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H.R. 4302 (111th): Small Business Job Creation and Access to Capital Act of 2009

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Dec 14, 2009.

Small Business Job Creation and Access to Capital Act of 2009 - Amends the Small Business Act to increase maximum amounts of loans under the following Small Business Administration (SBA) loan programs: (1) the section 7(a) (general small business loans) guaranteed loan program; (2) the section 504 (state and local development company) program; and (3) the Microloan (small-scale loans to start-up, newly-established, and growing small businesses) program.

Amends the American Recovery and Reinvestment Act of 2009 to extend through 2010 SBA authority to reduce or eliminate loan fees on section 7(a) and 504 loans.

Amends the Small Business Investment Act of 1958 to apply single-business investment limits to SBA-recognized new markets venture capital companies.

Directs the SBA Administrator to establish for prospective borrowers an alternative small business size standard that uses maximum tangible net worth and average net income as an alternative to the use of industry standards.

Expresses the sense of Congress that the Administrator should establish a website that: (1) lists SBA lenders and provides loan rate information; and (2) allows prospective borrowers to compare rates on SBA-guaranteed loans.

Amends provisions of the Small Business Investment Act of 1958 relating to the local development business loan program to allow a small business borrower under such program to refinance a previous business debt: (1) that was incurred no less than two years before application for the SBA loan; (2) that is a commercial loan; (3) that is not guaranteed by a federal agency; (4) the proceeds of which were used to acquire a fixed asset for the benefit of the small business; (5) that is collateralized by fixed assets; and (6) for which the borrower has been current on all payments for at least one year. Allows the Administrator to provide financing under such program for a borrower that meets certain job creation or retention goals. Provides an alternate job retention goal for which a borrower may qualify.