FEDERAL AGENCY:
OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION:
Public Law 97-449, 49 U.S.C. 332.
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.
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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.
ELIGIBILITY REQUIREMENTS:
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 are eligible to participate in the Lending
program.
Beneficiary Eligibility: Minority, women-owned
and disadvantaged business enterprises.
Credentials/Documentation: Certification letter
from the recipient agencies.
APPLICATION AND AWARD PROCESS:
Pre-application 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.
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: Decisions are
made within 30 to 60 days from the time the application is completed.
Appeals: Not applicable.
Renewals: DBEs can apply for renewal of existing
lines of credit. Renewals and increases in in lines of credit are encouraged.
ASSISTANCE CONSIDERATIONS:
Formula and Matching Requirements: Not applicable.
Length and Time Phasing of Assistance: Lines of
credit are generally approved for a one year period.
POST ASSISTANCE REQUIREMENTS:
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.
FINANCIAL INFORMATION:
Account Identification: 69-0102-0-1-407.
Obligations: (Loans) FY 01 $6,000,000; FY 02 est
$12,000,000; and FY 03 est $8,000,000.
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 2001, 30 applications have been approved in the amount of
$12,000,000.
REGULATIONS, GUIDELINES, AND LITERATURE:
Public Law 97-449, 49 U.S.C. 332.
INFORMATION CONTACTS:
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.
EXAMPLES OF FUNDED PROJECTS:
Not applicable.
CRITERIA FOR SELECTING PROPOSALS:
Not applicable.
