S. 1274 (103rd): Small Business Guaranteed Credit Enhancement Act of 1993

Introduced:
Jul 21, 1993 (103rd Congress, 1993–1994)
Status:
Signed by the President
Slip Law:
This bill became Pub.L. 103-81.
Sponsor
Dale Bumpers
Senator from Arkansas
Party
Democrat
Text
Read Text »
Last Updated
Aug 05, 1993
Length
5 pages
Related Bills
H.R. 2766 (Related)
To amend the 7(a) Loan Program, and for other purposes.

Passed House
Last Action: Aug 02, 1993

 
Status

This bill was enacted after being signed by the President on August 13, 1993.

Progress
Introduced Jul 21, 1993
Referred to Committee Jul 21, 1993
Reported by Committee Jul 28, 1993
Passed Senate Jul 30, 1993
Passed House Aug 04, 1993
Signed by the President Aug 13, 1993
 
Full Title

An Act to reduce the subsidy cost for the Guaranteed Business Loan Program of the Small Business Administration, and for other purposes.

Summary

No summaries available.

Cosponsors
13 cosponsors (11D, 2R) (show)
Committees

House Small Business

Senate Small Business and Entrepreneurship

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


8/4/1993--Passed House amended.
Small Business Guaranteed Credit Enhancement Act of 1993 - Amends the Small Business Act (the Act) to increase the FY 1993 and 1994 authorizations of appropriations for loans to State and local development companies for community business development programs.
Authorizes the Small Business Administration (SBA) to:
(1) collect additional fees after August 31, 1995, on loans made under the Act which are sold on the secondary market;
(2) permit participating lenders to charge a late fee to loan borrowers who fail to make timely payments; and
(3) reduce the maximum loan guarantees on real estate loans above $155,000 and on loans made under the Preferred Lenders Program. Directs the SBA to study and report to the Congress on the effect of the SBA's authority to impose secondary market fees and to reduce loan guarantee percentages on the ability of small businesses; including minority- and woman-owned small businesses, to obtain financing and the viability of the secondary market in SBA guaranteed loans.
Terminates the SBA's authority to impose such fees and reduce such percentages as of FY 1996.
Makes the following revisions with respect to the Microloan Demonstration Program (the provision of loans and grants to startup, newly established, or growing small businesses):
(1) increases from $15,000 to $25,000 the maximum loan which may be guaranteed by an intermediary;
(2) increases the maximum grant amounts to such intermediaries for such purpose; and
(3) increases from three to seven percent the maximum appropriated amount which may be used for training purposes.
Authorizes the SBA to make grants or enter into cooperative arrangements in order to carry out the Small Business Development Center Program. Extends the authorization of appropriations for such Program through FY 1994.
Strikes a provision prohibiting regulations concerning the Program from being printed in the Federal Register. Revises the dates of conferences to be held by the National White House Conference on Small Business. Extends through FY 1994 the authorization of appropriations for the National Women's Business Council and terminates the Council on November 30, 1995.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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