuest
http://bibfra.me/vocab/lite/collectionName
ProQuest U.S. Congressional Research Digital Collection
http://library.link/vocab/creatorName
Shear, William B
Government publication
federal national government publication
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
United States
http://library.link/vocab/subjectName
  • United States.
  • United States
  • Economic stabilization
  • Small business
Label
Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009, [William B. Shear], (electronic resource)
Instantiates
Publication
Antecedent source
mixed
Bibliography note
Includes bibliographical references
Color
black and white
Dimensions
24 cm.
Dimensions
unknown
Extent
15 p.
File format
one file format
Form of item
electronic
Level of compression
mixed
Other physical details
digital, PDF file
Quality assurance targets
present
Reformatting quality
preservation
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
cis2007806644
System details
System requirements: PDF reader software
Label
Small Business Administration's implementation of administrative provisions in the American Recovery and Reinvestment Act of 2009, [William B. Shear], (electronic resource)
Publication
Antecedent source
mixed
Bibliography note
Includes bibliographical references
Color
black and white
Dimensions
24 cm.
Dimensions
unknown
Extent
15 p.
File format
one file format
Form of item
electronic
Level of compression
mixed
Other physical details
digital, PDF file
Quality assurance targets
present
Reformatting quality
preservation
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
cis2007806644
System details
System requirements: PDF reader software

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