HR 3854 · 111th Congress · Commerce
Small Business Financing and Investment Act of 2009
Bill Progress
1
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.(2009-11-02)
Recorded Votes
How Did Your Rep Vote?
Enter a ZIP code or representative's name
Plain Language Summary
[AI summary unavailable — showing source text]
Small Business Financing and Investment Act of 2009 - Amends the Small Business Act and the Small Business Investment Act of 1958 to revise or add provisions concerning small business lending, including: (1) a rural lending outreach program; (2) a national lender training program; (3) pilot program authority; (4) a capital backstop program; (5) an independent appellate process within the Small Business Administration (SBA), with an SBA ombudsman; and (6) expanded eligibility and increased amounts for certain SBA loans. Revises or adds provisions concerning the certified development company (CDC) economic development loan program, including: (1) increased program levels; (2) authority to issue loan debentures; (3) operational requirements; (4) the accredited lenders program; (5) the premier certified lenders program; (6) authority for accredited or premier CDCs to engage in multistate loan operations; (7) SBA guarantee of debentures issued by CDCs; (8) economic development debentures; (9) CDC project funding requirements; (10) private debenture sales and the pooling of debentures; (11) CDC authority to foreclose and liquidate SBA-guaranteed loans; and (12) additional CDC report requ…
Summarized by Claude AI · Non-partisan · For informational purposes only