II 111th CONGRESS 1st Session S. 2808 IN THE SENATE OF THE UNITED STATES November 20, 2009 Mrs. Shaheen introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To improve the Express Loan Program of the Small Business Act.

1.

Short title

This Act may be cited as the Express Loan Improvements Act of 2009.

2.

Express Loan Program

(a)

In general

Section 7(a)(31) of the Small Business Act (15 U.S.C. 636(a)(31)) is amended— (1)in subparagraph (A)(iii), by striking 50 percent and inserting 75 percent; and (2)in subparagraph (D), by striking $350,000 and inserting $1,000,000. (b)

Prospective repeal

Effective 2 years after the date of enactment of this Act, section 7(a)(31)(A)(iii) of the Small Business Act (15 U.S.C. 636(a)(31)(A)(iii)) is amended by striking 75 percent and inserting 50 percent.