S.1828 - Increasing Small Business Lending Act of 2011

A bill to increase small business lending, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to increase small business lending, and for other purposes. as introduced.
  • Short: Increasing Small Business Lending Act of 2011 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
11/08/11
 
 
 
 
 
 
 

Official Summary

Increasing Small Business Lending Act of 2011 - Amends the American Recovery and Reinvestment Act of 2009 to extend small business loan fee reductions and eliminations and small business loan guarantees under such Act to one year after the enactment of this Act. Makes uniform between the Sm

Official Summary

Increasing Small Business Lending Act of 2011 - Amends the American Recovery and Reinvestment Act of 2009 to extend small business loan fee reductions and eliminations and small business loan guarantees under such Act to one year after the enactment of this Act. Makes uniform between the Small Business Administration (SBA) section 7(a) loan program and the SBA local development business loan program the office space leasing policy, allowing up to 50% of a facility to be leased on either a new or existing building. Allows the SBA Administrator to pool (combine for sale on the secondary market) SBA-guaranteed loans having various interest rates. (Currently, the SBA may pool only SBA-guaranteed loans having the same interest rate.) Requires interest rates on trust certificates representing shares of pooled loans to be the weighted average interest rate of such loans. Requires the SBA to provide to intermediary lenders at least one alternative interest rate other than the Wall Street prime rate.

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