S. 1828 (112th): Increasing Small Business Lending Act of 2011

Introduced:
Nov 08, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. John Kerry [D-MA]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on November 8, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Nov 08, 2011
Referred to Committee Nov 08, 2011
Cosponsors
none
Committees

Senate Small Business and Entrepreneurship

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to increase small business lending, and for other purposes.

Summary

No summaries available.

Text

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Last updated Nov 08, 2011.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

11/8/2011--Introduced.
Increasing Small Business Lending Act of 2011 - Amends the American Recovery and Reinvestment Act of 2009 to extend small business loan fee reductions and eliminations and small business loan guarantees under such Act to one year after the enactment of this Act. Makes uniform between the Small Business Administration (SBA) section 7(a) loan program and the SBA local development business loan program the office space leasing policy, allowing up to 50% of a facility to be leased on either a new or existing building.
Allows the SBA Administrator to pool (combine for sale on the secondary market) SBA-guaranteed loans having various interest rates.
(Currently, the SBA may pool only SBA-guaranteed loans having the same interest rate.) Requires interest rates on trust certificates representing shares of pooled loans to be the weighted average interest rate of such loans.
Requires the SBA to provide to intermediary lenders at least one alternative interest rate other than the Wall Street prime rate.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

Slip Laws

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United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Statutes at Large

The United States Statutes at Large is the compilation of all laws enacted by Congress.

  • 123 Stat. 151
  • 123 Stat. 153