Summary: S.738 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for S.738. Bill summaries are authored by CRS.

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Introduced in Senate (03/01/2007)

Small Business International Trade Enhancements Act of 2007 - Amends the Small Business Act to establish an Associate Administrator for International Trade as the head of the Office of International Trade of the Small Business Administration (SBA), who shall be responsible for international trade policy. Grants the SBA Administrator the authority to appoint additional Associate Administrators.

Requires United States Export Assistance Centers (export centers/one-stop shops) to aid the Office in maintaining a trade distribution network for trade promotion and trade assistance for small businesses. Requires the Office to establish annual goals to enhance the export capabilities of small businesses and small manufacturers to compete against foreign entities.

Directs the Office, in order to provide small businesses access to certain export financing programs, to appoint at least one trade financial specialist within the SBA to oversee international loan programs and assist SBA employees with trade finance issues.

Directs the SBA Administrator to ensure that the number of full-time equivalent Office employees assigned to one-stop shops for U.S. exporters is at least the number that were assigned on January 1, 2003.

Increases: (1) the total outstanding amount of an international trade loan guaranteed by the SBA under the Export Working Capital Program; (2) the maximum amount of an international trade loan; and (3) the maximum amount available for export working capital, supplies, or financing. Allows such loan 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.)