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‘‘SEC. 512. ASSISTANCE FOR SMALL MANUFACTURERS. 
‘‘(a) IN GENERAL.—The Administrator shall ensure 
that each district office of the Administration partners 
with not less than 1 resource partner to provide training 
to small business concerns assigned a North American In-
dustry Classification System code for manufacturing on 
obtaining assistance under the program carried out under 
this title, including with respect to the application process 
under that program and partnering with development 
companies under this title. 
‘‘(b) RESOURCE PARTNER DEFINED.—In this sec-
tion, the term ‘resource partner’ means— 
‘‘(1) a small business development center (as 
defined in section 3 of the Small Business Act); 
‘‘(2) a women’s business center (described 
under section 29 of such Act); 
‘‘(3) a chapter of the Service Corps of Retired 
Executives (established under section 8(b)(1)(B) of 
such Act); and 
‘‘(4) a Veteran Business Outreach Center (de-
scribed under section 32 of such Act).’’. 
SEC. 7. LEASING RULES FOR NEW FACILITIES AND EXIST-
ING BUILDINGS. 
(a) IN GENERAL.—Section 502(a) of the Small Busi-
ness Investment Act of 1958, as designated by section 3, 
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is amended by striking paragraphs (4) and (5) and insert-
ing the following new paragraphs: 
‘‘(4) NEW FACILITIES.— 
‘‘(A) IN
GENERAL.—With respect to a 
project to construct a new facility, an assisted 
small business concern may permanently lease 
not more than 20 percent of the project if such 
concern— 
‘‘(i) permanently occupies and uses 
not less than 60 percent of the project; 
‘‘(ii) plans to occupy and use an addi-
tional portion of the project that is not 
permanently leased not later than 3 years 
after receipt of assistance under this sec-
tion; and 
‘‘(iii) plans to permanently occupy and 
use 80 percent of the project not later than 
10 years after receipt of such assistance. 
‘‘(B) SMALL MANUFACTURERS.—With re-
spect to an assisted small business concern that 
is a small manufacturer (as defined in section 
501(e)(6)), subparagraph (A)(i) shall apply 
with ‘50 percent’ substituted for ‘60 percent’. 
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‘‘(5) EXISTING BUILDINGS.—With respect to a 
project to acquire, renovate, or reconstruct an exist-
ing building, the following shall apply: 
‘‘(A) OCCUPANCY
REQUIREMENTS.—The 
assisted small business concern may perma-
nently lease not more than 50 percent of the 
project if the concern permanently occupies and 
uses not less than 50 percent of the project. 
‘‘(B) EXCEPTION.—The assisted small 
business concern may permanently lease more 
than 50 percent of the project if— 
‘‘(i) such concern— 
‘‘(I) has occupied and used the 
existing building for a consecutive 12- 
month period before submitting an 
application for assistance under this 
section; 
‘‘(II) agrees to permanently use 
less than 50 percent of the existing 
building and permanently lease more 
than 50 percent for a consecutive 12- 
month period after receiving such as-
sistance; and 
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‘‘(III) affirms that the existing 
building is appropriate for current 
and reasonably anticipated needs; and 
‘‘(ii) the development company assist-
ing such project— 
‘‘(I) provides written notice to 
the Administrator on the date on 
which the development company closes 
the loan for such project; and 
‘‘(II) once each year during the 
first 5 years of the loan, and once 
every 2 years for the remainder of the 
loan— 
‘‘(aa) conducts an examina-
tion of the assisted small busi-
ness concern to ensure the con-
cern is not a real estate develop-
ment business; and 
‘‘(bb) files with the Adminis-
trator an anti-investor certifi-
cation signed by the development 
company and the assisted small 
business concern. 
‘‘(C) LEASE TERM.—Any residential lease 
made under this paragraph shall be for a term 
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of not more than 1 year, and any commercial 
lease made under this paragraph shall be for a 
term of not more than 5 years.’’. 
(b) REPORT.—Not later than 5 years after the date 
of the enactment of this Act, the Administrator of the 
Small Business Administration shall submit to Congress 
a report analyzing the impact of the amendments made 
by this section on access to capital for small business con-
cerns (as defined under section 3 of the Small Business 
Act (15 U.S.C. 632)), and recommending whether similar 
notice, examination, and certifications requirements 
should be made to the program established under section 
7(a) of the Small Business Act (15 U.S.C. 636(a)). 
SEC. 8. LOW-INTEREST REFINANCING UNDER THE LOCAL 
DEVELOPMENT BUSINESS LOAN PROGRAM. 
(a) EXPANSIONS.—Section 502(a)(7)(B) of the Small 
Business Investment Act of 1958, as designated by section 
3 and amended by section 5(d), is further amended— 
(1) in the matter preceding clause (i), by strik-
ing ‘‘50 percent’’ and inserting ‘‘100 percent’’; and 
(2) in clause (v), by adding ‘‘and’’ at the end; 
(3) by striking clause (vi); and 
(4) by redesignating clause (vii) as clause (vi). 
