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United States · Law · S

S. 2060 (103rd)

Small Business Administration Reauthorization and Amendments Act of 1994

enactedUnited States· United States Congress· EN

Introduced

3 May 1994

Last action

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Status

Became Public Law No: 103-403.

Sponsors

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Subjects

Discovery layer

Source updated

14 January 2025

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Summary

Small Business Administration Amendments of 1994 - Title I: Amends the Small Business Act (the Act) to: (1) allow the Administrator of the Small Business Administration (SBA), under the microloan demonstration program, to make up to 100 percent deferred participation loans to ten small business intermediaries located in urban areas and ten intermediaries located in rural areas;(2) revise the authorized number of microloan programs for fiscal years after 1992; (3) increase from $1.5 to $5 million the annual microloan limits to a State; (4) increase from $1.25 to $1.75 million the total outstanding loan limit authorized for each intermediary; and (5) revise microloan repayment requirements. Title II: Revises provisions concerning the participatory amount of the SBA in small business loans provided on a deferred basis. Increases from $250,000 to $750,000 the authorized outstanding loan amounts for small businesses engaged in or adversely affected by international trade. Title III: Allows the SBA Administrator to inventory the productive facilities and capacities of business (currently, only small businesses) as part of a business loan process. Title IV: Establishes within the SBA an Office of Women's Business Ownership to administer the women's demonstration projects (projects providing financial assistance to businesses owned and controlled by women) created under the Act. Title V: Amends the Act and the Small Business Investment Act to provide that the authority of the SBA to make loans under such Acts shall remain available until expressly repealed. (Sec. 503) Removes a six-month limitation on the payment of transportation expenses of SBA employees in connection with any disaster loan assistance. (Sec. 505) Establishes in the Treasury one Loan Liquidation Fund, replacing various revolving funds, a disaster loan fund, and a business and investment loan fund under the Act. Provides for repayment of all such loans to the Fund. Requires a report from the SBA Administrator to specified congressional committees concerning Fund activities. (Sec. 507) Authorizes the SBA Administrator to specify detailed definitions or standards by which a business shall be recognized as a small business for purposes of the Act, with certain requirements such as an opportunity for public hearing. (Sec. 508) Empowers the SBA Administrator to impose reasonable fees in connection with assistance provided and information compiled and disseminated under the Act and the Small Business Investment Act. Title VI: Authorizes specified program funding levels for FY 1995 through 1997 for loans and other programs, as well as salaries and expenses, as provided or required under the Act and the Small Business Investment Act.

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Documents

15 official files

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