Page:United States Statutes at Large Volume 102 Part 2.djvu/556

 102 STAT. 1560

Banks and banking.

Banks and banking.

PUBLIC LAW 100-418—AUG. 23, 1988 "(iv) less than 85 per centum of the financing outstanding at the time of disbursement if such financing is a loan under paragraph (16) and exceeds $1,176,470;"; (2) by amending paragraph (3) to read as follows: "(3) No loan shall be made under this subsection— "(A) if the total amount outstanding and committed (by participation or otherwise) to the borrower from the business loan and investment fund established by this Act would exceed $750,000, except as provided in subparagraph (B); "(B) if the total amount outstanding and committed (on a deferred basis) solely for the purposes provided in paragraph (16) to the borrower from the business loan and investment fund established by this Act would exceed $1,000,000, such amount to be in addition to any financing solely for working capital, supplies, or revolving lines of credit for export purposes up to a maximum of $250,000; and "(C) if effected either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate basis if the amount would exceed $350,000."; (3) by adding the following new paragraphs after paragraph (15): "(16XA) The Administration may guarantee loans under this paragraph to assist any eligible small business concern in an industry engaged in or adversely affected by international trade in the financing of the acquisition, construction, renovation, modernization, improvement or expansion of productive facilities or equipment to be used in the UnitcKi States in the production of goods and services involved in international trade, if the Administration determines that the appropriate upgrading of plant and equipment will allow the concern to improve its competitive position. Each such loan shall be secured by a first lien position or first mortgage on the property or equipment financed by the loan. The lender shall agree to sell the loan in the secondary market as authorized in sections 5(f) and 5(g) of this Act within 180 days of the date of disbursement. "(B) A small business concern shall be considered to be engaged in or adversely affected by international trade for purposes of this provision if such concern is, as determined by the Administration in accordance with regulations that it shall develop— "(i) in a position to significantly expand existing export markets or develop new export markets; or "(ii) adversely affected by import competition in that it is— "(I) confronting increased direct competition with foreign firms in the relevant market; and "(II) can demonstrate injury attributable to such competition. "(17) The Administration shall authorize lending institutions and other entities in addition to banks to make loans authorized under this subsection."; and (4) by redesignating the existing paragraph (16) as paragraph (18).

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