express loan
(34) Export express program.— (A) Definitions .— In this paragraph— (i) the term “export development activity” includes— (I) obtaining a standby letter of credit when required as a bid bond, performance bond, or advance payment guarantee; (II) participation in a trade show that takes place outside the United States; (III) translation of product brochures or catalogues for use in markets outside the United States; (IV) obtaining a general line of credit for export purposes; (V) performing a service contract from buyers located outside the United States; (VI) obtaining transaction-specific financing associated with completing export orders; (VII) purchasing real estate or equipment to be used in the production of goods or services for export; (VIII) providing term loans or other financing to enable a small business concern, including an export trading company and an export management company, to develop a market outside the United States; and (IX) acquiring, constructing, renovating, modernizing, improving, or expanding a production facility or equipment to be used in the United States in the production of goods or services for export; and (ii) the term “express loan” means a loan in which a lender uses to the maximum extent practicable the loan analyses, procedures, and documentation of the lender to provide expedited processing of the loan application. (B) Authority .— The Administrator may guarantee the timely payment of an express loan to a small business concern made for an export development activity. (C) Level of participation.— (i) Maximum amount .— The maximum amount of an express loan guaranteed under this paragraph shall be $500,000. (ii) Percentage .— For an express loan guaranteed under this paragraph, the Administrator shall guarantee— (I) 90 percent of a loan that is not more than $350,000; and (II) 75 percent of a loan that is more than $350,000 and not more than $500,000.