A bill to establish portfolio quality standards, improve lender oversight by the Small Business Administration, create economic outcome and performance measurements, strengthen the loan programs under section 7(a) of the Small Business Act and title V of the Small Business Investment Act of 1958, and for other purposes.

11/1/2007--Introduced.
Small Business Lending Oversight and Program Performance Improvement Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to develop and publish portfolio quality evaluation standards to evaluate the loan portfolios of lenders participating in the section 7(a) (SBA-guaranteed loans to small businesses) and 504 (financing to small businesses funded by SBA-guaranteed debentures) programs of the Small Business Act. Requires the standards to measure the rates of loan liquidation, currency, recovery, and delinquency, and to be used by the Administrator to determine lender portfolio quality and to conduct lender oversight. Requires quarterly lender evaluations, and allows for onsite reviews of covered lenders. Directs the Administrator to:
(1) calculate loan default rates;
(2) inform lenders of their portfolio quality ranking;
(3) develop and publish loan recipient economic performance evaluation measurements; and
(4) ensure the privacy of collected information. Amends the Small Business Investment Act of 1958 to require a state or local development company (lender) participating in an SBA loan program to execute a written contract with each executive or highly paid company employee which includes the amount of compensation, benefits, and transfer of anything of value to that executive or employee. Requires such contract to be approved by that company's board of directors. Directs the Comptroller General to conduct a study of the 7(a) loan program relating to lender oversight and portfolio examination and review fees.


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Sponsor

• Sen. Olympia Snowe [R, ME]
• and 1 Co-Sponsors
  • Sen. John Kerry [D, MA]
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Committees

• Senate Small Business and Entrepreneurship

Amendments

This bill has no amendments.

Amendments to S.2288

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
November 01, 2007

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All Bill Actions

• Nov 01, 2007: Read twice and referred to the Committee on Small Business and Entrepreneurship.
• Nov 01, 2007: Sponsor introductory remarks on measure. (CR S13689)
• Introduced on Nov 01, 2007.

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Related Issue Areas:

• Standards
• Small business investment companies
• Small business
• Securities
• 12 more
• Right of privacy
• Performance measurement
• Loan defaults
• Finance
• Federally-guaranteed loans
• Executive compensation
• Contracts
• Congressional investigations
• Congress
• Civil liberties
• Budgets
• Business

Data from the Congressional Research Service

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In the News

December 05, 2007 Kerry Pledges Aggressive Oversight of BLX

The Small Business Lending Oversight and Program Performance Improvements Act (S. 2288) will ensure that the SBA fully assesses the quality and performance ...

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Source: Earthtimes, UK

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December 05, 2007 Kerry Pledges Aggressive Oversight of BLX

The Small Business Lending Oversight and Program Performance Improvements Act (S. 2288) will ensure that the SBA fully assesses the quality and performance ...

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Source: PR Newswire (press release), NY

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November 13, 2007 Kerry Pushes for Increased Lender Oversight in Wake of $76 Million ...

The Small Business Lending Oversight and Program Performance Improvements Act (S. 2288) will ensure that the SBA fully assesses the quality and performance ...

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Source: PR Newswire (press release), NY

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Blog Coverage

August 26, 2008 Presidential Candidates & Our Water

In 2006, McCain sponsored bipartisan legislation (S. 2288) requiring independent review of the Army Corps of Engineers’ water projects and for Corps projects to meet Clean Water Act standards. #2. In 2006 and 2007, McCain co-sponsored ...

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Source: Chemical Frog Blog

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December 05, 2007 Kerry Pledges Aggressive Oversight of BLX

The Small Business Lending Oversight and Program Performance Improvements Act (S. 2288) will ensure that the SBA fully assesses the quality and performance of lender portfolios so that these loan programs remain strong and benefit small ...

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Source: Financial Freedom. Best business news.

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December 05, 2007 Kerry Pledges Oversight Of Business Lender

The Small Business Lending Oversight and Program Performance Improvements Act (S. 2288) will ensure that the Small Business Administration fully assesses the quality and performance of lender portfolios so that these loan programs ...

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Source: On The Hill

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