I 

118TH CONGRESS 

2D SESSION H. R. 7560 

To amend the Small Business Act to codify the Community Advantage Loan 

Program, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 6, 2024 

Ms. CHU (for herself and Ms. VELA ́ZQUEZ) introduced the following bill; which 

was referred to the Committee on Small Business 

A BILL 

To amend the Small Business Act to codify the Community 

Advantage Loan 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, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Community Advantage 

5 Loan Program Act of 2024’’. 

6 SEC. 2. COMMUNITY ADVANTAGE LOAN PROGRAM. 

7 (a) ESTABLISHMENT OF COMMUNITY ADVANTAGE

8 LOAN PROGRAM.—Section 7(a) of the Small Business Act 

9 (15 U.S.C. 636(a)) is amended by adding at the end the 

10 following: 


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1 ‘‘(38) COMMUNITY ADVANTAGE LOAN PRO2 GRAM.— 

3 ‘‘(A) PURPOSES.—The purposes of the 

4 Community Advantage Loan Program are— 

5 ‘‘(i) to create a mission-oriented loan 

6 guarantee program; 

7 ‘‘(ii) to increase lending to small busi8 ness concerns in underserved and rural 

9 markets, including to new businesses; 

10 ‘‘(iii) to ensure that the program 

11 under this subsection expands inclusion 

12 and more broadly meets congressional in13 tent to reach borrowers who are unable to 

14 get credit elsewhere on reasonable terms 

15 and conditions; 

16 ‘‘(iv) to help underserved small busi17 ness concerns become bankable by utilizing 

18 the small dollar financing and business 

19 support experience of mission-oriented 

20 lenders; 

21 ‘‘(v) to allow certain mission-oriented 

22 lenders, primarily financial intermediaries 

23 focused on economic development in under24 served markets, access to guarantees for 

25 loans under this subsection and provide 


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1 management and technical assistance to 

2 small business concerns as needed; and 

3 ‘‘(vi) to assist covered institutions 

4 with providing business support services 

5 and technical assistance to small business 

6 concerns, when needed. 

7 ‘‘(B) DEFINITIONS.—In this paragraph: 

8 ‘‘(i) COMMUNITY ADVANTAGE NET9 WORK PARTNER.—The term ‘Community 

10 Advantage Network Partner’— 

11 ‘‘(I) means a nonprofit, mission12 oriented organization that acts as a 

13 Referral Agent to covered institutions 

14 in order to expand the reach of the 

15 program to small business concerns in 

16 underserved markets; and 

17 ‘‘(II) does not include a covered 

18 institution making loans under the 

19 program. 

20 ‘‘(ii) COVERED INSTITUTION.—The 

21 term ‘covered institution’ means an entity 

22 that— 

23 ‘‘(I) is— 

24 ‘‘(aa) a development com25 pany, as defined in section 103 of 


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1 the Small Business Investment 

2 Act of 1958 (15 U.S.C. 662), 

3 participating in the program es4 tablished under title V of such 

5 Act (15 U.S.C. 695 et seq.); 

6 ‘‘(bb) a nonprofit inter7 mediary, as defined in subsection 

8 (m)(11), participating in the 

9 microloan program under sub10 section (m); 

11 ‘‘(cc) a non-Federally regu12 lated entity certified as a commu13 nity development financial insti14 tution by the Community Devel15 opment Financial Institutions 

16 Fund established under section 

17 104(a) of the Community Devel18 opment Banking and Financial 

19 Institutions Act of 1994 (12 

20 U.S.C. 4703(a)); or 

21 ‘‘(dd) an eligible inter22 mediary, as defined in subsection 

23 (l)(1), participating in the small 

24 business intermediary lending 


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1 program established under sub2 section (l)(2); 

3 ‘‘(II) has approved and disbursed 

4 10 similarly sized loans during the 24- 

5 month period preceding the date on 

6 which such entity submits an applica7 tion to participate in the program; 

8 and 

9 ‘‘(III) is servicing, as of the date 

10 on which such entity begins participa11 tion in the program, not less than 10 

12 similarly sized loans (other than a 

13 loan described in subclause (II)) to 

14 small business concerns in the port15 folio of the entity. 

