SCHEDULE A.-Employment size standards pursuant to § 103.4 (a) (3)—Con. 1 The total number of employees listed for each industry includes all employees of affiliates. 2 The abbreviation n. e. c. means not elsewhere classified. [F. R. Doc. 56-9990; Field, Dec. 5, 1956; 8:50 a. m.] Mr. BARNES. The second change is found in section 103 (c). This section contains the revolving fund procedures presently included in the Small Business Act, and increases the total amount of the authorizations of our programs by $100 million more in bill 7474 than it is in bill 6645. My comment is that in arriving at the estimate of the size of the revolving fund, which should be authorized by new legislation, we were guided largely by our past experience, and as we anticipated, it might be projected into the future. As stated earlier, our business-loan applications for the current year have averaged 569 per month. A projection of an application rate of 600 business-loan applications per month would require a revolving fund of about $375 million. Since the month of March reached a peak of 702, we also projected an average of 700 applications per month, with the resulting required total of $425 million. While we are not able to predict the small-business situation and its demands upon SBA for loans for many years in the future, it would appear reasonable to assume that an average of 700 applications per month for a period of several years might represent a reasonable base for purposes of estimating. To give us a further reserve factor, we increased the total to $450 million to represent the maximum amount of business loans outstanding at any one time under the new authority. Incidentally, I might add that someplace in that general area, we expect the fund to revolve in fact without requiring additional appropriation. As to the exact place, we cannot estimate, however. With respect to disaster loans, the present statutory authority is $125 million, and it did not appear necessary to recommend a change in this amount. As of April 30, our net cumulative charges against this authorization was $45,681,630, leaving an available balance of $79,318,370. During the current year, through April 30, our approvals (SBA share) amounted to $9,471,000. |