I 

111TH CONGRESS 

2D SESSION H. R. 5445 

To establish a program for providing loan guarantees and interest rate subsidies for successful companies to establish and implement long-term 

United States growth plans, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 27, 2010 

Mr. PERLMUTTER (for himself and Mr. COFFMAN of Colorado) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To establish a program for providing loan guarantees and 

interest rate subsidies for successful companies to establish and implement long-term United States growth 

plans, 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 ‘‘Incentives for Success5 ful Small Businesses Act of 2010’’. 


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1 SEC. 2. TREASURY LOAN GUARANTEES AND INTEREST 

2 RATE SUBSIDIES. 

3 (a) DEFINITIONS.—For purposes of this section, the 

4 following definitions shall apply: 

5 (1) SECRETARY.—The term ‘‘Secretary’’ means 

6 the Secretary of the Treasury. 

7 (2) SUCCESSFUL SMALL BUSINESS.—The term 

8 ‘‘successful small business’’ means any United 

9 States company or enterprise which the Secretary 

10 determines— 

11 (A) maintains a long-term United States 

12 growth plan that meets the criteria established 

13 by the Secretary under this section; 

14 (B) as of the time of the determination, is 

15 experiencing financial performance and achiev16 ing a balance sheet would have qualified such 

17 company or enterprise for a certain level of loan 

18 from primary lending sources of such company 

19 or enterprise as of June 1, 2008, on the basis 

20 of credit and underwriting criteria in effect on 

21 such date, but cannot get access to loans from 

22 such lending sources as of the date of such de23 termination because of current tighter credit 

24 and underwriting criteria; and 


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1 (C) in the most recent calendar year had 

2 an average of not fewer than 5 employees and 

3 not more than 500 employees. 

4 (b) ESTABLISHMENT OF CRITERIA AND PROCE5 DURES; REGULATIONS.—The Secretary shall— 

6 (1) establish criteria for the establishment and 

7 maintenance of a long-term United States growth 

8 plan for any company or enterprise seeking incen9 tives under this Act, including any applicable compo10 nents of such plan, such as capital development, 

11 marketing and distribution within the United States, 

12 and expanded employment of United States workers; 

13 (2) establish criteria for United States expan14 sion plans of successful small businesses that would 

15 qualify such companies for any incentives under this 

16 Act; 

17 (3) establish procedures for carrying out the 

18 parameters and components of the loan guarantee 

19 and interest rate subsidy programs under this sec20 tion, a manner for allocating available amounts 

21 among qualified recipients, and the procedures for 

22 carrying out such programs; 

23 (4) establish procedures and forms for applying 

24 for loan guarantees and interest rate subsidies under 

25 this section; 


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1 (5) establish an information program to rapidly 

2 disseminate information about the programs and 

3 such procedures to all companies and enterprises 

4 who may qualify for any such program and to the 

5 general public; and 

6 (6) take such other action and prescribe such 

7 regulations as the Secretary determines are appro8 priate to carry out this section. 

9 (c) LOAN GUARANTEE PROGRAM.—The Secretary 

10 shall establish and maintain a program to provide loan 

11 guarantees, of not more than 80 percent of the amount 

12 of the principal of the loan to which the guarantee applies, 

13 to banks and other lenders that will allow such banks and 

14 lenders to provide loans at the lowest collateralized rate 

15 available to any successful small business for the purpose 

16 of facilitating the company’s United States expansion 

17 plans. 

18 (d) INTEREST RATE SUBSIDY PROGRAM.—The Sec19 retary shall establish an interest rate subsidy program 

20 under which the Secretary would pay 1 percentage point 

21 of interest on any loan made by any bank or other lender 

22 to any successful small business for the purpose of facili23 tating the company’s United States expansion plans to the 

24 extent the annual percentage rate on the loan does not 

25 exceed the lowest collateralized rate available from the 


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1 bank or lender to any successful small business, minus the 

2 rate paid by the Secretary. 

3 (e) COORDINATION.—The Secretary— 

4 (1) shall consult with the Administrator of the 

5 Small Business Administration in establishing the 

6 programs under subsections (c) and (d); and 

7 (2) may make such arrangements with such Ad8 ministrator as the Secretary determines to be appro9 priate to provide for the administration of such pro10 grams, or any aspect of such programs, by the Ad11 ministrator. 

12 (f) SUNSET.—No new loan guarantee or interest rate 

13 subsidy may be entered into under any program under this 

14 section after the end of the 5-year period beginning on 

15 the date of the enactment of this Act. 

Æ 


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