Page:United States Statutes at Large Volume 118.djvu/622

 118 STAT. 592 PUBLIC LAW 108–217—APR. 5, 2004 ‘‘(i) the term ‘combination financing’ means financing comprised of a loan guaranteed under this subsection and a commercial loan; and ‘‘(ii) the term ‘commercial loan’ means a loan which is part of a combination financing and no portion of which is guaranteed by the Federal Government. ‘‘(B) APPLICABILITY.—This paragraph applies to a loan guar antee obtained by a small business concern under this sub section, if the small business concern also obtains a commercial loan. ‘‘(C) COMMERCIAL LOAN AMOUNT.—In the case of any com bination financing, the amount of the commercial loan which is part of such financing shall not exceed the gross amount of the loan guaranteed under this subsection which is part of such financing. ‘‘(D) COMMERCIAL LOAN PROVISIONS.—The commercial loan obtained by the small business concern— ‘‘(i) may be made by the participating lender that is providing financing under this subsection or by a different lender; ‘‘(ii) may be secured by a senior lien; and ‘‘(iii) may be made by a lender in the Preferred Lenders Program, if applicable. ‘‘(E) COMMERCIAL LOAN FEE.—A one time fee in an amount equal to 0.7 percent of the amount of the commercial loan shall be paid by the lender to the Administration if the commer cial loan has a senior credit position to that of the loan guaran teed under this subsection. Paragraph (23)(B) shall apply to the fee established by this paragraph. ‘‘(F) DEFERRED PARTICIPATION LOAN SECURITY.—A loan guaranteed under this subsection may be secured by a subordi nated lien. ‘‘(G) COMPLETION OF APPLICATION PROCESSING.—The Administrator shall complete processing of an application for combination financing under this paragraph pursuant to the program authorized by this subsection as it was operating on October 1, 2003. ‘‘(H) BUSINESS LOAN ELIGIBILITY.—Any standards pre scribed by the Administrator relating to the eligibility of small business concerns to obtain combination financing under this subsection which are in effect on the date of the enactment of this paragraph shall apply with respect to combination financings made under this paragraph. Any modifications to such standards by the Administrator after such date shall not unreasonably restrict the availability of combination financing under this paragraph relative to the availability of such financing before such modifications.’’. SEC. 5. LOAN GUARANTEE FEES. (a) IN GENERAL.—During the period beginning on the date of the enactment of this section and ending on September 30, 2004, subparagraph (A) of paragraph (23) of subsection (a) of section 7 of the Small Business Act (15 U.S.C. 636(a)(23)(A)) shall be applied as if that subparagraph consisted of the language set forth in subsection (b). (b) LANGUAGE SPECIFIED.—The language referred to in sub section (a) is as follows: Applicability. 15 USC 636 note. Applicability.

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