Small Business Export Innovation Act

Summary

Small Business Export Innovation Act - Amends the Small Business Act to establish within the Small Business Administration the Small Business Export Innovation Office. Requires the Office to administer a Small Business Export Innovation Program under which the Office shall make competitive awards to small businesses to develop export trade strategies and knowledge of foreign markets. Requires the first phase of awards to involve matching awards of $25,000 to fund the export trade objectives described in export increase proposals submitted by selected applicants. Requires the second phase to involve additional $10,000 awards to those recipients who best developed export trade strategies and knowledge of foreign markets. Provides that a small business must have been in operation for at least two years to be eligible to apply for such an award. Requires the Office to ensure that at least one small business from each State receives an award. Requires the Office to: (1) make an annual public announcement of the Program specifics; (2) make direct mail solicitations to small businesses and intermediary service firms which could help publicize the Program; (3) report to the Congress annually on the awards made and the success of recipients in attaining award objectives; and (4) issue rules specifying a simplified, standardized funding process for such Program. Requires each recipient to report to the Office on its use of funds under the Program and its success in meeting export trade objectives. Makes one percent of the amounts appropriated for FY 1989 through 1993 for program and financing, loan investment, and the bond guarantee revolving fund under the Small Business Act available to carry out this Act.

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1 official file

• Introduced in House

  summary · EN · 2 April 1987

  Open at official source

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