H.R.4652 - Increasing Small Business Lending Act113th Congress (2013-2014)
|Sponsor:||Rep. Tierney, John F. [D-MA-6] (Introduced 05/09/2014)|
|Committees:||House - Small Business|
|Latest Action:||05/09/2014 Referred to the House Committee on Small Business.|
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Summary: H.R.4652 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (05/09/2014)
Increasing Small Business Lending Act - Amends the Small Business Act to suspend, until September 30, 2015, fees under the 7(a) program (SBA-guaranteed loans to small businesses) and the 504 program (financing to small businesses backed by SBA-guaranteed debentures issued by any qualified state or local development company).
Authorizes the SBA to guarantee up to 90% of a loan made by a private lender to a small business eligible for a loan guarantee under the Small Business Act or the Small Business Investment Act of 1958. Prohibits such guarantees with respect to small businesses: (1) in which an unlawful alien has an ownership interest, or (2) in violation of immigration laws.