Microloan Improvement Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10241 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10241 To amend the Small Business Act to optimize the operations of the microloan program, lower costs for small business concerns and intermediary participants in the program, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES November 21, 2024 Ms. Velazquez introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To amend the Small Business Act to optimize the operations of the microloan program, lower costs for small business concerns and intermediary participants in the program, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Microloan Improvement Act of 2024''. SEC. 2. INTEREST RATE FOR CERTAIN INTERMEDIARIES. Section 7(m)(3)(F)(iii) of the Small Business Act (15 U.S.C. 636(m)(3)(F)(iii)) is ame…