I 

111TH CONGRESS 

1ST SESSION H. R. 2281 

To establish a temporary program in the Small Business Administration 

to assist small business concerns by decreasing interest payments for 

certain loans, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 6, 2009 

Mr. KAGEN (for himself and Mr. EDWARDS of Texas) introduced the following 

bill; which was referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To establish a temporary program in the Small Business 

Administration to assist small business concerns by decreasing interest payments for certain loans, 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 ‘‘Small Business Oppor5 tunity Act of 2009’’. 


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1 SEC. 2. INTEREST PAYMENT ASSISTANCE FOR SMALL BUSI2 NESS CONCERNS WITH ELIGIBLE LOANS. 

3 (a) IN GENERAL.—To the extent of the funding made 

4 available under subsection (g), the Administrator of the 

5 Small Business Administration shall establish and imple6 ment a program under which the Administrator shall 

7 make, for each eligible loan of a small business concern— 

8 (1) 100 percent of the payment of interest due 

9 each billing cycle with respect to such loan, during 

10 the period beginning on the effective date of this Act 

11 and ending at the conclusion of the first full fiscal 

12 year following such date; 

13 (2) 75 percent of the payment of interest due 

14 each billing cycle with respect to such loan, during 

15 the second full fiscal year following such date; and 

16 (3) 50 percent of the payment of interest due 

17 each billing cycle with respect to such loan, during 

18 the third full fiscal year following such date. 

19 (b) TERMINATION OF PROGRAM.—The authority of 

20 the Administrator to make payments under subsection (a) 

21 terminates at the conclusion of the third full fiscal year 

22 following the effective date of this Act. 

23 (c) PAYMENTS MADE TO LENDER.—The Adminis24 trator shall make the payments under subsection (a) di25 rectly to the financial institution to which such payments 

26 are due. 


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1 (d) NO FORCED REIMBURSEMENT.—The Adminis2 trator may not require a small business concern to reim3 burse a payment appropriately made for such concern 

4 under subsection (a). 

5 (e) INTEREST RATES DURING PROGRAM.—If the in6 terest rate for an eligible loan is negotiated subject to a 

7 maximum allowable rate imposed by the Small Business 

8 Administration, the financial institution making such loan 

9 may treat the interest rate of such loan as the maximum 

10 allowable rate during the period that the Administrator 

11 makes payments under subsection (a) with respect to such 

12 loan. On the date that the Administrator makes the final 

13 payment under subsection (a) with respect to such loan, 

14 the interest rate of such loan shall return to the rate origi15 nally negotiated. 

16 (f) DEFINITIONS.—In this section, the following defi17 nitions apply: 

18 (1) ELIGIBLE LOAN.—The term ‘‘eligible loan’’ 

19 means a loan guaranteed by the Small Business Ad20 ministration and entered into after the effective date 

21 of this Act. 

22 (2) SMALL BUSINESS CONCERN.—The term 

23 ‘‘small business concern’’ has the meaning given 

24 such term in section 3 of the Small Business Act 

25 (15 U.S.C. 632). 


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1 (g) FUNDING.—Of the amounts made available under 

2 title I of the Emergency Economic Stabilization Act of 

3 2008 (Public Law 110–343; 12 U.S.C. 5201 et seq.), the 

4 Secretary of the Treasury shall make available to the Ad5 ministrator of the Small Business Administration the 

6 amount requested by the Administrator to carry out this 

7 section, but not to exceed $3,375,000,000, and such 

8 amount shall be treated as having been made available for 

9 activities authorized by such Act. 

10 (h) EFFECTIVE DATE.—This Act takes effect on the 

11 date that is 60 days after the date of the enactment of 

12 this Act. 

Æ 


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