To increase loan limits for small business concerns, to provide for low interest refinancing for small business concerns, and for other purposes.

Summary: 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-guaranteed loans.

Amends provisions of the Small Business Investment Act of 1958 relating to the local development business loan program to allow a small business borrower under such program to refinance a previous business debt: (1) that was incurred no less than two years before application for the SBA loan; (2) that is a commercial loan; (3) that is not guaranteed by a federal agency; (4) the proceeds of which were used to acquire a fixed asset for the benefit of the small business; (5) that is collateralized by fixed assets; and (6) for which the borrower has been current on all payments for at least one year. Allows the Administrator to provide financing under such program for a borrower that meets certain job creation or retention goals. Provides an alternate job retention goal for which a borrower may qualify.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Job Creation and 
Access to Capital Act of 2009''.

        TITLE I--NEXT STEPS FOR MAIN STREET CREDIT AVAILABILITY

SEC. 101. SECTION 7(A) BUSINESS LOANS.

    (a) Amendment.--Section 7(a) of the Small Business Act (15 U.S.C. 
636(a)) is amended--
            (1) in paragraph (2)(A)--
                    (A) in clause (i), by striking ``75 percent'' and 
                inserting ``90 percent''; and
                    (B) in clause (ii), by striking ``85 percent'' and 
                inserting ``90 percent''; and
            (2) in paragraph (3)(A), by striking ``$1,500,000 (or if 
        the gross loan amount would exceed $2,000,000'' and inserting 
        ``$4,500,000 (or if the gross loan amount would exceed 
        $5,000,000''.
    (b) Prospective Repeal.--Effective January 1, 2011, section 7(a) of 
the Small Business Act (15 U.S.C. 636(a)) is amended--
            (1) in paragraph (2)(A)--
                    (A) in clause (i), by striking ``90 percent'' and 
                inserting ``75 percent''; and
                    (B) in clause (ii), by striking ``90 percent'' and 
                inserting ``85 percent''; and
            (2) in paragraph (3)(A), by striking ``$4,500,000'' and 
        inserting ``$3,750,000''.

SEC. 102. MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM.

    Section 502(2)(A) of the Small Business Investment Act of 1958 (15 
U.S.C. 696(2)(A)) is amended--
            (1) in clause (i), by striking ``$1,500,000'' and inserting 
        ``$5,000,000'';
            (2) in clause (ii), by striking ``$2,000,000'' and 
        inserting ``$5,000,000'';
            (3) in clause (iii), by striking ``$4,000,000'' and 
        inserting ``$5,500,000'';
            (4) in clause (iv), by striking ``$4,000,000'' and 
        inserting ``$5,500,000''; and
            (5) in clause (v), by striking ``$4,000,000'' and inserting 
        ``$5,500,000''.

SEC. 103. MAXIMUM LOAN LIMITS UNDER MICROLOAN PROGRAM.

    Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is 
amended--
            (1) in paragraph (1)(B)(iii), by striking ``$35,000'' and 
        inserting ``$50,000'';
            (2) in paragraph (3)--
                    (A) in subparagraph (C), by striking ``$3,500,000'' 
                and inserting ``$5,000,000''; and
                    (B) in subparagraph (E), by striking ``$35,000'' 
                each place that term appears and inserting ``$50,000''; 
                and
            (3) in paragraph (11)(B), by striking ``$35,000'' and 
        inserting ``$50,000''.

SEC. 104. TEMPORARY FEE REDUCTIONS.

    Section 501 of the American Recovery and Reinvestment Act of 2009 
(Public Law 111-5; 123 Stat. 151) is amended by striking ``September 
30, 2010'' each place that term appears and inserting ``December 31, 
2010''.

SEC. 105. NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS.

    Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 
689d) is amended by adding at the end the following:
    ``(e) Investment Limitations.--
            ``(1) Definition.--In this subsection, the term `covered 
        New Markets Venture Capital company' means a New Markets 
        Venture Capital company--
                    ``(A) granted final approval by the Administrator 
                under section 354(e) on or after March 1, 2002; and
                    ``(B) that has obtained a financing from the 
                Administrator.
            ``(2) Limitation.--Except to the extent approved by the 
        Administrator, a covered New Markets Venture Capital company 
        may not acquire or issue commitments for securities under this 
        title for any single enterprise in an aggregate amount equal to 
        more than 10 percent of the sum of--
                    ``(A) the regulatory capital of the covered New 
                Markets Venture Capital company; and
                    ``(B) the total amount of leverage projected in the 
                participation agreement of the covered New Markets 
                Venture Capital.''.

SEC. 106. ALTERNATIVE SIZE STANDARDS.

    Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is 
amended by adding at the end the following:
    ``(5) Alternative Size Standard.--
            ``(A) In general.--The Administrator shall establish an 
        alternative size standard for applicants for business loans 
        under section 7(a) and applicants for development company loans 
        under title V of the Small Business Investment Act of 1958 (15 
        U.S.C. 695 et seq.), that uses maximum tangible net worth and 
        average net income as an alternative to the use of industry 
        standards.
            ``(B) Interim rule.--Until the date on which the 
        alternative size standard established under subparagraph (A) is 
        in effect, an applicant for a business loan under section 7(a) 
        or an applicant for a development company loan under title V of 
        the Small Business Investment Act of 1958 may be eligible for 
        such a loan if--
                    ``(i) the maximum tangible net worth of the 
                applicant is not more than $15,000,000; and
                    ``(ii) the average net income after Federal income 
                taxes (excluding any carry-over losses) of the 
                applicant for the 2 full fiscal years before the date 
                of the application is not more than $5,000,000.''.

SEC. 107. SALE OF 7(A) LOANS IN SECONDARY MARKET.

    Section 5(g) of the Small Business Act (15 U.S.C. 634(g)) is 
amended by adding at the end the following:
    ``(6) If the amount of the guaranteed portion of any loan under 
section 7(a) is more than $500,000, the Administrator shall, upon 
request of a pool assembler, divide the loan guarantee into increments 
of $500,000 and 1 increment of any remaining amount less than $500,000, 
in order to permit the maximum amount of any loan in a pool to be not 
more than $500,000. Only 1 increment of any loan guarantee divided 
under this paragraph may be included in the same pool. Increments of 
loan guarantees to different borrowers that are divided under this 
paragraph may be included in the same pool.''.

SEC. 108. ONLINE LENDING PLATFORM.

    It is the sense of the Congress that the Administrator of the Small 
Business Administration should establish a website that--
            (1) lists each lender that makes loans guaranteed by the 
        Small Business Administration and provides information about 
        the loan rates of each such lender; and
            (2) allows prospective borrowers to compare rates on loans 
        guaranteed by the Small Business Administration.

               TITLE II--SMALL BUSINESS ACCESS TO CAPITAL

SEC. 201. LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS 
              LOAN PROGRAM.

    (a) Refinancing.--Section 502(7) of the Small Business Investment 
Act of 1958 (15 U.S.C. 696(7)) is amended by adding at the end the 
following:
                    ``(C) Refinancing not involving expansions.--
                            ``(i) Definitions.--In this subparagraph--
                                    ``(I) the term `borrower' means a 
                                small business concern that submits an 
                                application to a development company 
                                for financing under this subparagraph;
                                    ``(II) the term `eligible fixed 
                                asset' means tangible property relating 
                                to which the Administrator may provide 
                                financing under this section; and
                                    ``(III) the term `qualified debt' 
                                means indebtedness--
                                            ``(aa) that--

                                                    ``(AA) was incurred 
                                                not less than 2 years 
                                                before the date of the 
                                                application for 
                                                assistance under this 
                                                subparagraph;

                                                    ``(BB) is a 
                                                commercial loan;

                                                    ``(CC) is not 
                                                subject to a guarantee 
                                                by a Federal agency;

                                                    ``(DD) the proceeds 
                                                of which were used to 
                                                acquire an eligible 
                                                fixed asset;

                                                    ``(EE) was incurred 
                                                for the benefit of the 
                                                small business concern; 
                                                and

                                                    ``(FF) is 
                                                collateralized by 
                                                eligible fixed assets; 
                                                and

