I 

113TH CONGRESS 

2D SESSION H. R. 5599 

To clarify that the use of electronic signatures and records in SBA loan 

and related financing programs is permitted. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 18, 2014 

Mr. GRAVES of Missouri (for himself, Mr. CHABOT, Mr. SCHWEIKERT, Mr. 

HANNA, Mr. HUELSKAMP, Mr. COLLINS of New York, Mr. LUETKEMEYER, Mr. TIPTON, Mr. KING of Iowa, and Mr. RICE of South Carolina) 

introduced the following bill; which was referred to the Committee on 

Small Business 

A BILL 

To clarify that the use of electronic signatures and records 

in SBA loan and related financing programs is permitted. 

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 Loan 

5 Simplification Act of 2014’’. 

6 SEC. 2. ELECTRONIC SIGNATURES AND RECORDS. 

7 (a) IN GENERAL.—Section 4 of the Small Business 

8 Act (15 U.S.C. 633) is amended by the adding the fol9 lowing new subsection: 


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1 ‘‘(g) ELECTRONIC SIGNATURES AND RECORDS.—In 

2 accordance with the Electronic Signatures in Global and 

3 National Commerce Act (15 U.S.C. 7001 et seq.), the Ad4 ministrator shall— 

5 ‘‘(1) amend regulations and Standard Oper6 ating Procedures to authorize the Administration 

7 and participants in lending programs under sub8 sections (a), (j), (l), and (m) of section 7 of the 

9 Small Business Act, and under title III, title IV, and 

10 title V of the Small Business Investment Act of 

11 1958, to use electronic signatures and records, as 

12 defined by section 106 of the Electronic Signatures 

13 in Global and National Commerce Act, for such pro14 grams; and 

15 ‘‘(2) accept electronic signatures and records, 

16 as defined by section 106 of the Electronic Signa17 tures in Global and National Commerce Act, associ18 ated with the management and closing processes 

19 under section 7 of the Small Business Act and Small 

20 Business Administration Standard Operating Proce21 dure 50 10, Standard Operating Procedure 50 57, 

22 Standard Operating Procedure 50 50, and in Stand23 ard Operating Procedure 10 06 (as in effect on the 

24 date of enactment of this paragraph and any sucVerDate Sep 11 2014 23:32 Sep 29, 2014 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H5599.IH H5599

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1 cessor rule or successor Standard Operating Proce2 dure).’’. 

3 (b) PRESERVATION OF STATE LAW.—Nothing in this 

4 Act may be construed to preempt applicable State law ex5 cept as provided in the Electronic Signatures in Global 

6 and National Commerce Act (15 U.S.C. 7001 et seq.) with 

7 respect to such State law. 

8 (c) EFFECTIVE DATE.—The amendments made in 

9 subsection (a) of this section shall take effect on the date 

10 that is 60 days after the date of enactment of this Act. 

11 To ensure timely implementation of the requirements of 

12 this section, any rules made during the 60-day period to 

13 carry out this section are not subject to the requirements 

14 under subsection (b) or (c) of section 553 of title 5, United 

15 States Code. 

Æ 


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