Sec. 853. INCREASED PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION MICROLOAN PROGRAM
367 words·~2 min read·
/statute-compilations/comps-15483/sec-853A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 853 INCREASED PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION MICROLOAN PROGRAM ###
(a)Definitions In this section: ####
(1)The term “intermediary” has the meaning given that term in section 7(m)(11) of the Small Business Act (15 U.S.C. 636(m)(11)). ####
(2)The term “microloan program” means the program established under section 7(m) of the Small Business Act (15 U.S.C. 636(m)). ###
(b)Microloan Intermediary Lending Limit Increased Section 7(m)(3)(C) of the Small Business Act (15 U.S.C. 636(m)(3)(C)) is amended by striking “$5,000,000” and inserting “$6,000,000”. ###
(c)SBA Study of Microenterprise Participation Not later than one year after the date of the enactment of this section, the Administrator of the Small Business Administration shall conduct a study and submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on— ####
(1)the operations (including services provided, structure, size, and area of operation) of a representative sample of— #####
(A)intermediaries that are eligible to participate in the microloan program and that do participate; and #####
(B)intermediaries that are eligible to participate in the microloan program and that do not participate; ####
(2)the reasons why eligible intermediaries described in paragraph (1)(B) choose not to participate in the microloan program; ####
(3)recommendations on how to encourage increased participation in the microloan program by eligible intermediaries described in paragraph (1)(B); and ####
(4)recommendations on how to decrease the costs associated with participation in the microloan program for eligible intermediaries. ###
(d)GAO Study on Microloan Intermediary Practices Not later than one year after the date of the enactment of this section, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report evaluating— ####
(1)oversight of the microloan program by the Small Business Administration, including oversight of intermediaries participating in the microloan program; and ####
(2)the specific processes used by the Small Business Administration to ensure— #####
(A)compliance by intermediaries participating in the microloan program; and #####
(B)the overall performance of the microloan program.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 853
INCREASED PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION MICROLOAN PROGRAM
Cites 1Cited by 0 across 0 sources