16 ‘‘(iii) EXISTING BUSINESS.—The term 

17 ‘existing business’ means a small business 

18 concern that has been in existence for not 

19 less than 2 years on the date on which a 

20 loan is made to such small business con21 cern under the program. 

22 ‘‘(iv) LOW- OR MODERATE-INCOME

23 COMMUNITY.—The term ‘low- or moderate24 income community’ means a census tract 

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1 come by the Financial Institutions Exam2 ination Council on a public website of the 

3 Council. 

4 ‘‘(v) NEW BUSINESS.—The term ‘new 

5 business’ means a small business concern 

6 that has been in existence for not more 

7 than 2 years on the date on which a loan 

8 is made to such small business concern 

9 under the program. 

10 ‘‘(vi) PROGRAM.—The term ‘program’ 

11 means the Community Advantage Loan 

12 Program established under subparagraph 

13 (C). 

14 ‘‘(vii) REFERRAL AGENT.—The term 

15 ‘Referral Agent’ has the meaning given the 

16 term in section 103.1(f) of title 13, Code 

17 of Federal Regulations, or any successor 

18 regulation. 

19 ‘‘(viii) RURAL AREA.—The term ‘rural 

20 area’ means any county that the Bureau of 

21 the Census has defined as mostly rural or 

22 completely rural in the most recent decen23 nial census. 

24 ‘‘(ix) STATE.—The term ‘State’ 

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1 trict of Columbia, and each territory of the 

2 United States. 

3 ‘‘(x) SMALL BUSINESS CONCERN IN

4 UNDERSERVED MARKETS.—The term 

5 ‘small business concern in underserved 

6 markets’ means a small business concern— 

7 ‘‘(I) that is located in— 

8 ‘‘(aa) a low- or moderate-in9 come community; 

10 ‘‘(bb) a HUBZone, as that 

11 term is defined in section 31(b); 

12 ‘‘(cc) a rural area; 

13 ‘‘(dd) a community that has 

14 been designated as an empower15 ment zone or enterprise commu16 nity under section 1391 of the 

17 Internal Revenue Code of 1986; 

18 ‘‘(ee) a community that has 

19 been designated as a qualified 

20 opportunity zone under section 

21 1400Z–1 of the Internal Revenue 

22 Code of 1986; or 

23 ‘‘(ff) a community that has 

24 been designated as a promise 


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1 zone by the Secretary of Housing 

2 and Urban Development; 

3 ‘‘(II) for which more than 50 

4 percent of the employees reside in a 

5 low- or moderate-income community; 

6 ‘‘(III) that is a new business; 

7 ‘‘(IV) that is owned and con8 trolled by one or more veterans or 

9 spouses of veterans; 

10 ‘‘(V) that is located in any area 

11 for which a disaster declaration or de12 termination described in subpara13 graph (A), (B), (C), or (E) of sub14 section (b)(2) has been made that has 

15 not terminated more than 2 years be16 fore the date on which a loan is made 

17 to the small business concern under 

18 the program, except— 

19 ‘‘(aa) in the case of a dis20 aster that is not a major disaster 

21 described in subsection (b)(2)(A), 

22 the Administrator may extend 

23 such period; and 

24 ‘‘(bb) in the case of major 

25 disaster described in subsection 


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1 (b)(2)(A), that period shall be 5 

2 years; 

3 ‘‘(VI) that is owned and con4 trolled by a member of an Indian 

5 Tribe individually identified (including 

6 parenthetically) in the most recent list 

7 published pursuant to section 104 of 

8 the Federally Recognized Indian Tribe 

9 List Act of 1994 (25 U.S.C. 5131); 

10 ‘‘(VII) that is owned and con11 trolled by an individual who has com12 pleted a term of imprisonment in a 

13 Federal, State, or local jail, or prison; 

14 or 

15 ‘‘(VIII) that is owned and con16 trolled by an individual with a dis17 ability, as that term is defined in sec18 tion 3 of the Americans with Disabil19 ities Act of 1990 (42 U.S.C. 12102). 

