Small Business Credit Expansion and Loan Markets Stabilization Act of 2009
Latest action · Oct 21, 2009 Provisions of Measure Incorporated into H.R. 3854.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 6, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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 pilot program dollar limitations. Prohibits pilot programs (other than existing ones) from exceeding three years in duration.
Authorizes the Administrator to provide loans to cooperatives, under specified conditions.
Directs the Administrator to establish: (1) a capital backstop program, under which the Administrator collects information from a small business to determine the creditworthiness and repayment ability of a small business attempting to secure an SBA-guaranteed loan; and (2) a process for providing such information to participating lenders.
Prohibits the Administrator from applying any application, processing, or approval standard to a loan for the purpose of financing goodwill, unless such standard applies to all 7(a) loans.
Directs the Administrator to: (1) establish an independent SBA appellate process for reviewing material determinations affecting a lender or investment company participating or applying to participate in an SBA program; and (2) appoint an SBA ombudsman.
Amends the American Recovery and Reinvestment Act of 2009 to extend and expand certain loans made available to small businesses.
Increases certain SBA loan limits. Revises real estate appraisal requirements with respect to SBA loans secured by commercial property.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Oct 20, 2009 to Oct 21, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MO | Ike Skelton | Oct 20, 2009 | |
| D-WA | Rick Larsen | Oct 21, 2009 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred Oct 6, 2009 |
| Finance and Tax | Referred Oct 6, 2009Markup Oct 8, 2009Reported Oct 8, 2009 |
Actions 6
Everything that happened, newest first.
- Oct 21, 2009Provisions of Measure Incorporated into H.R. 3854.
- Oct 8, 2009Subcommittee Consideration and Mark-up Session Held.
- Oct 8, 2009Forwarded by Subcommittee to Full Committee by Voice Vote .
- Oct 6, 2009Introduced in House
- Oct 6, 2009Referred to the House Committee on Small Business.
- Oct 6, 2009Referred to the Subcommittee on Finance and Tax.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 3
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| 111-52 | FULL COMMITTEE MARKUP OF H.R. 3854: THE SMALL BUSINESS FINANCING AND INVESTMENT ACT OF 2009212 pages | Small Business Committee | Oct 21, 2009 |
| — | FULL COMMITTEE HEARING ON INCREASING ACCESS TO CAPITAL FOR SMALL BUSINESSES124 pages | Small Business Committee | Oct 14, 2009 |
| 111-50 | SUBCOMMITTEE MARKUP OF LEGISLATION AFFECTING THE SBA CAPITAL ACCESS PROGRAMS212 pages | Small Business Committee | Oct 8, 2009 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3854 | Small Business Financing and Investment Act of 2009 | Text similarities | Nov 2, 2009 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Act to improve the activities carried out under section 7(a) of such Act, and for other purposes.
- Short Titles as Introduced
- Small Business Credit Expansion and Loan Markets Stabilization Act of 2009
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Administrative law and regulatory procedures
- Administrative remedies
- Business investment and capital
- Business records
- Commerce
- Credit and credit markets
- Executive agency funding and structure
- Financial crises and stabilization
- Government lending and loan guarantees
- Government studies and investigations
- Indian social and development programs
- Minority and disadvantaged businesses
- National Guard and reserves
- Rural conditions and development
- Small business
- Small Business Administration
- User charges and fees
- Veterans' education, employment, rehabilitation
- Veterans' loans, housing, homeless programs
- Women in business
Text 1
Each version as it was printed, newest first.
- Oct 6, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
