I 
114TH CONGRESS 
1ST SESSION H. R. 3191 
To amend the Consolidated and Further Continuing Appropriations Act, 
2015 with respect to funding available for fiscal year 2015 for certain 
general business loans authorized under the Small Business Act, to 
amend the Small Business Act to modify loan limitations, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 23, 2015 
Mr. CHABOT introduced the following bill; which was referred to the 
Committee on Small Business 
A BILL 
To amend the Consolidated and Further Continuing Appro-
priations Act, 2015 with respect to funding available 
for fiscal year 2015 for certain general business loans 
authorized under the Small Business Act, to amend the 
Small Business Act to modify loan limitations, 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. AMENDMENTS TO FUNDING AVAILABLE TO THE 
SMALL BUSINESS ADMINISTRATION TO MAKE 
SECTION 7(a) LOANS. 
(a) SECTION 7(a) LOAN FUNDING LEVELS.—The 
third proviso under the heading ‘‘Small Business Adminis-
tration—Business Loans Program Account’’ in title V of 
division E of the Consolidated and Further Continuing 
Appropriations Act, 2015 (Public Law 113–235; 128 Stat. 
2371) is amended by striking ‘‘$18,750,000,000’’ and in-
serting ‘‘$23,500,000,000’’. 
(b) LOAN LIMITATIONS.—Section 7(a)(1) of the 
Small Business Act (15 U.S.C. 636(a)(1)) is amended— 
(1) in subparagraph (A)— 
(A) by striking ‘‘No financial assistance’’ 
and inserting the following: 
‘‘(i) IN GENERAL.—No financial as-
sistance’’; and 
(B) by adding at the end the following: 
‘‘(ii) LIQUIDITY.—On and after Octo-
ber 1, 2015, the Administrator may not 
guarantee a loan under this subsection if 
the lender determines that the borrower is 
unable to obtain credit elsewhere solely be-
cause the liquidity of the lender depends 
upon the guaranteed portion of the loan 
being sold on the secondary market.’’; and 
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(2) by adding at the end the following: 
‘‘(C) LENDING LIMITS OF LENDERS.—On 
and after October 1, 2015, the Administrator 
may not guarantee a loan under this subsection 
if the sole purpose for requesting the guarantee 
is to allow the lender to exceed the legal lending 
limit of the lender.’’. 
(c) REPORTING.— 
(1) DEFINITIONS.—In this subsection— 
(A) the term ‘‘Administrator’’ means the 
Administrator of the Small Business Adminis-
tration; 
(B) the term ‘‘business loan’’ means a loan 
made or guaranteed under section 7(a) of the 
Small Business Act (15 U.S.C. 636(a)); 
(C) the term ‘‘cancellation’’ means that the 
Administrator approves a proposed business 
loan, but the prospective borrower determines 
not to take the business loan; and 
(D) the term ‘‘net dollar amount of busi-
ness loans’’ means the difference between the 
total dollar amount of business loans and the 
total dollar amount of cancellations. 
(2) REQUIREMENT.—During the 3-year period 
beginning on the date of enactment of this Act, the 
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Administrator shall submit to Committee on Small 
Business and Entrepreneurship and the Committee 
on Appropriations of the Senate and the Committee 
on Small Business and the Committee on Appropria-
tions of the House of Representatives a quarterly re-
port regarding the loan programs carried out under 
section 7(a) of the Small Business Act (15 U.S.C. 
636(a)), which shall include— 
(A) for the fiscal year during which the re-
port is submitted and the 3 fiscal years before 
such fiscal year— 
(i) the weekly total dollar amount of 
business loans; 
(ii) the weekly total dollar amount of 
cancellations; and 
(iii) the weekly net dollar amount of 
business loans— 
(I) for all business loans; and 
(II) for each category of loan 
amount described in clause (i), (ii), or 
(iii) of section 7(a)(18) of the Small 
Business Act (15 U.S.C. 636(a)(18)); 
(B) for the fiscal year during which the re-
port is submitted— 
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(i) the amount of remaining authority 
for business loans, in dollar amount and as 
a percentage; and 
(ii) estimates of the date on which the 
net dollar amount of business loans will 
reach the maximum for such business 
loans based on daily net lending volume 
and extrapolations based on year-to-date 
net lending volume, quarterly net lending 
volume, and quarterly growth trends; 
(C) the number of early defaults (as deter-
mined by the Administrator) during the quarter 
covered by the report; 
(D) the total amount paid by borrowers in 
early default during the quarter covered by the 
report, as of the time of purchase of the guar-
antee; 
(E) the number of borrowers in early de-
fault that are franchisees; 
(F) the total amount of guarantees pur-
chased by the Administrator during the quarter 
covered by the report; and 
(G) a description of the actions the Admin-
istrator is taking to combat early defaults ad-
ministratively and any legislative action the Ad-
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ministrator recommends to address early de-
faults. 
Æ 
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