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H.R. 4938 (111th): To permit the use of previously appropriated funds to extend the Small Business Loan Guarantee Program, and for other purposes.

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


3/26/2010--Public Law. Makes up to $40 million of funds appropriated for the business loan program of the Small Business Administration (SBA) under the Consolidated Appropriations Act, 2010 available for small business loan fee reductions and eliminations and the cost of guaranteed loans authorized under the American Recovery and Reinvestment Act of 2009 (ARRA).

Amends ARRA to extend from March 28, 2010, through April 30, 2010, the authority of the SBA to guarantee up to 90% of qualifying small business loans made by eligible lenders under the Small Business Act or the Small Business Investment Act of 1958.