To prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes.

This bill prohibits the Small Business Administration from directly making a loan under the 7(a) Program, which authorizes loans and loan guaranties to small businesses that meet certain requirements.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6037 Introduced in House (IH)]

<DOC>






117th CONGRESS
  1st Session
                                H. R. 6037

To prohibit the Administrator of the Small Business Administration from 
   directly making loans under the 7(a) loan program, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 18, 2021

Mr. Luetkemeyer (for himself, Mr. Williams of Texas, Mr. Hagedorn, Mr. 
Stauber, Mr. Meuser, Ms. Tenney, Mr. Garbarino, Mrs. Kim of California, 
Ms. Van Duyne, Mr. Donalds, Ms. Salazar, and Mr. Fitzgerald) introduced 
   the following bill; which was referred to the Committee on Small 
                                Business

_______________________________________________________________________

                                 A BILL


 
To prohibit the Administrator of the Small Business Administration from 
   directly making loans under the 7(a) loan program, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITION ON DIRECT 7(A) LOANS.

    (a) In General.--Notwithstanding any provision of subsection (a) of 
section 7 of the Small Business Act (15 U.S.C. 636(a)), the 
Administrator of the Small Business Administration may not directly 
make a loan pursuant to such subsection.
    (b) Existing Loans.--The Administrator of the Small Business 
Administration shall service a direct loan made under section 7(a) of 
the Small Business Act (15 U.S.C. 636(b)) if such loan was made before 
the date of the enactment of this Act.
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