S. 3663 · 109th Congress
Small Business International Trade Enhancements Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Small Business International Trade Enhancements Act of 2006 - Amends the Small Business Act to increase: (1) the ceiling on a Small Business Administration (SBA) international trade loan (ITL) guarantee under the Export Working Capital Program from $1.75 million to $2.75 million; (2) the maximum ITL to $3.67 million; and (3) the maximum available for export…
What it does: CRS summary · Introduced in Senate · Jul 14, 2006
Small Business International Trade Enhancements Act of 2006 - Amends the Small Business Act to increase: (1) the ceiling on a Small Business Administration (SBA) international trade loan (ITL) guarantee under the Export Working Capital Program from $1.75 million to $2.75 million; (2) the maximum ITL to $3.67 million; and (3) the maximum available for export working capital, supplies, or financing from $1.25 million to $2 million.
Allows the use of an ITL for working capital.
Allows an ITL to be secured by a second lien position on the property or equipment financed by the loan or on other assets of the small business concern. (Currently a first lien position or first mortgage on the property, equipment, or other business assets is required.)
Directs the SBA Administrator to assign to the Office of International Trade (OIT) one additional full-time international finance specialist to carry out the export promotion efforts in Louisiana, Mississippi, and Alabama. Requires such specialist to be located at the U.S. Export Assistance Center in the New Orleans, Louisiana.
Directs the Administrator to ensure that the number of full-time equivalent OIT employees (international finance specialists) assigned to the district and foreign one-stop shops for U.S. exporters operated by the United States and Foreign Commercial Service is at least the number of such employees (16) so assigned on January 1, 2006.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business International Trade Enhancements Act of 2006
Latest action (Jul 14, 2006): Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S7556)
Policy area: Commerce · Origin: Senate · Introduced: Jul 14, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.