A bill to establish the Patriot Express Loan Program under which the Small Business Administration may make loans to members of the military community wanting to start or expand small business concerns, and for other purposes.
Patriot Express Authorization Act of 2011 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish a Patriot Express Loan Program to guarantee loans made by express lenders to eligible members of the military community. Includes as eligible members: (1) a veteran, including a service-disabled veteran; (2) a member of the Armed Forces on active duty who is eligible to participate in the Transition Assistance Program; (3) the spouse of the above individuals; (4) the widowed spouse of a deceased veteran or member who died due to a service-connected disability; and (5) the widowed spouse of a deceased member to whom the Department of Defense (DOD) may provide for the recovery, care, and disposition of the remains of an individual who died while on active duty or during inactive-duty training. Allows such loans to be used for any business purpose. Limits: (1) individual loans to $1 million, and (2) the loan fee charged to 75% of that charged for SBA general small business loans.
Requires the Director of the Office of Management and Budget (OMB) to coordinate with the heads of executive departments and independent establishments to: (1) develop a strategy to reduce government printing costs during the 10-year period beginning on September 1, 2011; and (2) issue government-wide guidelines for printing that implements the strategy.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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