II 

111TH CONGRESS 

1ST SESSION S. 2918 

To make improvements to certain loan programs under the Small Business 

Act and the Small Business Investment Act of 1958, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

DECEMBER 21 (legislative day, DECEMBER 20), 2009 

Mr. SPECTER introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To make improvements to certain loan programs under the 

Small Business Act and the Small Business Investment 

Act of 1958, 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 ‘‘Helping Small Busi5 ness Succeed Act of 2009’’. 

6 SEC. 2. MAXIMUM LOAN AMOUNTS UNDER 7(a) PROGRAM. 

7 Section 7(a)(3)(A) of the Small Business Act (15 

8 U.S.C. 636(a)(3)(A)) is amended by striking ‘‘$1,500,000 

9 (or if the gross loan amount would exceed $2,000,000’’ 


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1 and inserting ‘‘$4,875,000 (or if the gross loan amount 

2 would exceed $5,000,000’’. 

3 SEC. 3. MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM. 

4 Section 502(2)(A) of the Small Business Investment 

5 Act of 1958 (15 U.S.C. 696(2)(A)) is amended— 

6 (1) in clause (i), by striking ‘‘$1,500,000’’ and 

7 inserting ‘‘$4,000,000’’; 

8 (2) in clause (ii), by striking ‘‘$2,000,000’’ and 

9 inserting ‘‘$5,000,000’’; 

10 (3) in clause (iii), by striking ‘‘$4,000,000’’ and 

11 inserting ‘‘$5,500,000’’; 

12 (4) in clause (iv), by striking ‘‘$4,000,000’’ and 

13 inserting ‘‘$5,500,000’’; and 

14 (5) in clause (v), by striking ‘‘$4,000,000’’ and 

15 inserting ‘‘$5,500,000’’. 

16 SEC. 4. MAXIMUM LOAN LIMITS UNDER MICROLOAN PRO17 GRAM. 

18 Section 7(m) of the Small Business Act (15 U.S.C. 

19 636(m)) is amended— 

20 (1) in paragraph (1)(B)(iii), by striking 

21 ‘‘$35,000’’ and inserting ‘‘$50,000’’; 

22 (2) in paragraph (3)(E), by striking ‘‘$35,000’’ 

23 each place that term appears and inserting 

24 ‘‘$50,000’’; and 


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1 (3) in paragraph (11)(B), by striking 

2 ‘‘$35,000’’ and inserting ‘‘$50,000’’. 

3 SEC. 5. MAXIMUM LOAN GUARANTEE UNDER 7(a) PRO4 GRAM. 

5 (a) IN GENERAL.— 

6 (1) AMENDMENT.—Section 7(a)(2)(A) of the 

7 Small Business Act (15 U.S.C. 636(a)(2)(A)) is 

8 amended by striking ‘‘equal to—’’ and all that fol9 lows and inserting ‘‘equal to 97.5 percent of the 

10 amount of the loan.’’. 

11 (2) PROSPECTIVE REPEAL.—Effective October 

12 3, 2011, section 7(a)(2)(A) of the Small Business 

13 Act (15 U.S.C. 636(a)(2)(A)) is amended by striking 

14 ‘‘equal to 97.5 percent of the amount of the loan.’’ 

15 and inserting ‘‘equal to— 

16 ‘‘(i) 75 percent of the balance of the 

17 financing outstanding at the time of dis18 bursement of the loan, if such balance ex19 ceeds $150,000; or 

20 ‘‘(ii) 85 percent of the balance of the 

21 financing outstanding at the time of dis22 bursement of the loan, if such balance is 

23 less than or equal to $150,000.’’. 

24 (b) CONFORMING AMENDMENT.—Section 502(a) of 

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1 vestment Act of 2009 (Public Law 111–5; 123 Stat. 152) 

2 is amended by striking ‘‘90 percent’’ and inserting ‘‘97.5 

3 percent’’. 

