S. 2288 · 110th Congress
Small Business Lending Oversight and Program Performance Improvement Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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SnoweSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Lending Oversight and Program Performance Improvement Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to develop and publish portfolio quality evaluation standards to evaluate the loan portfolios of lenders participating in the section 7(a) (SBA-guaranteed loans to small businesses) and 504 (financing to…
What it does: CRS summary · Introduced in Senate · Nov 1, 2007
Small Business Lending Oversight and Program Performance Improvement Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to develop and publish portfolio quality evaluation standards to evaluate the loan portfolios of lenders participating in the section 7(a) (SBA-guaranteed loans to small businesses) and 504 (financing to small businesses funded by SBA-guaranteed debentures) programs of the Small Business Act. Requires the standards to measure the rates of loan liquidation, currency, recovery, and delinquency, and to be used by the Administrator to determine lender portfolio quality and to conduct lender oversight. Requires quarterly lender evaluations, and allows for onsite reviews of covered lenders.
Directs the Administrator to: (1) calculate loan default rates; (2) inform lenders of their portfolio quality ranking; (3) develop and publish loan recipient economic performance evaluation measurements; and (4) ensure the privacy of collected information.
Amends the Small Business Investment Act of 1958 to require a state or local development company (lender) participating in an SBA loan program to execute a written contract with each executive or highly paid company employee which includes the amount of compensation, benefits, and transfer of anything of value to that executive or employee. Requires such contract to be approved by that company's board of directors.
Directs the Comptroller General to conduct a study of the 7(a) loan program relating to lender oversight and portfolio examination and review fees.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Lending Oversight and Program Performance Improvement Act of 2007
Latest action (Nov 1, 2007): Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S13689-13691)
Policy area: Commerce · Origin: Senate · Introduced: Nov 1, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.