H.R.4295 - Small Business Emergency Capital Assistance Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Courtney, Joe [D-CT-2] (Introduced 12/11/2009)|
|Committees:||House - Small Business|
|Latest Action:||12/11/2009 Referred to the Subcommittee on Finance and Tax. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4295 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (12/11/2009)
Small Business Emergency Capital Assistance Act of 2009 - Directs the Administrator of the Small Business Administration (SBA) to carry out a program under which the Administrator may make loans directly to small businesses determined to: (1) be economically healthy; (2) have good credit; and (3) be unable to obtain a loan on reasonable terms from a non-federal source. Limits loan amounts to $1.5 million, with a maximum repayment term of 25 years.
Requires: (1) the Administrator to report annually to the congressional small business committees concerning loans made under the program; and (2) the Comptroller General to evaluate the program's effectiveness and report evaluation results to such committees.