H. R. 2461
IN THE HOUSE OF REPRESENTATIVES
June 20, 2013
Ms. Hahn introduced the following bill; which was referred to the Committee on Small Business
To amend the Small Business Act to make permanent the Small Loan Advantage program, and for other purposes.
This Act may be cited as the
SBA Loan Paperwork Reduction Act of
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:
Small loan advantage
The Administrator shall carry out a Small Loan Advantage program in accordance with this paragraph.
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—
under which lenders were eligible to begin submitting loans on February 15, 2011; and
as in effect on June 1, 2013.
Nonapplicability of pilot program limitations
No limitation under paragraph (25)(A) applies to the Small Loan Advantage program under this paragraph.
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.