S. 1603 · 109th Congress
Small Business Lending Improvement Act of 2005
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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.
R
SnoweSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Lending Improvement Act of 2005 - Amends the Small Business Act to establish within the current Preferred Lenders Program operated by the Small Business Administration (SBA) the National Preferred Lenders Program, under which a participant may operate as a preferred lender in any state if the lender meets eligibility criteria established by…
What it does: CRS summary · Introduced in Senate · Jul 29, 2005
Small Business Lending Improvement Act of 2005 - Amends the Small Business Act to establish within the current Preferred Lenders Program operated by the Small Business Administration (SBA) the National Preferred Lenders Program, under which a participant may operate as a preferred lender in any state if the lender meets eligibility criteria established by the SBA. Allows each approved participant to make loans for up to two years under the program.
Increases: (1) to up to $3 million the maximum authorized SBA gross loan amount for small businesses; and (2) the FY2006 authorization of appropriations to the SBA for such loans.
Directs the SBA Administrator to establish an alternative size standard (measuring the size of a business for purposes of eligibility for small business loans) utilizing the maximum net worth and net income of the prospective borrower as an alternative to the use of industry standards. Requires, in the interim, the use of an alternative size standard regulation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Lending Improvement Act of 2005
Latest action (Jul 29, 2005): Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S9524)
Policy area: Commerce · Origin: Senate · Introduced: Jul 29, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.