Small Business Administration Microloan Program

Dilger, Robert Jay

Library of Congress. Congressional Research Service.

关键词: Legislation;    Small business;    Loans;   

RP-ID  :  R41057
RP-ID  :  R41057_2017Aug09

美国|英语

来源: UNT Digital Library

【 摘 要 】

This report opens with a discussion of the rationale provided for having a Microloan program, describes the program's eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program's critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program's loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million.It also discusses H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate. The bill, as amended, was favorably reported by the House Committee on Small Business on July 12, 2017, and agreed to by the House on July 24, 2017, by voice vote.