20 ‘‘(C) ESTABLISHMENT.—There is estab21 lished a Community Advantage Loan Program 

22 under which the Administration may guarantee 

23 loans made by covered institutions under this 

24 subsection, with an emphasis on loans made to 


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1 small business concerns in underserved mar2 kets. 

3 ‘‘(D) PROGRAM LEVELS.—In fiscal year 

4 2024 and each fiscal year thereafter, not more 

5 than 10 percent of the number of loans guaran6 teed under this subsection may be guaranteed 

7 under the program. 

8 ‘‘(E) GRANDFATHERING OF EXISTING

9 LENDERS.—Any covered institution that was li10 censed by the Administrator as a Community 

11 Advantage small business lending company dur12 ing the period beginning on May 1, 2023, and 

13 ending on October 31, 2023, or that partici14 pated in the Community Advantage Pilot Pro15 gram of the Administration, and was in good 

16 standing, as determined by the Administra17 tion— 

18 ‘‘(i) shall be designated as partici19 pants in the program; 

20 ‘‘(ii) shall not be required to submit 

21 an application to participate in the pro22 gram; and 

23 ‘‘(iii) for the purpose of determining 

24 the loan loss reserve amount of the covered 

25 institution, shall have participation in the 


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1 Community Advantage Pilot Program in2 cluded in the calculation under subpara3 graph (J). 

4 ‘‘(F) REQUIREMENT TO MAKE LOANS TO

5 UNDERSERVED MARKETS.—Not less than 60 

6 percent of loans made by a covered institution 

7 under the program shall consist of loans made 

8 to small business concerns in underserved mar9 kets. 

10 ‘‘(G) MAXIMUM LOAN AMOUNT; COLLAT11 ERAL.— 

12 ‘‘(i) MAXIMUM LOAN AMOUNT.— 

13 ‘‘(I) IN GENERAL.—Except as 

14 provided in subclause (II), the max15 imum loan amount for a loan guaran16 teed under the program is $350,000. 

17 ‘‘(II) EXPERIENCED LENDERS.— 

18 ‘‘(aa) IN GENERAL.—The 

19 Administrator may select not 

20 more than 8 covered institutions 

21 to be designated as ‘experienced 

22 lenders’ to be eligible to make 

23 loans under this paragraph. An 

24 experienced lender shall have not 

25 less than 5 years of experience 


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1 making loans under the Commu2 nity Advantage Pilot Program of 

3 the Administration or the pro4 gram established under this para5 graph. 

6 ‘‘(bb) MAXIMUM LOAN

7 AMOUNT.—An experienced lender 

8 may make a loan guaranteed 

9 under the program in an amount 

10 that is not more than $750,000, 

11 but not less than 60 percent of 

12 the total number of such loans 

13 made by an experienced lender 

14 shall be in an amount that is less 

15 than or equal to $350,000. 

16 ‘‘(cc) PARTICIPATION BY

17 THE ADMINISTRATION.—With re18 spect to an agreement to partici19 pate in a loan made under this 

20 subclause on a deferred basis, the 

21 participation by the Administra22 tion shall be— 

23 ‘‘(AA) 75 percent of the 

24 balance of the financing out25 standing at the time of the 


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1 disbursement of the loan, if 

2 that balance is more than 

3 $350,000; 

4 ‘‘(BB) as described in 

5 clause (i) of paragraph 

6 (2)(G), if the balance of the 

7 financing outstanding at the 

8 time of the disbursement of 

9 the loan is as described in 

10 that clause; or 

11 ‘‘(CC) as described in 

12 clause (ii) of paragraph 

13 (2)(G), if the balance of the 

14 financing outstanding at the 

15 time of the disbursement of 

16 the loan is as described in 

17 that clause. 

