U.S. Congress - S.985 Small Business Intermediary Lending Pilot Program Act of 2007
S.985 - Small Business Intermediary Lending Pilot Program Act of 2007
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
- 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.
- Short: Small Business Intermediary Lending Pilot Program Act of 2007 as introduced.
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Official Summary
3/26/2007--Introduced.Small Business Intermediary Lending Pilot Program Act of 2007 - Establishes a three-year small business intermediary lending pilot program under which the Administrator of the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending inteOfficial Summary
3/26/2007--Introduced.Small Business Intermediary Lending Pilot Program Act of 2007 - Establishes a three-year small business intermediary lending pilot program under which the Administrator of 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 Administrator, under the program, to make one percent, 20-year loans of up to $1 million, on a competitive basis, to up to 20 lending intermediaries. Requires geographic diversity and representation of urban and rural communities under the program.
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