Small Business Budget Reconciliation and Loan Consolidation/Improvement Act of 1981

[AI summary unavailable — showing source text] Amends the Small Business Act to make Small Business Administration (SBA) loans available to State and local development companies for plant acquisition, construction, conversion, or expansion (including land acquisition) and to any small business for purposes of such Act. Removes limitations on the primary use of such loans. Increases the maximum amount of such loans from $500,000 to $750,000. Authorizes the SBA to add up to one percent to the interest rate on loans (currently one-quarter of one percent is added). Increases the maximum maturity from ten to 30 years. Makes small business concerns owned and controlled by Indian tribes and any public or private organizations which employ handicapped individuals for 75 percent or more of the man-hours required for their business eligible for loans under such Act. Permits the SBA to advance financial assistance to State or local development companies to assist identifiable small business concerns. Eliminates loans to corporations formed and capitalized by small businesses for the purpose of obtaining raw materials, equipment, inventories, supplies, or research and development benefits. Repeals provisions authorizing trade adjustment lo…