Small Business Credit Efficiency Act of 1995

Summary

Small Business Credit Efficiency Act of 1995 - Amends the Small Business Act to increase to five tenths of one percent (from four tenths of one percent) of the outstanding principal balance of a loan guaranteed by the Small Business Administration (SBA) the amount which may be charged as a fee for loan guarantees sold on the secondary market. Decreases the level of participation by the SBA in the guarantee of general business loans made to qualified small businesses to: (1) 80 percent of the balance of the financing outstanding if such amount is less than or equal to $100,000; and (2) 75 percent of such balance if such amount is greater than $100,000. (Currently, the level is no less than 90 percent of such balance for any amount less than or equal to $155,000.) Limits the maximum authorized interest rate for a loan guaranteed under the Preferred Lenders Program to the highest rate charged for other SBA loan guarantees. Authorizes the SBA to collect from borrowers a loan guarantee fee of: (1) two and one half percent of the outstanding loan balance for loans greater than or equal to $250,000, but less than $500,000; and (2) three percent of such balance for loans of $500,000 or greater. (Currently, the SBA may collect a loan fee of two percent for loans of any amount.) Directs the SBA to collect an additional fee to offset administrative costs of such loans. Repeals a provision authorizing lenders to retain one half of such loan guarantee fee. Amends the Small Business Investment Act of 1958 to: (1) increase from $1 million to $1.25 million the maximum authorized loan that may be made to each qualifying State and local development company for use in plant acquisition, construction, conversion, and expansion; and (2) direct the SBA to collect an additional fee to offset administrative costs of such loans.

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Documents

7 official files

• Passed House amended

  summary · EN · 12 September 1995

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• Reported in House (text)

  Reported in House · EN · 6 September 1995

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• Reported in House (PDF)

  Reported in House · EN · 6 September 1995

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• Reported to House with amendment(s)

  summary · EN · 6 September 1995

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• Introduced in House (text)

  Introduced in House · EN · 1 August 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 1 August 1995

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• Introduced in House

  summary · EN · 1 August 1995

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