S. 1828 · 112th Congress
Increasing Small Business Lending Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KerrySponsorNo cosponsors.
Increasing Small Business Lending Act of 2011 - Amends the American Recovery and Reinvestment Act of 2009 to extend small business loan fee reductions and eliminations and small business loan guarantees under such Act to one year after the enactment of this Act.
What it does: CRS summary · Introduced in Senate · Nov 8, 2011
Increasing Small Business Lending Act of 2011 - Amends the American Recovery and Reinvestment Act of 2009 to extend small business loan fee reductions and eliminations and small business loan guarantees under such Act to one year after the enactment of this Act.
Makes uniform between the Small Business Administration (SBA) section 7(a) loan program and the SBA local development business loan program the office space leasing policy, allowing up to 50% of a facility to be leased on either a new or existing building.
Allows the SBA Administrator to pool (combine for sale on the secondary market) SBA-guaranteed loans having various interest rates. (Currently, the SBA may pool only SBA-guaranteed loans having the same interest rate.) Requires interest rates on trust certificates representing shares of pooled loans to be the weighted average interest rate of such loans. Requires the SBA to provide to intermediary lenders at least one alternative interest rate other than the Wall Street prime rate.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Increasing Small Business Lending Act of 2011
Latest action (Nov 8, 2011): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Nov 8, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.