HR 3723 · 111th Congress · Commerce
Small Business Credit Expansion and Loan Markets Stabilization Act of 2009
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Provisions of Measure Incorporated into H.R. 3854.(2009-10-21)
Plain Language Summary
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Small Business Credit Expansion and Loan Markets Stabilization Act of 2009 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish and carry out: (1) a program to provide support to SBA regional, district, and branch offices to assist small lenders not participating in the SBA Preferred Lenders Program to participate in other programs for assistance to small businesses under the SBA 7(a) general business loan program; (2) a rural lending outreach program; and (3) a lender training program for new and existing lenders. Makes permanent (currently pilot programs): (1) the SBA's Community Express Program; and (2) a program for reduced fees for veteran participation loans. Reduces restrictions with respect to borrower leasing of space constructed with the proceeds of an SBA-guaranteed loan. Directs the Administrator to establish and permit a lender making a 7(a) loan to use an alternative loan size standard based on factors including a business's maximum tangible net worth and average net income. Prohibits more than 10% of SBA-guaranteed loans in a fiscal year from being awarded as part of a pilot program. Provides additional p…
Summarized by Claude AI · Non-partisan · For informational purposes only