4 SEC. 6. EXTENSION OF FEE REDUCTIONS. 

5 (a) EXTENSION OF FEE REDUCTIONS.—Section 501 

6 of title V of division A of the American Recovery and Rein7 vestment Act of 2009 (Public Law 111–5; 123 Stat. 151) 

8 is amended by striking ‘‘September 30, 2010’’ each place 

9 that term appears and inserting ‘‘October 3, 2011’’. 

10 (b) AVAILABILITY OF FUNDS.—The matter under the 

11 heading ‘‘BUSINESS LOANS PROGRAM ACCOUNT’’ under 

12 the heading ‘‘SMALL BUSINESS ADMINISTRATION’’ 

13 in title V of division A of the American Recovery and Rein14 vestment Act of 2009 (Public Law 111–5; 123 Stat. 151) 

15 is amended— 

16 (1) by striking ‘‘to remain available until Sep17 tember 30, 2010’’ the second place it appears; 

18 (2) by inserting ‘‘and shall remain available 

19 until October 3, 2011’’ after ‘‘section 501 of this 

20 title’’; and 

21 (3) by inserting ‘‘and shall remain available 

22 until September 30, 2010’’ after ‘‘section 506 of this 

23 title’’. 


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1 SEC. 7. ECONOMIC DISASTER LOANS. 

2 (a) AUTHORITY TO MAKE LOANS.—The Adminis3 trator of the Small Business Administration may make a 

4 loan to a small business concern (as defined under section 

5 3 of the Small Business Act (15 U.S.C. 632)) that is lo6 cated in an economic disaster area under the same terms 

7 and conditions and for the same purposes as a loan under 

8 section 7(b)(2) of the Small Business Act (15 U.S.C. 

9 636(b)(2)). 

10 (b) ECONOMIC DISASTER AREA.—For purposes of 

11 this section, the term ‘‘economic disaster area’’ means a 

12 geographic area that the Administrator of the Small Busi13 ness Administration determines has— 

14 (1) a per capital income of not more than 80 

15 percent of the average per capita income in the 

16 United States, based on the most recent available 

17 data from the Bureau of Labor Statistics of the De18 partment of Labor; 

19 (2) an average unemployment rate that is not 

20 less than 1 percentage point greater than the aver21 age unemployment rate in the United States, during 

22 the most recent 24-month period for which data 

23 from the Bureau of Labor Statistics of the Depart24 ment of Labor are available; and 

25 (3) a special need. 


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1 (c) SUNSET.—The authority of the Administrator of 

2 the Small Business Administration to make a loan under 

3 subsection (a) shall terminate on October 3, 2011. 

4 SEC. 8. FUNDING. 

5 (a) REVENUE FROM SALE OF TROUBLED ASSETS

6 AND WARRANTS.—Section 106(d) of the Emergency Eco7 nomic Stabilization Act of 2008 (12 U.S.C. 5216(d)) is 

8 amended— 

9 (1) by striking ‘‘Revenues of’’ and inserting the 

10 following: 

11 ‘‘(1) IN GENERAL.—Except as provided in para12 graph (2), revenues of’’; and 

13 (2) by adding at the end the following: 

14 ‘‘(2) TRANSFER TO SMALL BUSINESS ADMINIS15 TRATION.—From amounts received under paragraph 

16 (1), the Secretary shall transfer to the Adminis17 trator of the Small Business Administration such 

18 amounts as are necessary to carry out the Helping 

19 Small Business Succeed Act of 2009 and the amend20 ments made by that Act.’’. 

21 (b) AUTHORIZATION OF APPROPRIATIONS.—In addi22 tion to any amounts transferred to the Administrator of 

23 the Small Business Administration under section 106(d) 

24 of the Emergency Economic Stabilization Act of 2008 (12 

25 U.S.C. 5216(d)), as amended by this Act, there are auVerDate Nov 24 2008 03:42 Dec 22, 2009 Jkt 089200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\S2918.IS S2918

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1 thorized to be appropriated such sums as may be nec2 essary to carry out this Act and the amendments made 

3 by this Act. 

Æ 


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