3.0.0 1713 2023-01-15T08:03:20Z 2023-01-15T08:03:20Z Senate S S 2003-10-03 108 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2003-10-03T15:25:42Z 2003-10-03 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S12460-12461) IntroReferral 2003-10-03 Sponsor introductory remarks on measure. (CR S12458-12460) IntroReferral B00100 9 Library of Congress 2003-10-03 Introduced in Senate IntroReferral 10000 9 Library of Congress S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. N P000590 Sen. Pryor, Mark L. [D-AR] Mark Pryor D AR Lunsford 2003-10-03 True B000611 Sen. Bond, Christopher S. [R-MO] CHRISTOPHER BOND R MO S. 2003-10-03 True Commerce Economics and Public Finance Federally-guaranteed loans Finance and Financial Sector Government lending Small business Commerce 00 2003-10-03 Introduced in Senate 2003-11-04T21:08:08Z Small Business Credit Liquidity Act of 2003 - Amends the Small Business Investment Act of 1958 to authorize the Small Business Administration (SBA), in order to encourage lenders to increase the availability of small business financing by improving lender access to reasonable funding sources, to provide a credit enhancement guarantee of, or a commitment to guarantee, a portion of the principal and interest on securities issued and managed by not less than two qualified entities authorized and approved by the SBA. Requires the SBA to set and maintain standards for qualified entities, including standards relating to delinquency, default, liquidation, and loss rates.

Makes the SBA's credit enhancement guarantees second-loss guarantees, available only after the full payment of guarantees offered by the qualified entities authorized to act as issuers and managers of pools or trusts of loans. Provides loan pool or trust requirements and credit enhancement limits for FY 2004 through 2006. Directs the SBA to charge and collect a fee from issuers based on the SBA's guaranteed amount of issued securities.

]]> Small Business Credit Liquidity Act of 2003 Display Title Small Business Credit Liquidity Act of 2003 Official Title as Introduced A bill to amend title IV of the Small Business Investment Act of 1958, relating to a pilot program for credit enhancement guarantees on pools of non-SBA loans. Introduced in Senate IS Short Titles as Introduced Small Business Credit Liquidity Act of 2003 Introduced in Senate 2003-10-03T04:00:00Z 2003-10-03 Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S12460-12461) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.