(53 Stat. 1187). Very few exchanges are made under this authority as normally we do not have surplus lands which can be used in an exchange.

TVA

No except for exchanges with governmental agencies and utilities pursuant to sections 4(k) (c) and 4(k)(d) of the Tennessee Valley Authority Act.

ARMY ENGINEERS

The Department of the Army is authorized to exchange Government-owned lands for lands which may be required for a particular military project under the provisions of the various Military Construction Authorization Acts, the last example of which is section 601 of Public Law 87-554 (76 Stat. 240); and in connection with certain type military facilities under other legislation (e.g., MCA family housing and Capehart housing). Also, under Public Law 87-852 (76 Stat. 1129), the Army may acquire any interest in real property in exchange for the grant of an easement in real property of the United States. Authority contained in Public Law 87-852 has been delegated to the Secretary of the Army by the Secretary of Defense (DOD Directive 5160.43, Jan. 12, 1963).

(Authority to exchange lands for civil works projects is contained in 33 U.S.C. 558 b and b-1.)

Our exchange authorities are principally used to accomplish the exchange of rights-of-way under highway and utility relocation contracts. Occasionally, after acquisition is completed, the exchange authorities are used in situations where it has been determined that insufficient lands have been acquired in one area and an oversufficiency of lands have been acquired nearby and where it is possible to accomplish an exchange of such lands on the basis that they are substantially equal in value.

NAVY

The annual Military Construction Authorization Act authorizes the exchange of Government-owned lands for lands to be acquired. Section 601, Public Law 87-554, contains the typical provision. Two instances in which exchange authority has been utilized in recent years are: (1) an exchange of lands with Solano County in connection with the Mare Island Shipyard railroad, and (2) exchange of land with the University of California for the construction of housing for Naval Air Station, Alameda. The exchange authority has not been delegated to the field offices and the approval of the Bureau of Yards and Docks must be obtained on a case-by-case basis.

RLA-DISTRICT OF COLUMBIA

The Agency has authority under sections 5(a) and 7(a) of Public Law 592, 79th Congress, to exchange Government-owned land for lands to be acquired. This authority has been used in connection with land owned by the United States and controlled by the Department of the Interior. It is contemplated that this authority will be used in connection with property controlled by the General Services Administration.

APPENDIX E

AN ANALYSIS OF THE SMALL BUSINESS ADMINISTRATION'S DISASTER LOAN PROGRAM FOR DISPLACED SMALL BUSINESS CONCERNS

This appendix provides, in a series of tables, a view of the Small Business Administration's displaced business disaster loan program from its inception on June 30, 1961, through December 31, 1963. The tables are supplemented by a letter from the Small Business Administration reporting on additional loan applications received, and loans approved between January 1, 1964, and June 30, 1964.

Under this program (1) the borrower is not required to put up collateral; (2) loans can be made for 20 years, which is 10 years beyond the regular SBA loan program; (3) the interest rate is no higher than the average annual rate on all U.S. interest-bearing obligations in the previous fiscal year, plus one-fourth of 1 percent (this was three and five-eighths in early 1964); and (4) an amount for working capital can be included in the loan.

Data covered in the tables for the period June 30, 1961, through December 31, 1963, include:

Table 1. Number and amount of DBD loan applications screened, approved, rejected, or pending.

Table 2. Number and amount of applications for DBD loans, by SBA regions and States, screened, processed, and approved with bank participation and without bank participation.

Table 3. Size and bank participation characteristics of DBD loans approved for owners and nonowners of real property occupied. Table 4. Number and size of DBD loan applications by owners and nonowners withdrawn or rejected.

Table 5. Reasons for rejection of DBD loan applications.
Table 6. Repayment characteristics for DBD loans.

Table 7. Programs displacing small businesses for which DBD loans were approved.

Table 8. Age characteristics of owners and of businesses receiving DBD loans.

Table 9. Number employed by displaced businesses receiving DBD loans.

Table 10. Types of businesses displaced and receiving DBD loans. Table 11. Net profit prior to displacement for businesses receiving DBD loans.

Table 12. Periods for which deferral of initial payments permitted on DBD loans.

Table 13. Interest rates charged by banks and other lenders participating in DBD loans.

Table 14. Time lapses between application for DBD loan and date funds available to borrower.

Table 15. Types of eligible expenses for DBD loans.
Table 16. Principal uses of loan proceeds.

Supplement: Letter dated July 30, 1964, with attachments, "Displaced Business Disaster Loan (DBDL) Applications Received and Loans Approved, Period January 1, 1964, Through June 30, 1964."

455

TABLE 1.-Number and amount of DBD loan applications screened, approved, rejected, or pending, June 30, 1961, through Dec. 31, 1963