Pilot program to expand focus of Regional Export Promotion Program on small businesses

(a) In general Subsection (m) of section 2 of the Export-Import Bank Act of 1945, as added by section 2, is further amended by adding at the end the following: (3) Pilot program to expand focus of Program on small businesses (A) In general The Bank shall implement a pilot program to expand the Program to increase the footprint of the Bank in regions with high concentrations of small business concerns. (B) Priority for certain entities In selecting new partners for the Program under the pilot program required by subparagraph (A), the Bank shall prioritize entering into agreements with— (i) State and local economic development agencies serving HUBZones (as defined in section 31(b) of the Small Business Act (15 U.S.C. 657a(b))); (ii) community development financial institutions (as defined in section 103 of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702)); (iii) minority depository institutions (as defined in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Public Law 101–73; 12 U.S.C. 1463 note)); (iv) local chambers of commerce; and (v) local community banks and credit unions. (C) Assistance Under the pilot program required by subparagraph (A), the Bank shall provide— (i) specialized training and marketing collateral; (ii) short-term export credit insurance products specifically designed for small business accounts; and (iii) in the case of entities that have not used products of the Bank before, streamlined application processes. (D) Duration The pilot program required by subparagraph (A) shall terminate on the date that is 5 years after the pilot program commences. (E) Small business concern defined In this subsection, the term small business concern has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632).. (b) Report to Congress Not later than one year after the commencement of the pilot program required by paragraph (3) of section 2(m) of the Export-Import Bank Act of 1945, as added by subsection (a), and annually thereafter for 5 years, the President of the Export-Import Bank of the United States shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report— (1) detailing the number of new regular partners of the Bank developed under the pilot program, disaggregated by entity type; (2) detailing the total volume and dollar amount of Bank products utilized by small business concerns (as defined in section 3 of the Small Business Act (15 U.S.C. 632)) as a direct result of referrals from those partners; (3) assessing the elements of the pilot program that were most successful and the elements that could use improvement; and (4) making recommendations with respect to whether new appropriations or other funding for the pilot program would be helpful or would have made the pilot program more successful.