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H.R. 6348 (115th): Small Business ACE Act

H.R. 6348 would update the Small Business Administration’s (SBA) 504/Certified Development Company Loan Program’s commercial real estate appraisal threshold to match the level set by federal banking regulators.

After more than two decades, federal banking regulators decided to update and modernize the real estate appraisal threshold from $250,000 to $500,000. Due to the 504/CDC Loan Program threshold value being codified in statute, H.R.6348 was introduced to modernize SBA's real estate appraisal threshold.

Last updated Sep 25, 2018. Source: Republican Policy Committee

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 25, 2018.


Small Business Access to Capital and Efficiency Act or the Small Business ACE Act

(Sec. 2) This bill amends the Small Business Investment Act of 1958 to revise the loan amount above which a real estate appraisal is required for the commercial real property securing a Certified Development Company loan. Specifically, the bill ties the amount to the federal banking regulator appraisal threshold. (Currently, an appraisal is required for a loan of more than $250,000.)