S. 174 — Microloan Program Improvement Act of 2001

Summary

Microloan Program Improvement Act of 2001 - Amends provisions of the Small Business Act concerning the Microloan program (a program of start-up loans to small businesses) to: (1) remove the requirement that such loans be short-term; (2) allow up to 35 (currently 25) percent of grant funds made to intermediaries to be used to provide technical assistance to small businesses that are prospective borrowers under the program; and (3) authorize the Administrator of the Small Business Administration to use up to $1 million of the annual appropriations for technical assistance grants to subcontract with one or more national trade associations of eligible intermediaries or other knowledgeable entities to provide peer-to-peer capacity building and training to lenders and organizations seeking to become lenders under the program.

Authorizes the Administrator to make reduced interest rate loans to intermediaries that make Microloan small business loans which average not more than $10,000 (currently $7,500).

Legislative Actions

2001-01-24

Introduced in Senate

2001-01-24

Sponsor introductory remarks on measure. (CR S548-549)

2001-01-24

Read twice and referred to the Committee on Small Business. (text of measure as introduced: CR S549)

2001-02-28

Committee on Small Business. Ordered to be reported without amendment favorably.

2001-06-01

Committee on Small Business. Reported by Senator Bond under authority of the order of the Senate of 05/26/2001 without amendment. With written report No. 107-18.

2001-06-01

Committee on Small Business. Reported by Senator Bond under authority of the order of the Senate of 05/26/2001 without amendment. With written report No. 107-18.

2001-06-01

Placed on Senate Legislative Calendar under General Orders. Calendar No. 55.

2001-11-16

Measure laid before Senate. (consideration: CR S12013-12014)

2001-11-16

Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S12014)

2001-11-16

Passed Senate with an amendment by Unanimous Consent. (text: CR S12014)

2001-11-19

Message on Senate action sent to the House.

2001-11-19

Received in the House.

2001-11-19

Referred to the House Committee on Small Business.

2002-04-17

Committee Consideration and Mark-up Session Held.

2002-04-17

Ordered to be Reported (Amended).

Microloan Program Improvement Act of 2001

Sponsors

Subjects

Summary

Full Text

Legislative Actions

Ask about this bill