18 ‘‘(ii) COLLATERAL.— 

19 ‘‘(I) IN GENERAL.—A covered in20 stitution may not require collateral 

21 with respect to a loan guaranteed 

22 under the program if the amount of 

23 that loan is less than or equal to 

24 $50,000. 


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1 ‘‘(II) POLICIES AND PROCE2 DURES OF COVERED INSTITUTION.— 

3 In determining the amount of collat4 eral required with respect to a loan 

5 guaranteed under the program, a cov6 ered institution may use the collateral 

7 policies and procedures of the covered 

8 institution with respect to similarly 

9 sized commercial loans made by the 

10 covered institution that are not guar11 anteed by the Administrator. 

12 ‘‘(H) INTEREST RATES.—The maximum 

13 allowable interest rate prescribed by the Admin14 istration on any financing made on a deferred 

15 basis pursuant to the program shall not exceed 

16 the maximum allowable interest rate under sec17 tions 120.213 and 120.214 of title 13, Code of 

18 Federal Regulations, or any successor regula19 tions. 

20 ‘‘(I) REFINANCING OF COMMUNITY ADVAN21 TAGE PROGRAM LOANS.—A loan guaranteed 

22 under the program or guaranteed under the 

23 Community Advantage Pilot Program of the 

24 Administration may be refinanced into another 


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1 loan under this subsection that is made by a 

2 lender that does not participate in the program. 

3 ‘‘(J) LOAN LOSS RESERVE REQUIRE4 MENTS.— 

5 ‘‘(i) LOAN LOSS RESERVE ACCOUNT

6 FOR COVERED INSTITUTIONS.—A covered 

7 institution— 

8 ‘‘(I) with not more than 5 years 

9 of participation in the program shall 

10 maintain a loan loss reserve account 

11 with an amount equal to 5 percent of 

12 the outstanding amount of the 

13 unguaranteed portion of the loan 

14 portfolio of the covered institution 

15 under the program; and 

16 ‘‘(II) with more than 5 years of 

17 participation in the program shall 

18 maintain a loan loss reserve account 

19 with an amount equal to the average 

20 repurchase rate of the covered institu21 tion over the 36-month period pre22 ceding the most recent recalculation 

23 conducted under clause (iii), except 

24 that such amount shall not be less 

25 than 3 percent of the outstanding 


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1 amount of the unguaranteed portion 

2 of the loan portfolio of the covered in3 stitution under the program. 

4 ‘‘(ii) ADDITIONAL LOAN LOSS RE5 SERVE AMOUNT FOR SELLING LOANS ON

6 THE SECONDARY MARKET.—In addition to 

7 the amount required in the loan loss re8 serve account under clause (i), a covered 

9 institution that sells a program loan on the 

10 secondary market shall be required to 

11 maintain the following additional amounts 

12 in the loan loss reserve account: 

13 ‘‘(I) For a covered institution 

14 with less than 5 years of experience 

15 selling program loans on the sec16 ondary market, an amount equal to 3 

17 percent of the guaranteed portion of 

18 each program loan sold on the sec19 ondary market. 

20 ‘‘(II) For a covered institution 

21 with more than 5 years of experience 

22 selling program loans on the sec23 ondary market, an amount equal to 

24 the average repurchase rate for loans 

25 sold by the covered institution on the 


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1 secondary market over the 36-month 

2 period preceding the most recent re3 calculation conducted under clause 

4 (iii), except that such amount shall be 

5 not less than 2 percent of the guaran6 teed portion of each program loan 

7 sold into the secondary market. 

