PoliticalRepoPoliticalRepo

United States · Bill · S

S. 526 (115th)

Microloan Modernization Act of 2018

openUnited States· United States Congress· EN

Introduced

2 March 2017

Last action

20 December 2018 · Committee

Status

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

Sponsors

Deb Fischer, Christopher Coons, Tim Scott, Kirsten Gillibrand, Jeanne Shaheen, Gary Peters, Sen. Donnelly, Joe [D-IN], Tammy Duckworth

Subjects

Discovery layer

Source updated

5 December 2025

Official sourceDownload fileView documentsShare

Summary

Microloan Modernization Act of 2017 This bill amends the Small Business Act to repeal the "25/75" rule under the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business) that permits SBA-designated microloan intermediary lenders to expend up to 25% of the intensive marketing, management, and technical assistance grant funds they receive from the SBA to provide information and technical assistance to small business concerns that are their prospective borrowers. The total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund shall be increased from $5 million to $6 million for the remaining years of the intermediary's participation in the program. The SBA shall: compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not, study the reasons why the latter do not participate, recommend how to encourage increased participation by intermediaries in the microloan program, and recommend how to decrease the associated costs for intermediary participation. The Government Accountability Office shall evaluate: SBA oversight of the microloan program, including oversight of participating intermediaries; and the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 2 March 2017

    Introduced

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

    Source: IntroReferral

  2. 2 March 2017

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 14 March 2018

    Reported

    Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Source: Committee

  4. 19 March 2018

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.

    Source: Calendars

  5. 19 March 2018

    Reported

    Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.

    Source: Committee

  6. 19 March 2018

    Reported

    Committee on Small Business and Entrepreneurship. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.

    Source: Committee

  7. 18 July 2018

    Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S5072-5073)

    Source: Floor

  8. 18 July 2018

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.(text: CR S5073)

    Source: Floor

  9. 19 July 2018

    Floor

    Received in the House.

    Source: Floor

  10. 19 July 2018

    Floor

    Held at the desk.

    Source: Floor

  11. 19 July 2018

    Floor

    Message on Senate action sent to the House.

    Source: Floor

  12. 20 December 2018

    Floor

    By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

    Source: Floor

  13. 20 December 2018

    Committee

    By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-452.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

7 official files

Sponsors

Related records

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.