A bill to temporarily raise the limits on certain loans under the Small Business Act and the Small Business Investment Act of 1958, and for other purposes.

Summary: Small Business Emergency Loan Relief Act of 2009 - Amends the Small Business Act and the Small Business Investment Act of 1958 to raise, until January 1, 2011, the maximum amounts of loans for the benefit of small businesses under the following Small Business Administration (SBA) programs: (1) the 7(a) program (general business loans); (2) the 504 program (loans to state and local development companies to make small business loans for plant acquisition, construction, conversion, or expansion); and (3) the Microloan program (small-scale loans to start-up, newly-established, or growing small businesses).

Allows a small business owner receiving financing under the SBA local development business loan program to refinance, and add to SBA financing costs, a non-SBA indebtedness, as long as the project for which the SBA financing is approved does not involve expansion of the participant's small business.

Amends the American Recovery and Reinvestment Act of 2009 to increase the maximum loan amount authorized for small businesses under the business stabilization program.

Suspends certain SBA loan fees during the period beginning on the date of enactment of this Act and ending on January 1, 2011.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Emergency Loan Relief 
Act of 2009''.

SEC. 2. TEMPORARY INCREASE IN MAXIMUM LOAN AMOUNTS AND USE OF 
              REFINANCES.

    (a) In General.--
            (1) Maximum amounts for 7(a) loans.--Section 7(a)(3)(A) of 
        the Small Business Act (15 U.S.C. 636(a)(3)(A)) is amended 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''.
            (2) 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--
                    (A) in clause (i), by striking ``$1,500,000'' and 
                inserting ``$4,000,000'';
                    (B) in clause (ii), by striking ``$2,000,000'' and 
                inserting ``$5,000,000'';
                    (C) in clause (iii), by striking ``$4,000,000'' and 
                inserting ``$5,500,000'';
                    (D) in clause (iv), by striking ``$4,000,000'' and 
                inserting ``$5,500,000''; and
                    (E) in clause (v), by striking ``$4,000,000'' and 
                inserting ``$5,500,000''.
            (3) Maximum loan limits under microloan program.--Section 
        7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended--
                    (A) in paragraph (1)(B)(iii), by striking 
                ``$35,000'' and inserting ``$50,000'';
                    (B) in paragraph (3)(E), by striking ``$35,000'' 
                each place it appears and inserting ``$50,000''; and
                    (C) in paragraph (11)(B), by striking ``$35,000'' 
                and inserting ``$50,000''.
            (4) Low interest refinancing under the local development 
        business loan program.--Section 502(7) of the Small Business 
        Investment Act of 1958 (15 U.S.C. 696(7)) is amended--
                    (A) in subparagraph (A), by inserting ``, including 
                a financing that does not involve an expansion of a 
                small business concern,'' after ``under this title''; 
                and
                    (B) by adding at the end the following:
                    ``(C) Refinancing not involving expansions.--If the 
                project for which a financing is approved under this 
                title does not involve the expansion of a small 
                business concern, any amount of existing indebtedness 
                may be refinanced and added to the project cost if--
                            ``(i) the total amount of the financing is 
                        not more than 80 percent of the value of the 
                        collateral for the financing;
                            ``(ii) the small business concern has been 
                        in operation for all of the 2-year period 
                        ending on the date of the financing;
                            ``(iii) the existing indebtedness was not 
                        incurred during the 2-year period ending on the 
                        date of the financing;
                            ``(iv) the existing indebtedness is not 
                        subject to a guarantee by any Federal agency; 
                        and
                            ``(v) in any case in which the 
                        Administrator determines that there will be an 
                        additional cost for making a loan that includes 
                        the refinancing of the existing indebtedness, 
                        the borrower agrees to pay a fee in an amount 
                        equal to the anticipated additional cost.''.
            (5) Business stabilization program.--Section 506(d) of 
        division A of the American Recovery and Reinvestment Act of 
        2009 (Public Law 111-5; 123 Stat. 157) is amended by striking 
        ``$35,000'' and inserting ``$50,000''.
    (b) Fees.--During the period beginning on the date of enactment of 
this Act and ending on January 1, 2011--
            (1) with respect to each loan guaranteed under section 7(a) 
        of the Small Business Act (15 U.S.C. 636(a)), the Administrator 
        of the Small Business Administration (in this subsection 
        referred to as the ``Administrator'') shall, in lieu of the 
        fees otherwise applicable under paragraphs (23)(A) and (18)(A) 
        of section 7(a) of the Small Business Act (15 U.S.C. 636(a)), 
        collect no fee;
            (2) the Administrator shall, in lieu of the fee otherwise 
        applicable under section 503(d)(2) of the Small Business 
        Investment Act of 1958 (15 U.S.C. 697(d)(2)) for an institution 
        described in subclause (I), (II), or (III) of section 
        502(3)(B)(i) of that Act (15 U.S.C. 696(3)(B)(i)), for any loan 
        guarantee or project subject to such subsection, collect no 
        fee; and
            (3) the Administrator shall, in lieu of the fee otherwise 
        applicable under section 503(d)(3) of the Small Business 
        Investment Act of 1958 (15 U.S.C. 697(d)(3)), collect no fee.
    (c) Prospective Repeal.--
            (1) In general.--
                    (A) Maximum amounts for 7(a) loans.--Section 
                7(a)(3)(A) of the Small Business Act (15 U.S.C. 
                636(a)(3)(A)) is amended by striking ``$4,500,000 (or 
                if the gross loan amount would exceed $5,000,000'' and 
                inserting ``$1,500,000 (or if the gross loan amount 
                would exceed $2,000,000''.
                    (B) 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--
                            (i) in clause (i), by striking 
                        ``$4,000,000'' and inserting ``$1,500,000'';
                            (ii) in clause (ii), by striking 
                        ``$5,000,000'' and inserting ``$2,000,000'';
                            (iii) in clause (iii), by striking 
                        ``$5,500,000'' and inserting ``$4,000,000'';
                            (iv) in clause (iv), by striking 
                        ``$5,500,000'' and inserting ``$4,000,000''; 
                        and
                            (v) in clause (v), by striking 
                        ``$5,500,000'' and inserting ``$4,000,000''.
                    (C) Maximum loan limits under microloan program.--
                Section 7(m) of the Small Business Act (15 U.S.C. 
                636(m)) is amended--
                            (i) in paragraph (1)(B)(iii), by striking 
                        ``$50,000'' and inserting ``$35,000'';
                            (ii) in paragraph (3)(E), by striking 
                        ``$50,000'' each place it appears and inserting 
                        ``$35,000''; and
                            (iii) in paragraph (11)(B), by striking 
                        ``$50,000'' and inserting ``$35,000''.
                    (D) Low interest refinancing under the local 
                development business loan program.--Section 502(7) of 
                the Small Business Investment Act of 1958 (15 U.S.C. 
                696(7)) is amended--
                            (i) in subparagraph (A), by striking ``, 
                        including a financing that does not involve an 
                        expansion of a small business concern,''; and
                            (ii) by striking subparagraph (C).
            (2) Effective date.--The amendments made by paragraph (1) 
        shall take effect on January 1, 2011.