8 ‘‘(iii) RECALCULATION.—On October 

9 1 of each year, the Administrator shall re10 calculate the loan loss reserve required 

11 under clauses (i) and (ii). 

12 ‘‘(K) TRAINING.— 

13 ‘‘(i) IN GENERAL.—Upon the initial 

14 entry of a covered institution into the pro15 gram, and on an ongoing basis, the Admin16 istrator shall provide accessible trainings to 

17 support compliance by the covered institu18 tion with program requirements and to im19 prove communication between the covered 

20 institution and the Administration. Such 

21 trainings shall include— 

22 ‘‘(I) guidance with respect to the 

23 program for following the regulations 

24 of the Administration; and 


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1 ‘‘(II) guidance for covered insti2 tutions participating in the program 

3 that is intended to help lenders effec4 tively reach and support small busi5 ness concerns in underserved markets, 

6 including management and technical 

7 assistance delivery. 

8 ‘‘(ii) CONTRACT.—The Administrator 

9 may enter into a contract to provide any 

10 training described in clause (i) with an or11 ganization— 

12 ‘‘(I) with expertise in lending 

13 under this subsection; and primarily 

14 specializing in— 

15 ‘‘(aa) mission-oriented lend16 ing; and 

17 ‘‘(bb) lending to small busi18 ness concerns in underserved 

19 markets. 

20 ‘‘(iii) OTHER REQUIREMENTS.—The 

21 Administrator shall provide any training 

22 described in clause (i) for the employees 

23 and contractors of the Administration that 

24 regularly engage with covered institutions 

25 or borrowers under the program. 


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1 ‘‘(L) COMMUNITY ADVANTAGE OUTREACH

2 AND EDUCATION.—The Administrator— 

3 ‘‘(i) shall develop and implement a 

4 plan— 

5 ‘‘(I) to promote the program to 

6 prospective covered institutions; and 

7 ‘‘(II) to conduct outreach and 

8 educate prospective covered institu9 tions about the program; and 

10 ‘‘(ii) may enter into contracts with 1 

11 or more nonprofit organizations experi12 enced in working with and training mis13 sion-driven lenders (that are not Commu14 nity Advantage Network Partners) to pro15 vide the promotion, outreach, and edu16 cation described in clause (i). 

17 ‘‘(M) COMMUNITY ADVANTAGE NETWORK

18 PARTNER PARTICIPATION.— 

19 ‘‘(i) IN GENERAL.—A covered institu20 tion that uses a Community Advantage 

21 Network Partner shall abide by policies 

22 and procedures of the Administration con23 cerning the use of Referral Agent fees per24 mitted by the Administration and disclo25 sure of those fees. 


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1 ‘‘(ii) PAYMENT OF FEES.—Notwith2 standing any other provision of law, all 

3 fees described in clause (i) shall be paid by 

4 the covered institution to the Community 

5 Advantage Network Partner upon dis6 bursement of the applicable program loan. 

7 ‘‘(N) DELEGATED AUTHORITY.—A covered 

8 institution is not eligible to receive delegated 

9 authority from the Administration under the 

10 program until the covered institution has satis11 fied the following applicable requirements: 

12 ‘‘(i) For a covered institution actively 

13 participating in the Community Advantage 

14 Pilot Program of the Administration, as of 

15 the day before the date of enactment of 

16 this paragraph— 

17 ‘‘(I) the covered institution has 

18 approved and fully disbursed not 

19 fewer than 10 loans under that Pilot 

20 Program; and 

21 ‘‘(II) the Administrator has eval22 uated the ability of the covered insti23 tution to fulfill program requirements. 

24 ‘‘(ii) For any covered institution not 

25 described in clause (i)— 


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1 ‘‘(I) the covered institution has 

2 approved and fully disbursed not 

3 fewer than 20 loans under the pro4 gram; and 

5 ‘‘(II) the Administrator has eval6 uated the ability of the covered insti7 tution to fulfill program requirements. 