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(b) REPEAL.—Section 521(a) of division E of the 
Consolidated Appropriations Act, 2016 (Public Law 114– 
113; 129 Stat. 2463; 15 U.S.C. 696 note) is repealed. 
(c) REFINANCING.—Section 502(a)(7) of the Small 
Business Investment Act of 1958, as designated by section 
3, is amended by adding at the end the following new sub-
paragraph: 
‘‘(C) REFINANCING
NOT
INVOLVING
EX-
PANSIONS.— 
‘‘(i) DEFINITIONS.—In this subpara-
graph— 
‘‘(I) the term ‘borrower’ means a 
small business concern that submits 
an application to a development com-
pany for financing under this sub-
paragraph; 
‘‘(II) the term ‘eligible fixed 
asset’ means tangible property relat-
ing to which the Administrator may 
provide financing under this section; 
and 
‘‘(III) the term ‘qualified debt’ 
means indebtedness that— 
‘‘(aa) was incurred not less 
than 6 months before the date of 
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the application for assistance 
under this subparagraph; 
‘‘(bb) is a commercial loan; 
‘‘(cc) the proceeds of which 
were used to acquire an eligible 
fixed asset; 
‘‘(dd) was incurred for the 
benefit of the small business con-
cern; and 
‘‘(ee) is collateralized by eli-
gible fixed assets; and 
‘‘(ii) AUTHORITY.—A project that 
does not involve the expansion of a small 
business concern may include the refi-
nancing of qualified debt if— 
‘‘(I) the amount of the financing 
is not more than 90 percent of the 
value of the collateral for the financ-
ing, except that, if the appraised value 
of the eligible fixed assets serving as 
collateral for the financing is less than 
the amount equal to 125 percent of 
the amount of the financing, the bor-
rower may provide additional cash or 
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other collateral to eliminate any defi-
ciency; 
‘‘(II) the borrower has been in 
operation for all of the 2-year period 
ending on the date the loan applica-
tion is submitted; and 
‘‘(III) for a financing for which 
the Administrator determines there 
will be an additional cost attributable 
to the refinancing of the qualified 
debt, the borrower agrees to pay a fee 
in an amount equal to the anticipated 
additional cost. 
‘‘(iii) FINANCING FOR BUSINESS EX-
PENSES.— 
‘‘(I) FINANCING
FOR
BUSINESS 
EXPENSES.—The Administrator may 
provide financing to a borrower that 
receives financing that includes a refi-
nancing of qualified debt under clause 
(ii), in addition to the refinancing 
under clause (ii), to be used solely for 
the payment of business expenses. 
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‘‘(II) APPLICATION FOR FINANC-
ING.— An application for financing 
under subclause (I) shall include— 
‘‘(aa) a specific description 
of the expenses for which the ad-
ditional financing is requested; 
and 
‘‘(bb) an itemization of the 
amount of each expense. 
‘‘(III) 
CONDITION
ON
ADDI-
TIONAL FINANCING.—A borrower may 
not use any part of the financing 
under this clause for non-business 
purposes. 
‘‘(iv) LOANS BASED ON JOBS.— 
‘‘(I) JOB CREATION AND RETEN-
TION GOALS.— 
‘‘(aa) IN
GENERAL.—The 
Administrator may provide fi-
nancing under this subparagraph 
for a borrower that meets the job 
creation goals under subsection 
(d) or (e) of section 501. 
‘‘(bb) ALTERNATE JOB RE-
TENTION
GOAL.—The Adminis-
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trator may provide financing 
under this subparagraph to a 
borrower that does not meet the 
goals described in item (aa) in an 
amount that is not more than the 
product obtained by multiplying 
the number of employees of the 
borrower by $75,000. 
‘‘(II) NUMBER OF EMPLOYEES.— 
For purposes of subclause (I), the 
number of employees of a borrower is 
equal to the sum of— 
‘‘(aa) the number of full- 
time employees of the borrower 
on the date on which the bor-
rower applies for a loan under 
this subparagraph; and 
‘‘(bb) the product obtained 
by multiplying— 
‘‘(AA) the number of 
part-time employees of the 
borrower on the date on 
which the borrower applies 
for a loan under this sub-
paragraph; by 
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‘‘(BB) the quotient ob-
tained by dividing the aver-
age number of hours each 
part time employee of the 
borrower works each week 
by 40. 
‘‘(v) 
NONDELEGATION.—Notwith-
standing section 508(e), the Administrator 
may not permit a premier certified lender 
to approve or disapprove an application for 
assistance under this subparagraph. 
‘‘(vi) TOTAL
AMOUNT
OF
LOANS.— 
The Administrator may provide not more 
than a total of $7,500,000,000 of financ-
ing under this subparagraph for each fiscal 
year.’’. 
Passed the House of Representatives December 3, 
2020. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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