Small Business Microlending Expansion Act of 2009
Latest action · Nov 9, 2009 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
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 7, 2009
- Passed HouseNov 7, 2009
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small Business Microlending Expansion Act of 2009 - (Sec. 2) Amends the Small Business Act with respect to the Small Business Administration (SBA) Microloan program (small-scale loans to start-up, newly established, or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to direct the SBA Administrator to establish a process under which an intermediary making a Microloan loan provides relevant borrower information to the major credit reporting agencies.
(Sec. 3) Removes the requirement that such loans be short-term only.
(Sec. 4) Increases eligibility for Microloan program participation to include intermediaries with at least one full-time employee with not less than: (1) three years of experience making microloans to startup, newly established, or growing small businesses; or (2) one year of experience providing intensive marketing, management, and technical assistance to borrowers.
(Sec. 5) Increases from: (1) $750,000 to $1 million the loan limit to an intermediary in the first year of participation; and (2) $3.5 million to $7 million the loan limit for the remaining years of participation.
(Sec. 6) Increases from 25% to 35% of grant funds received the maximum amount that may be used by an intermediary to provide information and technical assistance to small business borrowers.
(Sec. 7) Allows intermediaries that receive grants to establish a program that provides technical assistance to young entrepreneurs in establishing or operating a small business, or in securing financing, in the area served by the intermediary.
(Sec. 8) Increases from $7,500 to $10,000 the maximum loan amount to a small business borrower that will qualify for a reduced interest rate from the intermediary.
(Sec. 9) Directs the Administrator to submit annually to the congressional small business committees specified information with respect to the Microloan program, including participating intermediaries and borrowers, and the marketing, management, and technical assistance provided.
(Sec. 10) Authorizes the Administrator to make grants to intermediaries for reducing interest rates charged to Microloan borrowers (interest assistance grants).
(Sec. 11) Authorizes the Administrator to make Microloan technical assistance grants, direct loans, and interest assistance grants for FY2010-FY2011, and authorizes appropriations for such loans and grants.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 876 | On Motion to Suspend the Rules and Pass, as Amended | Passed405–23 | Nov 7, 2009 |
Cosponsors 2
Members who signed on, in the order they did. All signed on Nov 6, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VT | Peter Welch | Nov 6, 2009 | |
| D-TX | Ruben Hinojosa | Nov 6, 2009 |
Committees 2
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 7, 2009 |
| Finance and Tax | Referred Oct 7, 2009Markup Oct 8, 2009Reported Oct 8, 2009 | |
| Senate | Small Business and Entrepreneurship Committee | Referred Nov 9, 2009 |
Actions 14
Everything that happened, newest first.
- Nov 9, 2009Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Nov 7, 2009Considered as unfinished business. (consideration: CR H12594-12595)
- Nov 7, 2009Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 23 (Roll no. 876). (text: CR 11/6/2009 H12466-12467)
- Nov 7, 2009Motion to reconsider laid on the table Agreed to without objection.
- Nov 6, 2009Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
- Nov 6, 2009Considered under suspension of the rules. (consideration: CR H12466-12469)
- Nov 6, 2009DEBATE - The House proceeded with forty minutes of debate on H.R. 3737.
- Nov 6, 2009At the conclusion of debate, the chair put the question on the motion to suspend the rules. Ms. Velazquez objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was withdrawn.
- 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 7, 2009Introduced in House
- Oct 7, 2009Referred to the House Committee on Small Business.
- Oct 7, 2009Referred to the Subcommittee on Finance and Tax.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Recorded votes H12594enact | — | Nov 7, 2009 |
| House | Debate and remarks H12466–H12469Text printed H12466 | Mike Pence R-IN, Nydia M. Velázquez D-NY, Sam Graves R-MO | Nov 6, 2009 |
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 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| — | 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 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Small Business Act to improve the Microloan Program, and for other purposes.
- Short Titles as Introduced
- Small Business Microlending Expansion Act of 2009
- Short Titles as Passed House
- Small Business Microlending Expansion Act of 2009
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 3
Each version as it was printed, newest first.
- Nov 9, 2009Referred in Senate
- Nov 7, 2009Engrossed in House
- Oct 7, 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.
