HR 4302 · 111th Congress · Commerce
Small Business Job Creation and Access to Capital Act of 2009
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Small Business.(2009-12-14)
Plain Language Summary
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Small Business Job Creation and Access to Capital Act of 2009 - Amends the Small Business Act to increase maximum amounts of loans under the following Small Business Administration (SBA) loan programs: (1) the section 7(a) (general small business loans) guaranteed loan program; (2) the section 504 (state and local development company) program; and (3) the Microloan (small-scale loans to start-up, newly-established, and growing small businesses) program. Amends the American Recovery and Reinvestment Act of 2009 to extend through 2010 SBA authority to reduce or eliminate loan fees on section 7(a) and 504 loans. Amends the Small Business Investment Act of 1958 to apply single-business investment limits to SBA-recognized new markets venture capital companies. Directs the SBA Administrator to establish for prospective borrowers an alternative small business size standard that uses maximum tangible net worth and average net income as an alternative to the use of industry standards. Expresses the sense of Congress that the Administrator should establish a website that: (1) lists SBA lenders and provides loan rate information; and (2) allows prospective borrowers to compare rates on SBA-gu…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
20 Democrats