Page:United States Statutes at Large Volume 110 Part 4.djvu/891

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PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-728 (1) IMPLEMENTATION PLAN REQUIRED. —The Administrator shall submit a detailed plan for completing the consolidation, in one or more centralized centers, of the performance of the various functions relating to the servicing of loans directly made or guaranteed by the Administration pursuant to the Small Business Act, addressing the matters described in paragraph (2) by the deadline specified in paragraph (3). (2) CONTENTS OF PLAN.— In addition to such other matters as the Administrator may deem appropriate, the plan required by paragraph (1) shall include— (A) the proposed number and location of such centralized loan servicing centers; (B) the proposed workload (identified by type and numbers of loans and their geographic origin by the Small Business Administration district office) and staffing of each such center; (C) a detailed, time-phased plan for the transfer of the identified loan servicing functions to each proposed center; and (D) any identified impediments to the timely execution of the proposed plan (including adequacy of available financial resources, availability of needed personnel, facilities, and related equipment) and the recommendations of the Administrator for addressing such impediments. (3) DEADLINE FOR SUBMISSION.—Not later than February 28, 1997, the plan required by paragraph (1) shall be submitted to the Committees on Small Business of the House of Representatives and Senate. (h) PREFERRED LENDER STANDARD REVIEW PROGRAM. —Not is use 634 note. later than 90 days after the date of enactment of this Act, the Administrator shall commence a standard review program for the Preferred Lender Program established by section 5(b)(7) of the Small Business Act (15 U.S.C. 634(b)(7)), which shall include annual or more frequent assessments of the participation of the lender in the program, including defaults, loans, and recoveries of loans made by that lender under the authority of this section. The Administrator shall require such standard review for each new entrant to the Preferred Lender Program. (i) INDEPENDENT STUDY OF LOAN PROGRAMS.— (1) STUDY REQUIRED. —The Administrator shall contract with one or more private sector parties to conduct a comprehensive assessment of the performance of the loan programs authorized by section 7(a) of the Small Business Act (15 U.S.C. 636(a)) and title V of the Small Business Investment Act of 1958 (15 U.S.C. 661) addressing the matters described in paragraph (2) and resulting in a report to the Congress pursuant to paragraph (5). (2) MATTERS TO BE ASSESSED.— In addition to such other matters as the Administrator considers appropriate, the assessment required by paragraph (1) shall address, with respect to each loan program described in paragraph (1) for each of the fiscal years described in paragraph (3)— (A) the number and frequency of deferrals and defaults; (B) default rates; (C) comparative loss rates, by—