Page:United States Statutes at Large Volume 124.djvu/2556

 124 STAT. 2530 PUBLIC LAW 111–240—SEPT. 27, 2010 (2) DEFINITION.—In this subsection, the term ‘‘export finance specialist’’ has the meaning given that term in section 22(l) of the Small Business Act, as added by this title. SEC. 1206. INTERNATIONAL TRADE FINANCE PROGRAMS. (a) LOAN LIMITS.— (1) TOTAL AMOUNT OUTSTANDING.—Section 7(a)(3)(B) of the Small Business Act (15 U.S.C. 636(a)(3)(B)) is amended by striking ‘‘$1,750,000, of which not more than $1,250,000’’ and inserting ‘‘$4,500,000 (or if the gross loan amount would exceed $5,000,000), of which not more than $4,000,000’’. (2) PARTICIPATION.—Section 7(a)(2) of the Small Business Act (15 U.S.C. 636(a)(2)) is amended— (A) in subparagraph (A), in the matter preceding clause (i), by striking ‘‘subparagraph (B)’’ and inserting ‘‘subpara- graphs (B), (D), and (E)’’; (B) in subparagraph (D), by striking ‘‘Notwithstanding subparagraph (A), in’’ and inserting ‘‘In’’; and (C) by adding at the end the following: ‘‘(E) PARTICIPATION IN INTERNATIONAL TRADE LOAN.— In an agreement to participate in a loan on a deferred basis under paragraph (16), the participation by the Administration may not exceed 90 percent.’’. (b) WORKING CAPITAL.—Section 7(a)(16)(A) of the Small Busi- ness Act (15 U.S.C. 636(a)(16)(A)) is amended— (1) in the matter preceding clause (i), by striking ‘‘in— ’’ and inserting ‘‘—’’; (2) in clause (i)— (A) by inserting ‘‘in’’ after ‘‘(i)’’; and (B) by striking ‘‘or’’ at the end; (3) in clause (ii)— (A) by inserting ‘‘in’’ after ‘‘(ii)’’; and (B) by striking the period at the end and inserting ‘‘, including any debt that qualifies for refinancing under any other provision of this subsection; or’’; and (4) by adding at the end the following: ‘‘(iii) by providing working capital.’’. (c) COLLATERAL.—Section 7(a)(16)(B) of the Small Business Act (15 U.S.C. 636(a)(16)(B)) is amended— (1) by striking ‘‘Each loan’’ and inserting the following: ‘‘(i) IN GENERAL.—Except as provided in clause (ii), each loan’’; and (2) by adding at the end the following: ‘‘(ii) EXCEPTION.—A loan under this paragraph may 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, if the Administrator determines the lien provides adequate assurance of the payment of the loan.’’. (d) EXPORT WORKING CAPITAL PROGRAM.—Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) in paragraph (2)(D), by striking ‘‘not exceed’’ and inserting ‘‘be’’; and (2) in paragraph (14)— (A) by striking ‘‘(A) The Administration’’ and inserting the following: ‘‘EXPORT WORKING CAPITAL PROGRAM.— ‘‘(A) IN GENERAL.—The Administrator’’;