S.2918 - Helping Small Business Succeed Act of 2009111th Congress (2009-2010)
|Sponsor:||Sen. Specter, Arlen [D-PA] (Introduced 12/21/2009)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 12/21/2009 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.2918 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in Senate (12/21/2009)
Helping Small Business Succeed Act of 2009 - Amends the Small Business Act to increase maximum amounts of loans under the section 7(a) guaranteed loan program and the Microloan Program. Amends the Small Business Investment Act of 1958 to increase maximum amounts of loans to state and local development companies for plant acquisition, construction, conversion, and expansion.
Increases the maximum loan guarantee percentage under the 7(a) program, effective until October 3, 2011.
Amends the American Recovery and Reinvestment Act of 2009 to extend through such date the authority to extend increased loan guarantees to small business lenders and to eliminate certain loan fees.
Authorizes the Administrator of the Small Business Administration (SBA), through such date, to make loans to small businesses located in an economic disaster area.
Amends the Emergency Economic Stabilization Act of 2008 to direct the Secretary of the Treasury to transfer to the Administrator necessary amounts to carry out this Act.