HR 1332 PCS
rural areas (as ‘rural’ is defined in section 501(f) of 
the Small Business Investment Act of 1958) or, in 
the case of a small business concern located in a 
rural area that does not have a lender located within 
30 miles of the principal place of business, through 
any lender that is enrolled in, and administers, the 
7(a) loan program that the small business concern 
chooses. For a loan made through the program, the 
following shall apply: 
‘‘(A) The Administrator shall approve or 
disapprove the loan within 36 hours. 
‘‘(B) The program shall use abbreviated 
application and documentation requirements. 
‘‘(C) Minimum credit standards, as the 
Administrator considers necessary to limit the 
rate of default on loans made under the pro-
gram, shall apply.’’. 
SEC. 103. COMMUNITY EXPRESS PROGRAM MADE PERMA-
NENT. 
(a) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended by adding at the 
end the following: 
‘‘(34) COMMUNITY
EXPRESS
PROGRAM.—The 
Administrator shall carry out a Community Express 
Program for loans of $250,000 or less. For a loan 
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HR 1332 PCS
made under this paragraph, the following shall 
apply: 
‘‘(A) The loan shall be made to a business 
concern— 
‘‘(i) the majority ownership interest of 
which is directly held by individuals who 
are women, members of qualified Indian 
tribes, socially or economically disadvan-
taged individuals (as defined by the Ad-
ministrator), or veterans of the Armed 
Forces or members of the reserve compo-
nents of the Armed Forces; or 
‘‘(ii) that is located in a low- or mod-
erate-income area, as defined by the Ad-
ministrator. 
‘‘(B) The loan shall comply with the collat-
eral policy of the Administration, except that, if 
the amount of the loan is less than or equal to 
$25,000, the Administration shall not require 
the lender to take collateral. 
‘‘(C) The loan shall include terms requir-
ing the lender to ensure that technical assist-
ance is provided to the borrower, through the 
lender or a third-party provider. 
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‘‘(D) The Administration shall approve or 
disapprove the loan within 36 hours.’’. 
(b) NOTICE AND COMMENT.—The program required 
by section 7(a)(34) of the Small Business Act, as added 
by subsection (a), shall be established after the oppor-
tunity for notice and comment and not later than 180 days 
after the date of the enactment of this Act. 
SEC. 
104. 
MEDICAL 
PROFESSIONALS 
IN 
DESIGNATED 
SHORTAGE AREAS PROGRAM. 
(a) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended by adding at the 
end the following: 
‘‘(35) 
MEDICAL
PROFESSIONALS
IN
DES-
IGNATED SHORTAGE AREAS PROGRAM.—The Admin-
istrator shall carry out a Medical Professionals in 
Designated Shortage Areas Program. For a loan 
made under this paragraph, the following shall 
apply: 
‘‘(A) The loan shall be made to a business 
concern that provides properly licensed medical, 
dental, or psychiatric services to the public. 
‘‘(B) The loan shall be for the purpose of 
opening a business concern in a health profes-
sional shortage area (as defined in section 332 
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of the Public Health Service Act (42 U.S.C. 
254e)). 
‘‘(C) The loan shall include the participa-
tion by the Administration equal to 90 percent 
of the balance of the financing outstanding at 
the time of disbursement. 
‘‘(D) The fees on the loan under para-
graphs (18) and (23) shall be reduced by half.’’. 
(b) NOTICE AND COMMENT.—The program required 
by section 7(a)(35) of the Small Business Act, as added 
by subsection (a), shall be established after the oppor-
tunity for notice and comment and not later than 180 days 
after the date of the enactment of this Act. 
SEC. 105. INCREASED VETERAN PARTICIPATION PROGRAM. 
(a) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended by adding at the 
end the following: 
‘‘(36) INCREASED
VETERAN
PARTICIPATION 
PROGRAM.—The Administrator shall carry out an 
Increased Veteran Participation Program. For a 
loan made under this paragraph, the following shall 
apply: 
‘‘(A) The loan shall be made to a business 
concern the majority ownership interest of 
which is directly held by individuals who are 
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