109 STAT. 296 PUBLIC LAW 104-36—OCT. 12, 1995 Lenders Program' means any program established by the Administrator, as authorized under the proviso in section 5(b)(7), under which a written agreement between the lender and the Administration delegates to the lender— "(I) complete authority to make and close loans with a guarantee from the Administration without obtaining the prior specific approval of the Administration; and "(II) authority to service and liquidate such loans.". SEC. 3. GUARANTEE FEES. (a) AMOUNT OF FEES.— Section 7(a)(18) of the Small Business Act (15 U.S.C. 636(a)(18)) is amended to read as follows: " (18) GUARANTEE FEES. — "(A) IN GENERAL. —With respect to each loan guaranteed under this subsection (other than a loan that is repay- able in 1 year or less), the Administration shall collect a guarantee fee, which shall be payable by the participating lender and may be charged to the borrower, in an amount equal to the sum of— "(i) 3 percent of the amount of the deferred participation share of the loan that is less than or equal to $250,000; "(ii) if the deferred participation share of the loan exceeds $250,000, 3.5 percent of the difference between— "(I) $500,000 or the total deferred participation share of the loan, whichever is less; and "(II) $250,000; and "(iii) if the deferred participation share of the loan exceeds $500,000, 3.875 percent of the difference between— "(I) the total deferred participation share of the loan; and "(II) $500,000. " (B) EXCEPTION FOR CERTAIN LOANS.— Notwithstanding subparagraph (A), if the total deferred participation share of a loan guaranteed under this subsection is less than or equal to $80,000, the guarantee fee collected under subparagraph (A) shall be in an amount equal to 2 percent of the total deferred participation share of the loan.". (b) REPEAL OF PROVISIONS ALLOWING RETENTION OF FEES BY LENDERS. —Section 7(a)(19) of the Small Business Act (15 U.S.C. 636(a)(19)) is amended— (1) in subparagraph (B)— (A) by striking "shall (i) develop" and inserting "shall develop"; and (B) by striking ", and (ii)" and all that follows through the end of the subparagraph and inserting a period; and (2) by striking subparagraph (C). SEC. 4. ESTABLISHMENT OF ANNUAL FEE. (a) IN GENERAL. —Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following new paragraph: "(23) ANNUAL FEE. —
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