S. 138 · 109th Congress
SBA Microenterprise Improvements Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KerrySponsor2 cosponsors · 2 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
SBA Microenterprise Improvements Act - Amends the Small Business Act to revise the Small Business Administration's (SBA's) microloan program (a program under which SBA loans and grants are made to intermediaries, who then make loans to small businesses and provide to borrowers technical assistance, such as managerial and strategic advice) to: (1) revise…
What it does: CRS summary · Introduced in Senate · Jan 24, 2005
SBA Microenterprise Improvements Act - Amends the Small Business Act to revise the Small Business Administration's (SBA's) microloan program (a program under which SBA loans and grants are made to intermediaries, who then make loans to small businesses and provide to borrowers technical assistance, such as managerial and strategic advice) to: (1) revise eligibility requirements for microloan intermediaries; (2) increase from $7,500 to $10,000 the microloan small loan limit; (3) increase from 25 to 30 the percentage of a microloan grant that an intermediary may use to contract-out the provision of technical assistance by a third party; (4) remove the requirement that intermediaries make only short-term loans to small businesses; (5) require an annual report from the SBA to Congress on microloan amounts transferred to cover administrative expenses of technical assistance grants; (6) require the Administrator to develop a subsidy microloan program model that is more accurate than the current model; and (7) increase from 25 to 30 the percentage of technical assistance that an intermediary may provide to potential (rather than actual) borrowers.
Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to revise the Program for Investment in Microentrepreneurs (PRIME), a program to provide SBA assistance for the benefit of disadvantaged entrepreneurs through grants to qualified organizations. Authorizes a qualified organization to use grants to provide training and technical assistance to disadvantaged Native American entrepreneurs and prospective entrepreneurs. Requires each organization receiving assistance under PRIME to: (1) submit an annual activities report to the SBA; and (2) collect data on individuals counseled or trained and related information. Extends through FY 2007 the authorization of appropriations for PRIME.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SBA Microenterprise Improvements Act
Latest action (Jan 24, 2005): Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S355-356)
Policy area: Commerce · Origin: Senate · Introduced: Jan 24, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.