[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2487 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2487

  To amend the Small Business Act to increase the maximum loan limits 
          under the microloan program, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 18, 2014

Mrs. Fischer (for herself and Mr. Scott) introduced the following bill; 
 which was read twice and referred to the Committee on Small Business 
                          and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Act to increase the maximum loan limits 
          under 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 ``Access to Capital, Access to 
Opportunity Act''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the terms ``Administration'' and ``Administrator'' mean 
        the Small Business Administration and the Administrator 
        thereof, respectively;
            (2) the term ``microloan program'' means the program 
        established under section 7(m) of the Small Business Act (15 
        U.S.C. 636(m)); and
            (3) the term ``small business concern'' has the meaning 
        given the term under section 3 of the Small Business Act (15 
        U.S.C. 632).

SEC. 3. MAXIMUM LOAN LIMITS UNDER 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)(iii), by striking ``$50,000'' and 
        inserting ``$100,000'';
            (2) in paragraph (3)(E), by striking ``$50,000'' each place 
        that term appears and inserting ``$100,000''; and
            (3) in paragraph (11)(B), by striking ``$50,000'' and 
        inserting ``$100,000''.
    (b) Funding.--The Administrator may use amounts made available to 
the Administrator for administrative expenses to carry out the direct 
and guaranteed loan programs to pay for any costs associated with the 
amendments made under subsection (a).

SEC. 4. ADOPTION OF OUTCOME-ORIENTED PERFORMANCE MEASURES.

    Not later than 180 days after the date of enactment of this Act, 
the Administrator shall develop and adopt outcome-oriented standards to 
measure the performance of the microloan program, including the 
recommendations provided in the Office of the Inspector General of the 
Administration Memorandum ROM-10-10, SBA's Administration of the 
Microloan Program under the Recovery Act, issued December 28, 2009.

SEC. 5. EDUCATION ON THE MICROLOAN PROGRAM.

    Section 7(m)(1)(B) of the Small Business Act (15 U.S.C. 
636(m)(1)(B)) is amended--
            (1) in clause (ii), by striking ``and'' at the end;
            (2) in clause (iii), by striking the period at the end and 
        inserting ``; and''; and
            (3) by adding at the end the following:
                            ``(iv) to educate individuals, including 
                        owners and operators of small business concerns 
                        and aspiring entrepreneurs, about the microloan 
                        program.''.
                                 <all>