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S. 966 (114th): CREED Act of 2015

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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 Jun 10, 2015.

Commercial Real Estate and Economic Development Act of 2015 or the CREED Act of 2015

(Sec. 2) Reinstates the authority for Small Business Administration (SBA) low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program, effective:

on and after enactment of this Act, and during any fiscal year in which the federal government's cost in making loan guarantees under such program is zero. Repeals a provision of the Small Business Jobs Act of 2010 that terminated such authority as of September 27, 2012.