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United States · Bill · HR

H.R. 3737 (111th)

Small Business Microlending Expansion Act of 2009

referredUnited States· United States Congress· EN

Introduced

7 October 2009

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Small Business Microlending Expansion Act of 2009 - Amends the Small Business Act with respect to the Small Business Administration (SBA) Microloan program (small-scale loans to start-up, newly established, or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to: (1) direct the SBA Administrator to establish a process under which an intermediary making a Microloan loan provides relevant borrower information to the major credit reporting agencies; (2) remove the requirement that such loans be short-term only; (3) provide increased intermediary eligibility for program participation; (4) increase intermediary borrowing limits; and (5) increase the maximum loan amount to a small business borrower that will qualify for a reduced interest rate from the intermediary. Directs the Administrator to submit annually to the congressional small business committees specified information with respect to the Microloan program.

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Documents

8 official files

Referred in Senate (text)

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