8 ‘‘(O) REPORTING.— 

9 ‘‘(i) WEEKLY REPORTS.— 

10 ‘‘(I) IN GENERAL.—The Admin11 istrator shall report on the website of 

12 the Administration, as part of the 

13 weekly reports on lending approvals 

14 under this subsection— 

15 ‘‘(aa) on and after the date 

16 of enactment of this paragraph, 

17 the number and dollar amount of 

18 loans guaranteed under the Com19 munity Advantage Pilot Program 

20 of the Administration; and 

21 ‘‘(bb) on and after the date 

22 on which the Administrator be23 gins to approve loans under the 

24 program, the number and dollar 


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1 amount of loans guaranteed 

2 under the program. 

3 ‘‘(II) SEPARATE ACCOUNTING.— 

4 The number and dollar amount of 

5 loans reported in a weekly report 

6 under subclause (I) for loans guaran7 teed under the Community Advantage 

8 Pilot Program of the Administration 

9 and under the program shall include a 

10 breakdown by the demographic infor11 mation of the owners of the small 

12 business concerns, by whether the 

13 small business concern is a new busi14 ness or an existing business, and by 

15 whether the small business concern is 

16 located in an urban area or rural 

17 area, further disaggregated by— 

18 ‘‘(aa) loans less than or 

19 equal to $50,000; 

20 ‘‘(bb) loans greater than 

21 $50,000 and less than or equal 

22 to $150,000; 

23 ‘‘(cc) loans greater than 

24 $150,000 and less than or equal 

25 to $250,000; 


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1 ‘‘(dd) loans greater than 

2 $250,000 and less than or equal 

3 to $350,000; and 

4 ‘‘(ee) loans greater than 

5 $350,000 and less than or equal 

6 to $750,000. 

7 ‘‘(ii) ANNUAL REPORTS.— 

8 ‘‘(I) IN GENERAL.—For each fis9 cal year in which the program is in ef10 fect, the Administration shall submit 

11 to the Committee on Small Business 

12 and Entrepreneurship of the Senate 

13 and the Committee on Small Business 

14 of the House of Representatives, and 

15 make publicly available on the inter16 net, information about loans provided 

17 under the program and under the 

18 Community Advantage Pilot Program 

19 of the Administration. 

20 ‘‘(II) CONTENTS.—Each report 

21 submitted and made publicly available 

22 under subclause (I) shall include— 

23 ‘‘(aa) the number and dollar 

24 amounts of loans provided to 

25 small business concerns under 


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1 the program, including a break2 down by— 

3 ‘‘(AA) the demographic 

4 information of the owners of 

5 the small business concern; 

6 ‘‘(BB) whether the 

7 small business concern is lo8 cated in an urban area or 

9 rural area; and 

10 ‘‘(CC) whether the 

11 small business concern is an 

12 existing business or a new 

13 business, as provided in the 

14 weekly reports on lending 

15 approvals under this sub16 section; 

17 ‘‘(bb) the proportion of loans 

18 described in item (aa) compared 

19 to— 

20 ‘‘(AA) other loans made 

21 under this subsection of any 

22 amount; 

23 ‘‘(BB) other loans 

24 made under this subsection 

25 of similar amounts; 


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1 ‘‘(CC) express loans 

2 provided under paragraph 

3 (31) of similar amounts; and 

4 ‘‘(DD) other loans 

5 made under this subsection 

6 of similar amounts provided 

7 to small business concerns 

8 in underserved markets; 

9 ‘‘(cc) a comparison of the 

10 number and dollar amounts of 

11 loans provided to small business 

12 concerns under the program and 

13 under each category of loans de14 scribed in item (aa), broken down 

15 by— 

16 ‘‘(AA) loans less than 

17 or equal to $50,000; 

18 ‘‘(BB) loans greater 

19 than $50,000 and less than 

20 or equal to $150,000; 

