Disadvantaged Business Enterprises_Short Term Lending Program, $8,000,000 total funding
Purpose of this program:
To enhance and further the opportunity of Disadvantaged Business Enterprises (DBEs) to obtain accounts receivable financing for the performance of transportation-related contracts emanating from the DOT, its grantees, recipients, their contractors and subcontractors.
20.905 DISADVANTAGED BUSINESS ENTERPRISES_SHORT TERM LENDING PROGRAM
(Short Term Lending Program)
FEDERAL AGENCY
OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION
Public Law 97-449, 49 U.S.C. 332.
OBJECTIVES
To enhance and further the opportunity of Disadvantaged Business Enterprises (DBEs) to obtain accounts receivable financing for the performance of transportation-related contracts emanating from the DOT, its grantees, recipients, their contractors and subcontractors.
TYPES OF ASSISTANCE
Direct Loans.
USES AND USE RESTRICTIONS
The lines of credit are issued in support of transportation related contracts. Transportation related means a contract for the maintenance, rehabilitation, restructuring, improvement, or revitalization of any of the Nation's modes of transportation with any public or commercial provider of transportation or any Federal, State or local transportation agency.
Applicant Eligibility
The recipient of a line of credit must be a certified DBE, minority-owned business enterprise or women-owned business enterprise. These certifications must be performed under DOT guidelines, 49 CFR Part 26. All firms certified by the Small Business Administration as 8(a) firms, HUBZONE Empowerment elgible, or Disabled Veterans are eligible to participate in the Lending program. The applicant must be in business for 2-3 years. This program is not for start-up businesses.
Beneficiary Eligibility
Minority, women-owned and disadvantaged business enterprises.
Credentials/Documentation
Certification letter from the recipient agencies must be current.
Preapplication Coordination
Information and consultation is available at the Office of Small and Disadvantaged Business Utilization (OSDBU); however applicants are encouraged to get the application information on the loan program from the OSDBU webpage. Also, applicants can request technical assistance from the nearest Small Business Development Center. Telephone: (800) 532-1169 or (202) 366-2852. This program is excluded from coverage under E.O. 12372.
Application Procedure
Applications are submitted directly to one of the participating banks. Applicants may obtain a copy of the application and identify the bank servicing each region on the OSDBU internet site at: http://osdbuweb.dot.gov or by contacting the OSDBU or the participating bank.
Award Procedure
All lines of credit are approved through separate decisions by the bank and by DOT and are administered by the bank.
Deadlines
Not applicable.
Range of Approval/Disapproval Time
OSDBU staff performs completeness review within 3 to 5 days of receipt of application. Decisions are made within 30 to 60 days from the time the application is submitted.
Appeals
Not applicable.
Renewals
DBEs can apply for renewal of existing lines of credit. Renewals and increases in in lines of credit are encouraged. The maximum length in the program is 5 years.
Formula and Matching Requirements
Not applicable.
Length and Time Phasing of Assistance
Lines of credit are generally approved for a one year period.
Reports
Monthly, internal OSDBU reports; reports to the Secretary of Transportation on all line of credit approvals and loan readiness approvals.
Audits
DOT has the right to audit its accounts with the banks.
Records
OSDBU maintains records of all applicant files, such as approvals, pending review, loan readiness, denials, etc. All line of credit approvals will be maintained for 7 years and non- approvals will be maintained for 3 years.
Account Identification
69-0102-0-1-407.
Obligations
(Loans) FY 06 not available; FY 07 est not available; and FY 08 est not available.
Range and Average of Financial Assistance
The maximum line of credit is $500,000, and there is no minimum amount.
PROGRAM ACCOMPLISHMENTS
During fiscal year 2005, 18 applications were approved.
REGULATIONS, GUIDELINES, AND LITERATURE
Public Law 97- 449, 49 U.S.C. 332.
Regional or Local Office
Not applicable.
Headquarters Office
Office of Small and Disadvantaged Business Utilization, S-40, Office of the Secretary, Department of Transportation, 400 Seventh Street, SW., Washington, DC 20590. Telephone: (202) 366-2852; toll-free (800) 532-1169.
Web Site Address
http://www.osdbuweb.dot.gov
RELATED PROGRAMS
59.006, 8(a) Business Development Program; 59.043, Women's Business Ownership Assistance.
EXAMPLES OF FUNDED PROJECTS
Not applicable.
CRITERIA FOR SELECTING PROPOSALS
Not applicable.
