Small Business Energy Loan Act

(House agreed to Senate amendments with amendments)

Small Business Energy Loan Act - Amends the Small Business Act to empower the Small Business Administration to make loans, directly or in cooperation with banks and lending institutions, to assist small business concerns in financing plant construction, conversion, expansion, or start up, and the acquisition of such items as equipment, facilities, and supplies to enable such concerns to design, manufacture, market, and install and service solar energy or renewable energy sources equipment. States that such concerns may receive loans for such energy measures as photovoltaic cells and related equipment, equipment designed to produce energy from biomass and from industrial wastes, hydroelectric power equipment, wind energy conversion equipment, and equipment and services designed to conserve energy by increasing the efficiency of existing equipment.

Makes firms which provide professional engineering or architectural services which conserve energy or apply renewable energy measures as their main objective eligible for loans. Stipulates that such loans may not be used primarily for research and development.

Establishes the ceiling for guaranteed loans at $500,000 and for direct loans at $350,000.

Sets forth criteria applicants must meet before qualifying for any loan under this Act.

Specified that the SBA not guarantee more than 90 percent of a loan. Sets the interest rate for this program. Requires loans to be of sound value as reasonably to assure repayment.

States that it is the intent of Congress that the paperwork burden and regulatory impact on applicants shall be minimized to the maximum extent practicable. Requires the SBA to: (1) issue regulations governing this program within 180 days of enactment; (2) hold seminars to inform businesses of this program; and (3) provide grants to private groups for seminars.

Authorizes the appropriations of $30,000,000 for direct loans and $45,000,000 for guaranteed loans.

Directs the Administrator to report annually on the number and amount of loans, applications, and defaults, and on the energy savings achieved and the number of jobs created by firms through loans under this program.

Authorizes appropriations to the Administration for fiscal year 1979 to carry out the programs of this Act.