21 ‘‘(CC) loans greater 

22 than $150,000 and less than 

23 or equal to $250,000; 


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1 ‘‘(DD) loans greater 

2 than $250,000 and less than 

3 or equal to $350,000; and 

4 ‘‘(EE) loans greater 

5 than $350,000 and less than 

6 or equal to $750,000; 

7 ‘‘(dd) the number and dollar 

8 amounts of loans provided to 

9 small business concerns under 

10 the program by State, and the 

11 jobs created or retained within 

12 each State; and 

13 ‘‘(ee) a list of covered insti14 tutions participating in the pro15 gram and the Community Advan16 tage Pilot Program of the Ad17 ministration, including— 

18 ‘‘(AA) the name, loca19 tion, and contact informa20 tion, such as the website and 

21 telephone number, of each 

22 covered institution; and 

23 ‘‘(BB) a breakdown by 

24 the number and dollar 

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1 proved for small business 

2 concerns. 

3 ‘‘(III) TIMING.—An annual re4 port required under this clause 

5 shall— 

6 ‘‘(aa) be submitted and 

7 made publicly available not later 

8 than December 1 of each year; 

9 and 

10 ‘‘(bb) cover the lending ac11 tivity for the fiscal year that 

12 ended on September 30 of that 

13 same year. 

14 ‘‘(P) GAO REPORT.—Not later than 5 

15 years after the date of the enactment of this 

16 paragraph, the Comptroller General of the 

17 United States shall submit to the Adminis18 trator, the Committee on Small Business and 

19 Entrepreneurship of the Senate, and the Com20 mittee on Small Business of the House of Rep21 resentatives a report— 

22 ‘‘(i) assessing— 

23 ‘‘(I) the extent to which the pro24 gram fulfills the requirements of this 

25 paragraph; and 


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1 ‘‘(II) the performance of covered 

2 institutions participating in the pro3 gram; and 

4 ‘‘(ii) providing recommendations on 

5 the administration of the program and the 

6 findings under subclauses (I) and (II) of 

7 clause (i). 

8 ‘‘(Q) REGULATIONS.— 

9 ‘‘(i) IN GENERAL.—Not later than 

10 180 days after the date of enactment of 

11 this paragraph, the Administrator shall 

12 issue rules governing the program, includ13 ing metrics for lender performance, metrics 

14 of success and benchmarks of the program, 

15 and criteria for appropriate management 

16 and technical assistance. 

17 ‘‘(ii) UPDATES.—The Administrator 

18 shall consult the report submitted under 

19 subparagraph (P) and, not later than 180 

20 days after the date on which the Comp21 troller General of the United States sub22 mits such report, amend any existing rules 

23 of the Administration based on the rec24 ommendations contained in such report.’’. 


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1 (b) PARTICIPATION.—Section 7(a)(2) of the Small 

2 Business Act (15 U.S.C. 636(a)(2)) is amended— 

3 (1) in subparagraph (A), in the matter pre4 ceding clause (i), by striking ‘‘and (F)’’ and insert5 ing ‘‘(F), and (G)’’; and 

6 (2) by adding at the end the following: 

7 ‘‘(G) PARTICIPATION IN THE COMMUNITY

8 ADVANTAGE LOAN PROGRAM.—Subject to sub9 paragraph (G)(i)(II)(cc) of paragraph (38), in 

10 an agreement to participate in a loan on a de11 ferred basis under that paragraph, the partici12 pation by the Administration shall be— 

13 ‘‘(i) 80 percent of the balance of the 

14 financing outstanding at the time of the 

15 disbursement of the loan, if that balance is 

16 greater than $150,000 and less than or 

17 equal to $350,000; or 

18 ‘‘(ii) 90 percent of the balance of the 

19 financing outstanding at the time of the 

20 disbursement of the loan, if that balance is 

21 less than or equal to $150,000.’’. 

Æ 


dmwilson on DSKJM0X7X2PROD with BILLS