U.S. Congress - S.416 Small Business Intermediary Lending Pilot Program Act of 2005
S.416 - Small Business Intermediary Lending Pilot Program Act of 2005
A bill to establish a pilot program to provide low interest loans to nonprofit, community-based lending intermediaries, to provide midsize loans to small business concerns, and for other purposes. view all titles (2)
All Bill Titles
- Short: Small Business Intermediary Lending Pilot Program Act of 2005 as introduced.
- Official: A bill to establish a pilot program to provide low interest loans to nonprofit, community-based lending intermediaries, to provide midsize loans to small business concerns, and for other purposes. as introduced.
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Official Summary
2/17/2005--Introduced.Small Business Intermediary Lending Pilot Program Act of 2005 - Establishes a three-year small business intermediary lending pilot program under which the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending intermediaries for the puOfficial Summary
2/17/2005--Introduced.
Small Business Intermediary Lending Pilot Program Act of 2005 - Establishes a three-year small business intermediary lending pilot program under which the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending intermediaries for the purpose of making fixed interest rate and mid-size loans ($35,000 to $200,000) to startup, newly-established, and growing small businesses. Authorizes the SBA, under the program, to make one percent, 20-year loans of up to $1 million, on a competitive basis, to up to 20 nonprofit lending intermediaries. Requires geographic diversity and representation of urban and rural communities under the program.
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