HR 2639 · 109th Congress · Commerce

Small Business Intermediary Lending Pilot Program Act of 2005

Introduced 2005-05-25· Sponsored by Rep. Rush, Bobby L. [D-IL-1]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Small Business.(2005-05-25)

Plain Language Summary

[AI summary unavailable — showing source text] Small Business Intermediary Lending Pilot Program Act of 2005 - Establishes a three-year small business intermediary lending pilot program under which the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending intermediaries for the purpose of making fixed interest rate and mid-size loans ($35,000 to $200,000) to startup, newly-established, and growing small businesses. Authorizes the SBA, under the program, to make one percent, 20-year loans of up to $1 million, on a competitive basis, to up to 20 nonprofit lending intermediaries. Requires geographic diversity and representation of urban and rural communities under the program.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (4)

4 Democrats