Expanding Opportunities to Underserved Businesses Act

Bill: 113-hr-3191
Sponsor: full_name: Rep. Cohen, Steve [D-TN-9]
Introduced: 2013-09-26
Policy area: Commerce
Subjects: Government lending and loan guarantees

Small business
Latest action: action_date: 2013-09-26
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2013-09-26
action_desc: Introduced in House
text: <p>Expanding Opportunities to Underserved Businesses Act - Amends the Small Business Act to increase from $50,000 to $75,000 the maximum loan amount under the Small Business Administration (SBA) microloan program (loans to start-up, newly established, or growing small businesses).</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3191 IN THE HOUSE OF REPRESENTATIVES September 26, 2013 Mr. Cohen (for himself and Ms. Norton ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to increase the maximum loan amount for loans under the microloan program.

1. Short title This Act may be cited as the Expanding Opportunities to Underserved Businesses Act . 2. Microloan amount maximum Section 7(m) of the Small Business Act ( 15 U.S.C. 636(m) ) is amended— (1) in paragraph (1)(B)(iii), by striking $50,000 and inserting $75,000 ; (2) in paragraph (3)(E), by striking $50,000 each place it appears and inserting $75,000 ; and (3) in paragraph (11)(B), by striking $50,000 and inserting $75,000 .