A bill to amend the Small Business Investment Act of 1958 to permit prepayment of loans made to State and local development companies.

Summary

Amends the Small Business Investment Act of 1958 to permit a borrower of a loan made from the proceeds of debentures guaranteed by State and local development companies to prepay that portion of the loan by paying the outstanding principal balance due (plus interest). Prohibits any sums in addition to the outstanding principal balance (plus interest) due on such portion of the loans to be charged as the result of such prepayment against the borrower or the Small Business Administration (SBA), except the Administrator of the SBA may impose a reasonable fee to cover administrative expenses related to such prepayment.

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Versions

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Documents

3 official files

• Passed House amended

  summary · EN · 3 October 1988

  Open at official source

• Passed Senate amended

  summary · EN · 19 December 1987

  Open at official source

• Introduced in Senate

  summary · EN · 3 February 1987

  Open at official source

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