115TH CONGRESS 

1ST SESSION H. R. 2056 

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, 
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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Microloan Moderniza3 tion Act of 2017’’. 

4 SEC. 2. DEFINITIONS. 

5 In this Act— 

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

7 given that 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. MICROLOAN TECHNICAL ASSISTANCE. 

18 Section 7(m)(4)(E) of the Small Business Act (15 

19 U.S.C. 636(m)(4)(E)) is amended by striking ‘‘25 per20 cent’’ each place such term appears and inserting ‘‘50 per21 cent’’. 

22 SEC. 5. SBA STUDY OF MICROENTERPRISE PARTICIPATION. 

23 Not later than 1 year after the date of enactment 

24 of this Act, the Administrator of the Small Business Ad25 ministration shall conduct a study and submit to the Com26 mittee on Small Business and Entrepreneurship of the 
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1 Senate and the Committee on Small Business of the 

2 House of Representatives a report on— 

3 (1) the operations (including services provided, 

4 structure, size, and area of operation) of a rep5 resentative sample of— 

6 (A) intermediaries that are eligible to par7 ticipate in the microloan program and that do 

8 participate; and 

9 (B) intermediaries that are eligible to par10 ticipate in the microloan program and that do 

11 not participate; 

12 (2) the reasons why eligible intermediaries de13 scribed in paragraph (1)(B) choose not to partici14 pate in the microloan program; 

15 (3) recommendations on how to encourage in16 creased participation in the microloan program by 

17 eligible intermediaries described in paragraph 

18 (1)(B); and 

19 (4) recommendations on how to decrease the 

20 costs associated with participation in the microloan 

21 program for eligible intermediaries. 

22 SEC. 6. GAO STUDY ON MICROLOAN INTERMEDIARY PRAC23 TICES. 

24 Not later than 1 year after the date of enactment 

25 of this Act, the Comptroller General of the United States 
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1 shall submit to the Committee on Small Business and En2 trepreneurship of the Senate and the Committee on Small 

3 Business of the House of Representatives a report evalu4 ating— 

5 (1) oversight of the microloan program by the 

6 Small Business Administration, including oversight 

7 of intermediaries participating in the microloan pro8 gram; and 

9 (2) the specific processes used by the Small 

10 Business Administration to ensure— 

11 (A) compliance by intermediaries partici12 pating in the microloan program; and 

13 (B) the overall performance of the 

14 microloan program. 

Passed the House of Representatives July 24, 2017. 

Attest: 

Clerk. 

115TH CONGRESS 

1ST SESSION H. R. 2056 

AN ACT 

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