SBA Loan Paperwork Reduction Act of 2013

Bill: 113-hr-2461
Sponsor: full_name: Rep. Hahn, Janice [D-CA-44]
Introduced: 2013-06-20
Policy area: Commerce
Subjects: Government lending and loan guarantees

Small business

User charges and fees
Latest action: action_date: 2013-06-20
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2013-06-20
action_desc: Introduced in House
text: <p>SBA Loan Paperwork Reduction Act of 2013 - Directs the Administrator of the Small Business Administration (SBA) to carry out a Small Loan Advantage Program in the same manner as, and as a replacement for, the SBA Small Loan Advantage loan initiative. (Under the loan initiative, SBA lenders make partially guaranteed, lower-dollar small business loans which often benefit businesses in underserved areas or markets.)</p> <p>Makes pilot program loan guarantee percentage limits inapplicable to such Program.</p> <p>Authorizes the Administrator to increase the Program's maximum loan amount, reduce the Program's fees, and further streamline the Program's loan approval process. </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2461 IN THE HOUSE OF REPRESENTATIVES June 20, 2013 Ms. Hahn introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to make permanent the Small Loan Advantage program, and for other purposes.

1. Short title This Act may be cited as the SBA Loan Paperwork Reduction Act of 2013 . 2. Small Loan Advantage program Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) is amended by adding at the end the following: (36) Small loan advantage (A) Permanent establishment The Administrator shall carry out a Small Loan Advantage program in accordance with this paragraph. (B) Administration of program Except as otherwise provided under this paragraph, the Administrator shall carry out the Small Loan Advantage program in the same manner as the Small Loan Advantage loan initiative of the Administration— (i) under which lenders were eligible to begin submitting loans on February 15, 2011; and (ii) as in effect on June 1, 2013. (C) Nonapplicability of pilot program limitations No limitation under paragraph (25)(A) applies to the Small Loan Advantage program under this paragraph. (D) Increased flexibility The Administrator is authorized to increase the program’s maximum loan amount, to reduce the program’s fees, and to further streamline the program’s loan approval process if the Administrator determines that such adjustments would be fair and appropriate. .