Child Care Lending Pilot Act of 2006

Summary

Child Care Lending Pilot Act of 2006 - Amends the Small Business Investment Act of 1958 to allow proceeds of loans made through the Small Business Administration (SBA) to be used by certified local development companies to assist a small, nonprofit child care business (business) if: (1) the loan is used for a sound business purpose approved by the SBA; (2) each business meets eligibility requirements applicable to for-profit businesses; (3) one or more individuals has personally guaranteed the loan; (4) each business has clear title to the collateral for the loan; and (5) each business has sufficient cash flow to meet loan obligations and reasonable operating expenses. Prohibits more than seven percent of the total number of loans guaranteed in any fiscal year for certified development companies from being awarded under such program. Allows such assistance through FY2009.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 April 2006

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 April 2006

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• Introduced in Senate

  summary · EN · 25 April 2006

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