H.R.6237 - A bill to amend the Small Business Act to require that priority be given to applications for matching loans for small business concerns located in labor surplus areas.97th Congress (1981-1982)
|Sponsor:||Rep. McDade, Joseph M. [R-PA-10] (Introduced 04/29/1982)|
|Committees:||House - Small Business|
|Latest Action:||House - 04/29/1982 Referred to House Committee on Small Business. (All Actions)|
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Summary: H.R.6237 — 97th Congress (1981-1982)All Information (Except Text)
Introduced in House (04/29/1982)
Amends the Small Business Act to require that Small Business Administration (SBA) loans be made on the following priority basis: (1) where the use of the loan will result in the creation of multiple employment opportunities in any labor surplus area; (2) where the proceeds of the SBA's share of the loan will be used to purchase, construct, or rehabilitate buildings or to purchase machinery or equipment to be located in any labor surplus area; and (3) other cases. Specifies the maximum amount of the SBA's share of any such loan.
Eliminates authorizations for FY 1983 and 1984 for: (1) SBA loans to small businesses located in areas with high unemployment and low incomes or owned by low-income individuals; and (2) SBA loans to small businesses engaged in the design, manufacture, or sale of energy measures.