Page:United States Statutes at Large Volume 120.djvu/3301

 120 STAT. 3270

PUBLIC LAW 109–438—DEC. 20, 2006

SEC. 6. INCREASING EXPORTS BY SMALL BUSINESS.

(a) IN GENERAL.—Section 3 of the Export-Import Bank Act of 1945 (12 U.S.C. 635a) is amended by adding at the end the following: ‘‘(f) SMALL BUSINESS DIVISION.— ‘‘(1) ESTABLISHMENT.—There is established a Small Business Division (in this subsection referred to as the ‘Division’) within the Bank in order to— ‘‘(A) carry out the provisions of subparagraphs (E) and (I) of section 2(b)(1) relating to outreach, feedback, product improvement, and transaction advocacy for small business concerns (as defined in section 3(a) of the Small Business Act); ‘‘(B) advise and seek feedback from small business concerns on the opportunities and benefits for small business concerns in the financing products offered by the Bank, with particular emphasis on conducting outreach, enhancing the tailoring of products to small business needs and increasing loans to small business concerns; ‘‘(C) maintain liaison with the Small Business Administration and other departments and agencies in matters affecting small business concerns; and ‘‘(D) provide oversight of the development, implementation, and operation of technology improvements to strengthen small business outreach, including the technology improvement required by section 2(b)(1)(E)(x). ‘‘(2) MANAGEMENT.—The President of the Bank shall appoint an officer, who shall rank not lower than senior vice president and whose sole executive function shall be to manage the Division. The officer shall— ‘‘(A) have substantial recent experience in financing exports by small business concerns; and ‘‘(B) advise the Board, particularly the director appointed under section 3(c)(8)(B) to represent the interests of small business, on matters of interest to, and concern for, small business. ‘‘(g) SMALL BUSINESS SPECIALISTS.— ‘‘(1) DEDICATED PERSONNEL.—The President of the Bank shall ensure that each operating division within the Bank has staff that specializes in processing transactions that primarily benefit small business concerns (as defined in section 3(a) of the Small Business Act). ‘‘(2) RESPONSIBILITIES.—The small business specialists shall be involved in all aspects of processing applications for loans, guarantees, and insurance to support exports by small business concerns, including the approval or disapproval, or staff recommendations of approval or disapproval, as applicable, of such applications. In carrying out these responsibilities, the small business specialists shall consider the unique business requirements of small businesses and shall develop exporter performance criteria tailored to small business exporters. ‘‘(3) APPROVAL AUTHORITY.—In an effort to maximize the speed and efficiency with which the Bank processes transactions primarily benefitting small business concerns, the small business specialists shall be authorized to approve applications for working capital loans and guarantees, and insurance in accordance with policies and procedures established by the

VerDate 14-DEC-2004

12:05 Jul 13, 2007

Jkt 059194

PO 00003

Frm 00073

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL003.109

APPS06

PsN: PUBL003

