115TH CONGRESS 

2D SESSION S. 526 

AN ACT 

To amend the Small Business Act to provide for expanded 

participation in the microloan program, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 
2 

†S 526 ES

1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Microloan Moderniza3 tion Act of 2018’’. 

4 SEC. 2. DEFINITIONS. 

5 In this Act— 

6 (1) the term ‘‘intermediary’’ has the meaning 

7 given the term in section 7(m)(11) of the Small 

8 Business Act (15 U.S.C. 636(m)(11)); and 

9 (2) the term ‘‘microloan program’’ means the 

10 program established under section 7(m) of the Small 

11 Business Act (15 U.S.C. 636(m)). 

12 SEC. 3. MICROLOAN INTERMEDIARY LENDING LIMIT IN13 CREASED. 

14 Section 7(m)(3)(C) of the Small Business Act (15 

15 U.S.C. 636(m)(3)(C)) is amended by striking 

16 ‘‘$5,000,000’’ and inserting ‘‘$6,000,000’’. 

17 SEC. 4. SBA STUDY OF MICROENTERPRISE PARTICIPATION. 

18 Not later than 1 year after the date of enactment 

19 of this Act, the Administrator of the Small Business Ad20 ministration shall conduct a study and submit to the Com21 mittee on Small Business and Entrepreneurship of the 

22 Senate and the Committee on Small Business of the 

23 House of Representatives a report on— 

24 (1) the operations (including services provided, 

25 structure, size, and area of operation) of a rep26 resentative sample of— 
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†S 526 ES

1 (A) intermediaries that are eligible to par2 ticipate in the microloan program and that do 

3 participate; and 

4 (B) intermediaries (including those oper5 ated for profit, operated not for profit, and 

6 those affiliated with a United States institution 

7 of higher learning) that are eligible to partici8 pate in the microloan program and that do not 

9 participate; 

10 (2) the reasons why intermediaries described in 

11 paragraph (1)(B) choose not to participate in the 

12 microloan program; 

13 (3) recommendations on how to encourage in14 creased participation in the microloan program by 

15 intermediaries described in paragraph (1)(B); and 

16 (4) recommendations on how to decrease the 

17 costs associated with participation in the microloan 

18 program for eligible intermediaries. 

19 SEC. 5. GAO STUDY ON MICROLOAN INTERMEDIARY PRAC20 TICES. 

21 Not later than 1 year after the date of enactment 

22 of this Act, the Comptroller General of the United States 

23 shall submit to the Committee on Small Business and En24 trepreneurship of the Senate and the Committee on Small 
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†S 526 ES

1 Business of the House of Representatives a report evalu2 ating— 

3 (1) oversight of the microloan program by the 

4 Small Business Administration, including oversight 

5 of intermediaries participating in the microloan pro6 gram; and 

7 (2) the specific processes used by the Small 

8 Business Administration to ensure— 

9 (A) compliance by intermediaries partici10 pating in the microloan program; and 

11 (B) the overall performance of the 

12 microloan program. 

Passed the Senate July 18, 2018. 

Attest: 

Secretary. 

115TH CONGRESS 

2D SESSION S. 526 

AN ACT 

To amend the Small Business Act to provide for exand for other purposes. panded participation in the microloan program,