S. 1445 · 114th Congress
Microloan Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FischerSponsor3 cosponsors · 2 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Small Business Act to revise requirements for the Small Business Administration (SBA) Microloan Program (direct loans to eligible intermediaries for making fixed interest rate microloans to startup, newly established, or growing small businesses).
What it does: CRS summary · Introduced in Senate · May 21, 2015
Microloan Act of 2015
This bill amends the Small Business Act to revise requirements for the Small Business Administration (SBA) Microloan Program (direct loans to eligible intermediaries for making fixed interest rate microloans to startup, newly established, or growing small businesses).
The bill repeals the authority for each intermediary to expend certain grant amounts to: (1) provide information and technical assistance to small businesses that are prospective borrowers, and (2) enter into third party contracts to provide technical assistance.
The bill also repeals minimum allocation requirements and authority to redistribute portions of remaining microloan funds in the third quarter.
It is the sense of Congress that the SBA should promote the Microloan Program to encourage entrepreneurs to use it.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Microloan Act of 2015
Latest action (May 21, 2015): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: May 21, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.