H.Amdt.695 to H.R.5297111th Congress (2009-2010)
Description: H.Amdt. 695 — 111th Congress (2009-2010)All Information (Except Text)
Amendment adds four stipulations to the Small Business Lending Fund to safeguard small businesses in the bill: 1) provides a definition of what constitutes a small business in order to ensure that funds are properly lent; 2) links lending incentives to volume in order to open up the credit markets to every qualified small business; 3) sets a hardened baseline when measuring a bank's lending record; and 4) includes small business lending companies with less than $10 billion in assets as qualified financial institutions alongside community banks and small credit unions.
An amendment numbered 3 printed in part C of House Report 111-506 to add four stipulations to the Small Business Lending Fund to safeguard small businesses in the bill: 1) base SBLF incentives on number of loans an institution makes, not just the total dollars of loans; 2) include Small Business Lending Centers with less than $10 billion in assets as qualified financial institutions to participate in the SBLF; 3) add the SBA definition to define what a small business is; and 4) change the base lending amount from a comparison of the fourth quarter of 2009, to a full year of data.
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