1.This Act may be cited as the
SBA Loan Paperwork Reduction Act of
2012
.
2.Small Loan
Advantage programSection 7(a)
of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end
the following:
(36)
(A)The
Administrator shall carry out a Small Loan Advantage program in accordance with
this paragraph.
(B)Administration
of programExcept as
otherwise provided under this paragraph, the Administrator shall carry out the
Small Loan Advantage program in the same manner as the Small Loan Advantage
loan initiative of the Administration—
(i)under which
lenders were eligible to begin submitting loans on February 15, 2011;
and
(ii)as in effect on
January 24, 2012.
(C)Nonapplicability
of pilot program limitationsNo limitation under paragraph (25)(A)
applies to the Small Loan Advantage program under this
paragraph.
.