IIB 
118TH CONGRESS 
1ST SESSION 
H. R. 449 
IN THE SENATE OF THE UNITED STATES 
JANUARY 26, 2023 
Received; read twice and referred to the Committee on Small Business and 
Entrepreneurship 
AN ACT 
To amend the Small Business Act to increase transparency, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Microloan Trans-
parency and Accountability Act of 2023’’. 
SEC. 2. PORTFOLIO RISK ANALYSIS OF MICROLOANS. 
Section 7(m)(10) of the Small Business Act (15 
U.S.C. 636(m)(10)) is amended— 
(1) by redesignating subparagraphs (A) through 
(F) as clauses (i) through (vi), respectively, and ad-
justing the margins accordingly; 
(2) by amending clause (iv), as so redesignated, 
to read as follows: 
‘‘(vi) the number, amount, and per-
centage of microloans made by inter-
mediaries to small business concerns— 
‘‘(I) that went into default in the 
previous year; and 
‘‘(II) that were charged off in the 
previous 
year 
by 
such 
inter-
mediaries;’’; 
(3) in clause (vi), as so redesignated, by strik-
ing ‘‘and’’ at the end; 
(4) by redesignating subparagraph (G) as 
clause (xviii), and adjusting the margin accordingly; 
(5) by striking ‘‘On November 1, 1995,’’ and all 
that follows through ‘‘the following:’’ and inserting 
the following: 
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‘‘(A) IN
GENERAL.—Beginning on Feb-
ruary 1, 2023, and annually thereafter, the Ad-
ministrator shall submit to the Committee on 
Small Business and Entrepreneurship of the 
Senate and the Committee on Small Business 
of the House of Representatives, and make 
available to the public on the website of the Ad-
ministration, a report on the effectiveness of 
the microloan program during the fiscal year 
preceding the date of the report. Such report 
shall include—’’; 
(6) in subparagraph (A), as so designated, by 
inserting after clause (vi) the following new clauses: 
‘‘(vii) the number and type of enforce-
ment actions taken by the Administrator 
against noncompliant intermediaries; 
‘‘(viii) an analysis of compliance by 
intermediaries with the credit availability 
requirements of paragraph (3)(E) for loans 
in an amount greater than $20,000; 
‘‘(ix) the extent to which microloans 
are provided to small business concerns in 
rural areas; 
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‘‘(x) the number of underserved bor-
rowers, as defined by the Administration, 
participating in the microloan program; 
‘‘(xi) the average rate of interest for 
each microloan; 
‘‘(xii) the average amount of fees 
charged for each microloan; 
‘‘(xiii) the average size of each 
microloan, including— 
‘‘(I) the number of loans made in 
an amount greater than $20,000; and 
‘‘(II) 
the 
average 
size 
and 
charge-off rate of such loans; 
‘‘(xiv) the subsidy cost to the Admin-
istration; 
‘‘(xv) the number and percentage of 
microloans that were made to refinance 
other loans; 
‘‘(xvi) the number and percentage of 
microloans made to new program partici-
pants and the number and percentage of 
microloans made to previous program par-
ticipants; 
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‘‘(xvii) the average amount of tech-
nical assistance grant monies spent on 
each loan; and’’; and 
(7) by adding at the end the following: 
‘‘(B) PRIVACY.—Each report submitted 
under subparagraph (A) shall not contain any 
personally identifiable information of any bor-
rower.’’. 
Passed the House of Representatives January 25, 
2023. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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