To amend the Small Business Act to provide for expanded participation in the microloan demonstration program.

[AI summary unavailable — showing source text] Amends the Small Business Act with respect to the microloan demonstration program (the provision of business loans to certain small businesses and women, low-income, and minority entrepreneurs) to: (1) authorize the Administrator of the Small Business Administration to make guaranteed loans under such program on an immediate or deferred basis; and (2) allow agencies or instrumentalities of a municipal government to be considered quasi-governmental economic development entities under the Act and therefore able to act as microloan intermediaries.…