                                            ``(bb) for which the 
                                        borrower has been current on 
                                        all payments for not less than 
                                        1 year before the date of the 
                                        application.
                            ``(ii) Authority.--A project that does not 
                        involve the expansion of a small business 
                        concern may include the refinancing of 
                        qualified debt if--
                                    ``(I) the amount of the financing 
                                is not more than 80 percent of the 
                                value of the collateral for the 
                                financing, except that, if the 
                                appraised value of the eligible fixed 
                                assets serving as collateral for the 
                                financing is less than the amount equal 
                                to 125 percent of the amount of the 
                                financing, the borrower may provide 
                                additional cash or other collateral to 
                                eliminate any deficiency;
                                    ``(II) the borrower has been in 
                                operation for all of the 2-year period 
                                ending on the date of the loan; and
                                    ``(III) for a financing for which 
                                the Administrator determines there will 
                                be an additional cost attributable to 
                                the refinancing of the qualified debt, 
                                the borrower agrees to pay a fee in an 
                                amount equal to the anticipated 
                                additional cost.
                            ``(iii) Financing for business expenses.--
                                    ``(I) Financing for business 
                                expenses.--The Administrator may 
                                provide financing to a borrower that 
                                receives financing that includes a 
                                refinancing of qualified debt under 
                                clause (ii), in addition to the 
                                refinancing under clause (ii), to be 
                                used solely for the payment of business 
                                expenses.
                                    ``(II) Application for financing.--
                                An application for financing under 
                                subclause (I) shall include--
                                            ``(aa) a specific 
                                        description of the expenses for 
                                        which the additional financing 
                                        is requested; and
                                            ``(bb) an itemization of 
                                        the amount of each expense.
                                    ``(III) Condition on additional 
                                financing.--A borrower may not use any 
                                part of the financing under this clause 
                                for non-business purposes.
                            ``(iv) Loans based on jobs.--
                                    ``(I) Job creation and retention 
                                goals.--
                                            ``(aa) In general.--The 
                                        Administrator may provide 
                                        financing under this 
                                        subparagraph for a borrower 
                                        that meets the job creation 
                                        goals under subsection (d) or 
                                        (e) of section 501.
                                            ``(bb) Alternate job 
                                        retention goal.--The 
                                        Administrator may provide 
                                        financing under this 
                                        subparagraph to a borrower that 
                                        does not meet the goals 
                                        described in item (aa) in an 
                                        amount that is not more than 
                                        the product obtained by 
                                        multiplying the number of 
                                        employees of the borrower by 
                                        $65,000.
                                    ``(II) Number of employees.--For 
                                purposes of subclause (I), the number 
                                of employees of a borrower is equal to 
                                the sum of--
                                            ``(aa) the number of full-
                                        time employees of the borrower 
                                        on the date on which the 
                                        borrower applies for a loan 
                                        under this subparagraph; and
                                            ``(bb) the product obtained 
                                        by multiplying--

                                                    ``(AA) the number 
                                                of part-time employees 
                                                of the borrower on the 
                                                date on which the 
                                                borrower applies for a 
                                                loan under this 
                                                subparagraph; by

                                                    ``(BB) the quotient 
                                                obtained by dividing 
                                                the average number of 
                                                hours each part time 
                                                employee of the 
                                                borrower works each 
                                                week by 40.

                            ``(v) Nondelegation.--Notwithstanding 
                        section 508(e), the Administrator may not 
                        permit a premier certified lender to approve or 
                        disapprove an application for assistance under 
                        this subparagraph.
                            ``(vi) Total amount of loans.--The 
                        Administrator may provide not more than a total 
                        of $4,000,000,000 of financing under this 
                        subparagraph for each fiscal year.''.
    (b) Prospective Repeal.--Effective 2 years after the date of the 
enactment of this Act, section 502(7) of the Small Business Investment 
Act of 1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C).
    (c) Technical Correction.--Section 502(2)(A)(i) of the Small 
Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(i)) is amended by 
striking ``subparagraph (B) or (C)'' and inserting ``clause (ii), 
(iii), (iv), or (v)''.