S. 3432 · 111th Congress
Working Capital Express Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BoxerSponsorNo cosponsors.
Working Capital Express Act of 2010 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to guarantee loans for working capital made by lenders under the SBA's Express Loan Program to small businesses in operation for at least two years.
What it does: CRS summary · Introduced in Senate · May 27, 2010
Working Capital Express Act of 2010 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to guarantee loans for working capital made by lenders under the SBA's Express Loan Program to small businesses in operation for at least two years. Provides loan terms, including a guarantee limit of $750,000 for each small business.
Directs the Administrator to: (1) establish maximum default and delinquency rates for such loans; and (2) suspend the eligibility to make such loans in the case of any lender with a default or delinquency rate in excess of such rates.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Working Capital Express Act of 2010
Latest action (May 27, 2010): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: May 27, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.