To enhance and further the opportunity of Disadvantaged Business Enterprises (DBEs) to obtain accounts receivable financing for the performance of transportation-related contracts emanating from the DOT, its grantees, recipients, their contractors and subcontractors.
20.905 DISADVANTAGED BUSINESS ENTERPRISES_SHORT TERM LENDING PROGRAM
(Short Term Lending Program)
FEDERAL AGENCY
OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION
Public Law 97-449, 49 U.S.C. 332.
OBJECTIVES
To enhance and further the opportunity of Disadvantaged Business Enterprises (DBEs) to obtain accounts receivable financing for the performance of transportation-related contracts emanating from the DOT, its grantees, recipients, their contractors and subcontractors.
TYPES OF ASSISTANCE
Direct Loans.
USES AND USE RESTRICTIONS
The lines of credit are issued in support of transportation related contracts. Transportation related means a contract for the maintenance, rehabilitation, restructuring, improvement, or revitalization of any of the Nation's modes of transportation with any public or commercial provider of transportation or any Federal, State or local transportation agency.
Applicant Eligibility
The recipient of a line of credit must be a certified DBE, minority-owned business enterprise or women-owned business enterprise. These certifications must be performed under DOT guidelines, 49 CFR Part 26. All firms certified by the Small Business Administration as 8(a) firms, HUBZONE Empowerment elgible, or Disabled Veterans are eligible to participate in the Lending program. The applicant must be in business for 2-3 years. This program is not for start-up businesses.
Beneficiary Eligibility
Minority, women-owned and disadvantaged business enterprises.
Credentials/Documentation
Certification letter from the recipient agencies must be current.
Preapplication Coordination
Information and consultation is available at the Office of Small and Disadvantaged Business Utilization (OSDBU); however applicants are encouraged to get the application information on the loan program from the OSDBU webpage. Also, applicants can request technical assistance from the nearest Small Business Development Center. Telephone: (800) 532-1169 or (202) 366-2852. This program is excluded from coverage under E.O. 12372.
Application Procedure
Applications are submitted directly to one of the participating banks. Applicants may obtain a copy of the application and identify the bank servicing each region on the OSDBU internet site at: http://osdbuweb.dot.gov or by contacting the OSDBU or the participating bank.
Award Procedure
All lines of credit are approved through separate decisions by the bank and by DOT and are administered by the bank.
Deadlines
Not applicable.
Range of Approval/Disapproval Time
OSDBU staff performs completeness review within 3 to 5 days of receipt of application. Decisions are made within 30 to 60 days from the time the application is submitted.
Appeals
Not applicable.
Renewals
DBEs can apply for renewal of existing lines of credit. Renewals and increases in in lines of credit are encouraged. The maximum length in the program is 5 years.
Formula and Matching Requirements
Not applicable.
Length and Time Phasing of Assistance
Lines of credit are generally approved for a one year period.
Reports
Monthly, internal OSDBU reports; reports to the Secretary of Transportation on all line of credit approvals and loan readiness approvals.
Audits
DOT has the right to audit its accounts with the banks.
Records
OSDBU maintains records of all applicant files, such as approvals, pending review, loan readiness, denials, etc. All line of credit approvals will be maintained for 7 years and non- approvals will be maintained for 3 years.
Account Identification
69-0102-0-1-407.
Obligations
(Loans) FY 06 not available; FY 07 est not available; and FY 08 est not available.
Range and Average of Financial Assistance
The maximum line of credit is $500,000, and there is no minimum amount.
PROGRAM ACCOMPLISHMENTS
During fiscal year 2005, 18 applications were approved.
REGULATIONS, GUIDELINES, AND LITERATURE
Public Law 97- 449, 49 U.S.C. 332.
Regional or Local Office
Not applicable.
Headquarters Office
Office of Small and Disadvantaged Business Utilization, S-40, Office of the Secretary, Department of Transportation, 400 Seventh Street, SW., Washington, DC 20590. Telephone: (202) 366-2852; toll-free (800) 532-1169.
Web Site Address
http://www.osdbuweb.dot.gov
RELATED PROGRAMS
59.006, 8(a) Business Development Program; 59.043, Women's Business Ownership Assistance.
EXAMPLES OF FUNDED PROJECTS
Not applicable.
CRITERIA FOR SELECTING PROPOSALS
Not applicable.
Labels: business grant, business grant for women, business grants for minority, grants for business women, grants for women, small business grant
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