To amend the Small Business Act, and for other purposes.

Summary

Amends the Small Business Act (the Act) to increase the loan guarantee fee authorized to be charged by the Small Business Administration (SBA) on guaranteed loans. Amends the Small Business Guaranteed Credit Enhancement Act of 1993 to extend until September 30, 1997 the authority of the SBA to collect a fee for loan guarantees sold into the secondary market. Amends the Act to: (1) increase the SBA fee charged to borrowers under the development company debenture program; (2) direct the SBA to impose a one-time participation charge on banks or other financial institutions providing funding under such program; and (3) direct the SBA to collect an annual fee from each development company participating in such program. Amends the Small Business Investment Act of 1958 to: (1) authorize the SBA to charge an additional one percent per year to participants in the small business investment company program; and (2) direct the SBA to collect from a licensee a nonrefundable fee of three percent of the face amount of any leverage granted to such licensee. Amends the Act to: (1) repeal the SBA's authority to purchase $25 million in preferred securities; and (2) earmark the authorization of $48 million for guarantees under the guaranteed debenture program. Repeals specified provisions of this Act on October 1, 1997.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 August 1996

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• Introduced in House (PDF)

  Introduced in House · EN · 2 August 1996

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• Introduced in House

  summary · EN · 2 August 1996

  Open at official source

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