< Back to H.R. 2461 (113th Congress, 2013–2015)

Text of the SBA Loan Paperwork Reduction Act of 2013

This bill was introduced on June 20, 2013, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jun 20, 2013 (Introduced).

I

113th CONGRESS

1st Session

H. R. 2461

IN THE HOUSE OF REPRESENTATIVES

June 20, 2013

introduced the following bill; which was referred to the Committee on Small Business

A BILL

To amend the Small Business Act to make permanent the Small Loan Advantage program, and for other purposes.

1.

Short title

This Act may be cited as the SBA Loan Paperwork Reduction Act of 2013 .

2.

Small Loan Advantage program

Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following:

(36)

Small loan advantage

(A)

Permanent establishment

The Administrator shall carry out a Small Loan Advantage program in accordance with this paragraph.

(B)

Administration of program

Except as otherwise provided under this paragraph, the Administrator shall carry out the Small Loan Advantage program in the same manner as the Small Loan Advantage loan initiative of the Administration

(i)

under which lenders were eligible to begin submitting loans on February 15, 2011; and

(ii)

as in effect on June 1, 2013.

(C)

Nonapplicability of pilot program limitations

No limitation under paragraph (25)(A) applies to the Small Loan Advantage program under this paragraph.

(D)

Increased flexibility

The Administrator is authorized to increase the program’s maximum loan amount, to reduce the program’s fees, and to further streamline the program’s loan approval process if the Administrator determines that such adjustments would be fair and appropriate.

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