S.2283 - Small Business 7(a) Lending Oversight Reform Act of 2018115th Congress (2017-2018)
|Sponsor:||Sen. Risch, James E. [R-ID] (Introduced 01/09/2018)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Committee Reports:||S. Rept. 115-265|
|Latest Action:||Senate - 06/05/2018 By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-265. (All Actions)|
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Summary: S.2283 — 115th Congress (2017-2018)All Information (Except Text)
Reported to Senate with amendment(s) (03/19/2018)
Small Business 7(a) Lending Oversight Reform Act of 2018
This bill amends the Small Business Act to provide statutory authority for the Small Business Administration (SBA) Office of Credit Risk Management and the SBA Lender Oversight Committee.
For FY2018 and each ensuing fiscal year, the SBA may, with congressional approval, increase the cap for general business loans if the cap will be reached within that fiscal year. An increase may only be implemented once each fiscal year.