To increase lending to small businesses.
Increasing Small Business Lending Act - Amends the Small Business Act to suspend, until September 30, 2015, fees under the 7(a) program (SBA-guaranteed loans to small businesses) and the 504 program (financing to small businesses backed by SBA-guaranteed debentures issued by any qualified state or local development company).
Authorizes the SBA to guarantee up to 90% of a loan made by a private lender to a small business eligible for a loan guarantee under the Small Business Act or the Small Business Investment Act of 1958. Prohibits such guarantees with respect to small businesses: (1) in which an unlawful alien has an ownership interest, or (2) in violation of immigration laws.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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