To amend the Small Business Investment Act of 1958 to allow the Administrator of the Small Business Administration the authority to increase amount of commitments to qualified State or local development companies, and for other purposes.
504 Program Level Flexibility Act
This bill authorizes the Small Business Administration (SBA), upon a determination that the amount of its commitments to guarantee 504 loans could exceed the authorized limit, to guarantee up to 115% of that limit. Such loans, made through SBA community partners and certified by the SBA, provide long-term, fixed rate financing for major fixed assets that promote business growth and job creation.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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