Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. ACCREDITED LENDERS PROGRAM.

Title V of the Small Business Investment Act of 1958 (15 U.S.C. 695
et seq.) is amended by inserting after section 504 the following new
section:

''SEC. 504A. ACCREDITED LENDERS PROGRAM.

''(a) In General.--The Administration shall establish an Accredited
Lenders Program for qualified State or local development companies that
meet the requirements of subsection (b).
''(b) Designation of Accredited Lenders.--The Administration shall
designate a qualified State or local development company as an
accredited lender if such company--
''(1) demonstrates adequate knowledge of applicable laws
and regulations concerning the guaranteed loan program under
section 504;
''(2) demonstrates proficiency in meeting the requirements
of such guaranteed loan program; and
''(3) meets such other requirements as the Administration
may prescribe by regulation.
''(c) Expedited Processing.--The Administration may expedite the
processing of any loan application or servicing action submitted by a
qualified State or local development company that has been designated
as an accredited lender in accordance with subsection (b).
''(d) Suspension or Revocation of Designation.--The designation of
a qualified State or local development company as an accredited lender
shall be suspended or revoked if the Administration determines that--
''(1) the development company is not adhering to the
Administration's rules and regulations or is violating any
other applicable provision of law; or
''(2) the loss experience of the development company is
excessive as compared to other lenders;
but such suspension or revocation shall not affect any outstanding loan
guarantee.
''(e) Definition.--For purposes of this section, the term
'qualified State or local development company' has the same meaning as
in section 503(e).
''(f) Regulations.--The Administration shall promulgate such
regulations as may be necessary to carry out this section.''.

SEC. 2. ACCREDITED LOAN PACKAGERS PILOT PROGRAM.

Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is
amended by adding at the end the following new paragraph:
''(22) Accredited loan packagers pilot program.--
''(A) In general.--The Administration shall
establish an Accredited Loan Packagers Pilot Program
(hereafter in this paragraph referred to as the
'Program') for loan packagers, which shall be
administered in accordance with subparagraphs (B)
through (G).
''(B) Designation of accredited loan packagers.--
''(i) Qualifications.--Subject to the
limitation contained in clause (ii), the
Administration may designate a loan packager as
an accredited loan packager if such loan
packager--
''(I) is located in a rural area in
which, in the determination of the
Administration, there is a severe
shortage or an absence of lenders that
have been designated as--
''(aa) certified lenders
under the Certified Lenders
Program authorized by paragraph
(19); or
''(bb) preferred lenders
under the Preferred Lenders
Program authorized by section
5(b)(7);
''(II) demonstrates adequate
knowledge of applicable laws and
regulations concerning guaranteed loan
programs under this subsection;
''(III) demonstrates proficiency in
meeting the requirements of such
guaranteed loan programs; and
''(IV) meets such other
requirements as the Administration may
prescribe by regulation.
''(ii) Total number.--In carrying out the
Program, the Administration shall designate not
less than 10 and not more than 15 loan
packagers as accredited loan packagers.
''(C) Expedited processing.--During the 3-year
period described in subparagraph (G), the
Administration may expedite the processing of any loan
application or servicing action prepared by a loan
packager that has been designated as an accredited loan
packager in accordance with subparagraph (B).
''(D) Suspension or revocation of designation.--The
designation of a loan packager as an accredited loan
packager shall be suspended or revoked if the
Administration determines that--
''(i) the loan packager is not adhering to
the Administration's rules and regulations or
is violating any other applicable provision of
law; or
''(ii) the loss experience of the loan
packager is excessive as compared to other loan
packagers;
but such suspension or revocation shall not affect any
outstanding loan guarantee.
''(E) Definition.--For purposes of this paragraph,
the term 'loan packager' means any--
''(i) qualified State or local development
company, as such term is defined in section
503(e) of the Small Business Investment Act of
1958; or
''(ii) other regional or local development
organization selected by the Administration.
''(F) Regulations.--The Administration shall
promulgate such regulations as may be necessary to
carry out this paragraph.
''(G) Sunset.--The Program shall terminate 3 years
after the date of enactment of this paragraph.''.
Output:
Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish an Accredited Lenders Program which designates a State or local development company as an accredited lender if it demonstrates: (1) adequate knowledge of the SBA guaranteed loan program; and (2) proficiency in meeting the requirements of such program and any other applicable requirements. Authorizes the Administrator to expedite the processing of any loan application or servicing action submitted by a development company so designated. Suspends or revokes such designation upon certain determinations by the Administrator.
Amends the Small Business Act to direct the Administrator to establish an Accredited Loan Packagers Pilot Program under which loan packagers shall be designated as accredited loan packagers upon meeting certain requirements with respect to loan packaging under the SBA guaranteed loan program. Requires at least ten but no more than 15 loan packagers to be so designated. Authorizes the Administrator, during a three-year period, to expedite the processing of any loan application or servicing action prepared by a loan packager so designated. Suspends or revokes such designation upon certain determinations by the Administrator.