Increasing Small Business Lending Act - Amends the Small Business Act to suspend, until September 30, 2015, fees under the 7(a) program (SBA-guaranteed loans to small businesses) and the 504 program (financing to small businesses backed by SBA-guaranteed debentures issued by any qualified state or local development company).
Authorizes the SBA to guarantee up to 90% of a loan made by a private lender to a small business eligible for a loan guarantee under the Small Business Act or the Small Business Investment Act of 1958. Prohibits such guarantees with respect to small businesses: (1) in which an unlawful alien has an ownership interest, or (2) in violation of immigration laws.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4652 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 4652
To increase lending to small businesses.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 9, 2014
Mr. Tierney (for himself, Mr. Cicilline, Ms. DeLauro, Mr. Larsen of
Washington, Mr. Loebsack, Mr. McGovern, Ms. Norton, Mr. Rangel, Mr.
Sarbanes, Ms. Schakowsky, Mr. Tonko, Ms. Tsongas, Mr. Capuano, Mr.
Payne, Mr. Cardenas, Mr. Courtney, Ms. Duckworth, Mr. Hastings of
Florida, Mr. Lowenthal, Mr. Michaud, Mr. Owens, Mr. Pocan, Ms. Shea-
Porter, and Mr. Lewis) introduced the following bill; which was
referred to the Committee on Small Business
_______________________________________________________________________
A BILL
To increase lending to small businesses.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Increasing Small Business Lending
Act''.
SEC. 2. FEE REDUCTIONS.
(a) Administrative Provisions Small Business Administration.--Until
September 30, 2015, and to the extent that the cost of such elimination
or reduction of fees is offset by appropriations, with respect to each
loan guaranteed under section 7(a) of the Small Business Act (15 U.S.C.
636(a)) and section 3 of this Act, for which the application is
approved on or after the date of enactment of this Act, the
Administrator shall--
(1) in lieu of the fee otherwise applicable under section
7(a)(23)(A) of the Small Business Act (15 U.S.C.
636(a)(23)(A)), collect no fee or reduce fees to the maximum
extent possible; and
(2) in lieu of the fee otherwise applicable under section
7(a)(18)(A) of the Small Business Act (15 U.S.C.
636(a)(18)(A)), collect no fee or reduce fees to the maximum
extent possible.
(b) Temporary Fee Elimination for the 504 Loan Program.--
(1) In general.--Until September 30, 2015, and to the
extent the cost of such elimination in fees is offset by
appropriations, with respect to each project or loan guaranteed
by the Administrator pursuant to title V of the Small Business
Investment Act of 1958 (15 U.S.C. 695 et seq.) for which an
application is approved or pending approval on or after the
date of enactment of this Act--
(A) the Administrator shall, in lieu of the fee
otherwise applicable under section 503(d)(2) of the
Small Business Investment Act of 1958 (15 U.S.C.
697(d)(2)), collect no fee; and
(B) a development company shall, in lieu of the
processing fee under section 120.971(a)(1) of title 13,
Code of Federal Regulations (relating to fees paid by
borrowers), or any successor thereto, collect no fee.
(2) Reimbursement for waived fees.--
(A) In general.--To the extent that the cost of
such payments is offset by appropriations, the
Administrator shall reimburse each development company
that does not collect a processing fee pursuant to
paragraph (1)(B).
(B) Amount.--The payment to a development company
under subparagraph (A) shall be in an amount equal to
1.5 percent of the net debenture proceeds for which the
development company does not collect a processing fee
pursuant to paragraph (1)(B).
(c) Application of Fee Eliminations.--To the extent that amounts
are made available to the Administrator for the purpose of fee
eliminations or reductions under subsection (a), the Administrator
shall--
(1) first use any amounts provided to eliminate or reduce
fees paid by small business borrowers under clauses (i) through
(iii) of paragraph (18)(A), to the maximum extent possible;
(2) then use any amounts provided to eliminate or reduce
fees under paragraph (23)(A) paid by small business lenders
with assets less than $1,000,000,000 as of the date of
enactment; and
(3) then use any remaining amounts appropriated under this
Act to reduce fees paid by small business lenders other than
those with assets less than $1,000,000,000.
SEC. 3. ECONOMIC STIMULUS LENDING PROGRAM FOR SMALL BUSINESSES.
(a) In General.--The Administrator may guarantee up to 90 percent
of qualifying small business loans made by eligible lenders.
(b) Definitions.--For purposes of this section:
(1) The term ``Administrator'' means the Administrator of
the Small Business Administration.
(2) The term ``qualifying small business loan'' means any
loan to a small business concern pursuant to section 7(a) of
the Small Business Act (15 U.S.C. 636) or title V of the Small
Business Investment Act of 1958 (15 U.S.C. 695 and following)
except for such loans made under section 7(a)(31).
(3) The term ``small business concern'' has the same
meaning as provided by section 3 of the Small Business Act (15
U.S.C. 632).
(c) Nonapplication of Section to Certain Loans.--
(1) Aliens unlawfully present in the united states.--A loan
guarantee may not be made under this section for a loan made to
a concern if an individual who is an alien unlawfully present
in the United States--
(A) has an ownership interest in that concern; or
(B) has an ownership interest in another concern
that itself has an ownership interest in that concern.
(2) Firms in violation of immigration laws.--No loan
guarantee may be made under this section for a loan to any
entity found, based on a determination by the Secretary of
Homeland Security or the Attorney General to have engaged in a
pattern or practice of hiring, recruiting or referring for a
fee, for employment in the United States persons knowing those
persons are or would be aliens unlawfully present in the United
States.
(d) Criminal Background Checks.--Before approval of any loan
guarantee under this section, the Administrator may verify the
applicant's criminal background, or lack thereof, through the best
available means, including, if possible, use of the National Crime
Information Center computer system at the Federal Bureau of
Investigation.
(e) Application of Other Law.--Nothing in this section shall be
construed to exempt any activity of the Administrator under this
section from the Federal Credit Reform Act of 1990 (title V of the
Congressional Budget and Impoundment Control Act of 1974; 2 U.S.C. 661
and following).
(f) Small Business Act Provisions.--The provisions of the Small
Business Act applicable to loan guarantees under section 7 of that Act
and regulations promulgated thereunder as of the date of the enactment
of this Act shall apply to loan guarantees under this section except as
otherwise provided in this section.
(g) Sunset.--Loan guarantees may not be issued under this section
later than one year after the date of the enactment of this Act.
SEC. 4. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated such sums as may be
necessary to carry out this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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