118 STAT. 3442 PUBLIC LAW 108–447—DEC. 8, 2004 CHAPTER 2—OFFICE OF VETERANS BUSINESS DEVELOPMENT Sec. 143. Advisory Committee on Veterans Business Affairs. Sec. 144. Outreach grants for veterans. Sec. 145. Authorization of appropriations. Sec. 146. National Veterans Business Development Corporation. CHAPTER 3—MANUFACTURING AND ENTREPRENEURIAL DEVELOPMENT Sec. 147. Small Business Manufacturing Task Force. Subtitle E—HUBZone Program Sec. 151. Streamlining and revision of HUBZone eligibility requirements. Sec. 152. Expansion of qualified areas. Sec. 153. Price evaluation preference. Sec. 154. HUBZone Authorizations. Sec. 155. Participation in federally funded projects. Subtitle F—Small business lending companies Sec. 161. Supervisory and enforcement authority for small business lending compa nies. Sec. 162. Definitions relating to small business lending companies. TITLE II—MISCELLANEOUS AMENDMENTS Sec. 201. Amendment to definition of equity capital with respect to issuers of par ticipating securities. Sec. 202. Investment of excess funds. Sec. 203. Surety bond amendments. Sec. 204. Effective date for certain fees. TITLE I—SMALL BUSINESS REAUTHOR IZATION AND MANUFACTURING Subtitle A—Small Manufacturers Assistance SEC. 101. EXPRESS LOANS. (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: ‘‘(31) EXPRESS LOANS.— ‘‘(A) DEFINITIONS.—As used in this paragraph: ‘‘(i) The term ‘express lender’ means any lender authorized by the Administration to participate in the Express Loan Program. ‘‘(ii) The term ‘express loan’ means any loan made pursuant to this paragraph in which a lender utilizes to the maximum extent practicable its own loan anal yses, procedures, and documentation. ‘‘(iii) The term ‘Express Loan Program’ means the program for express loans established by the Adminis tration under paragraph (25)(B), as in existence on April 5, 2004, with a guaranty rate of not more than 50 percent. ‘‘(B) RESTRICTION TO EXPRESS LENDER.—The authority to make an express loan shall be limited to those lenders deemed qualified to make such loans by the Administration. Designation as an express lender for purposes of making an express loan shall not prohibit such lender from taking any other action authorized by the Administration for that lender pursuant to this subsection. ‘‘(C) GRANDFATHERING OF EXISTING LENDERS.—Any express lender shall retain such designation unless the
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