[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 174 Engrossed in Senate (ES)]

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
107th CONGRESS
  1st Session
                                 S. 174

_______________________________________________________________________

                                 AN ACT


 
To amend the Small Business Act with respect to the microloan program, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Microloan Program Improvement Act of 
2001''.

SEC. 2. MICROLOAN PROGRAM.

    (a) In General.--Section 7(m) of the Small Business Act (15 U.S.C. 
636(m)) is amended--
            (1) in paragraph (1)(B)(i), by striking ``short-term,'';
            (2) in paragraph (2)(B), by inserting before the period ``, 
        or equivalent experience, as determined by the 
        Administration'';
            (3) in paragraph (4)(E)--
                    (A) by striking clause (i) and inserting the 
                following:
                            ``(i) In general.--Each intermediary may 
                        expend the grant funds received under the 
                        program authorized by this subsection to 
                        provide or arrange for loan technical 
                        assistance to small business concerns that are 
                        borrowers or prospective borrowers under this 
                        subsection.''; and
                    (B) in clause (ii), by striking ``25'' and 
                inserting ``35''; and
            (4) in paragraph (9), by adding at the end the following:
                    ``(D) Peer-to-peer capacity building and 
                training.--The Administrator may use not more than 
                $1,000,000 of the annual appropriation to the 
                Administration for technical assistance grants to 
                subcontract with 1 or more national trade associations 
                of eligible intermediaries, or other entities 
                knowledgeable about and experienced in microlending and 
                related technical assistance, under this subsection to 
                provide peer-to-peer capacity building and training to 
                lenders under this subsection and organizations seeking 
                to become lenders under this subsection.''.
    (b) Conforming Amendment.--Section 7(m)(11)(B) of the Small 
Business Act (15 U.S.C. 636(m)(11)(B)) is amended by striking ``short-
term,''.

SEC. 3. MICROLOAN PROGRAM CORRECTION.

    Section 7(m)(3)(F)(iii) of the Small Business Act (15 U.S.C. 
636(m)(3)(F)(iii)) is amended by striking ``$7,500'' and inserting 
``$10,000''.

            Passed the Senate November 16, 2001.

            Attest:

                                                             Secretary.
107th CONGRESS

  1st Session

                                 S. 174

_______________________________________________________________________

                                 AN ACT

To amend the Small Business Act with respect to the microloan program, 
                        and for other purposes.