A bill to amend the Small Business Act to provide that determinations by the administration of the reasonable assurance of repayment of prospective loans be made on a case-by-case basis and to clarify the eligibility of small business homebuilding firms for assistance under the Small Business Act.

Summary

Empowers the Small Business Administration, under the provisions of the Small Business Act, to make loans to enable small business concerns to finance residential housing construction or rehabilitation for sale or rental. Requires the Administration to determine the reasonableness of repayment of its loans on a case-by-case basis. Stipulates that the Administration may engage in activities which involve borrowers who may, from time to time, take advantage of other Federal programs in carrying out their business, notwithstanding the restriction which prohibits the Administration from duplicating the work or activities of any other department or agency of the Federal Government.

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Documents

1 official file

• Introduced in House

  summary · EN · 8 December 1975

  Open at official source

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