I 

111TH CONGRESS 

2D SESSION H. R. 4598 

To amend the Small Business Act to improve the Express Loan Program, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 4, 2010 

Mrs. DAHLKEMPER (for herself, Ms. BEAN, Mr. POMEROY, Mr. WELCH, Mr. 

ALTMIRE, Ms. KOSMAS, Mr. RYAN of Ohio, Mr. SCHRADER, Mr. BRIGHT, 

Ms. SCHWARTZ, Mr. DRIEHAUS, Mr. PETERS, Ms. RICHARDSON, Mr. 

KLEIN of Florida, Ms. WASSERMAN SCHULTZ, Mr. GRAYSON, Mr. 

MCMAHON, Mr. DONNELLY of Indiana, and Mr. SHUSTER) introduced 

the following bill; which was referred to the Committee on Small Business 

A BILL 

To amend the Small Business Act to improve the Express 

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 ‘‘Express Loans Im5 provements Act of 2010’’. 

6 SEC. 2. IMPROVEMENT OF EXPRESS LOAN PROGRAM. 

7 (a) GUARANTY RATE.— 

8 (1) TEMPORARY INCREASE.— 


srobinson on DSKHWCL6B1PROD with BILLS
2 

•HR 4598 IH

1 (A) IN GENERAL.—Section 7(a)(31)(A)(iii) 

2 of the Small Business Act (15 U.S.C. 

3 636(a)(31)(A)(iii)) is amended by striking ‘‘50 

4 percent’’ and inserting ‘‘75 percent’’. 

5 (B) EFFECTIVE DATES.—The amendment 

6 under subparagraph (A) shall take effect on the 

7 date of enactment of this Act and shall cease to 

8 have effect on the date that is 2 years after 

9 such date. 

10 (2) PERMANENT INCREASE.— 

11 (A) IN GENERAL.—The percentage speci12 fied in section 7(a)(31)(A)(iii) of the Small 

13 Business Act (15 U.S.C. 636(a)(31)(A)(iii)) is 

14 amended to read ‘‘60 percent’’. 

15 (B) EFFECTIVE DATE.—The amendment 

16 under subparagraph (A) shall take effect on the 

17 date that is 2 years after the date of enactment 

18 of this Act. 

19 (b) MAXIMUM LOAN AMOUNT.—Section 7(a)(31)(D) 

20 of the Small Business Act (15 U.S.C. 636(a)(31)(D)) is 

21 amended by striking ‘‘$350,000’’ and inserting 

22 ‘‘$1,000,000’’. 

23 (c) REGULATIONS.—Not later than 180 days after 

24 the date of enactment of this Act, the Administrator of 

25 the Small Business Administration shall issue regulations 


srobinson on DSKHWCL6B1PROD with BILLS
3 

•HR 4598 IH

1 with respect to the loan eligibility, lender eligibility, and 

2 collateral requirements (including lien protection for lend3 ers) of the Express Loan Program under section 7(a)(31) 

4 of the Small Business Act (15 U.S.C. 636(a)(31)) that 

5 minimize, with respect to the Federal Government, the 

6 risk of loss associated with such Program. 

7 (d) REPORTS.—Not later than one year after the date 

8 of enactment of this Act and annually thereafter, the Ad9 ministrator of the Small Business Administration shall 

10 submit to the Committee on Small Business of the House 

11 of Representatives and the Committee on Small Business 

12 and Entrepreneurship of the Senate a report describing 

13 the implementation of the Express Loan Program under 

14 section 7(a)(31) of the Small Business Act (15 U.S.C. 

15 636(a)(31)), including actions taken to reduce default 

16 rates with respect to such Program. 

Æ 


srobinson on DSKHWCL6B1PROD with BILLS