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HR 2130 103th Congress House Commerce Federally-guaranteed loans Interest rates Securities Small business

Small Business 503 Loan Refinancing Assistance Act of 1993

Introduced: May 17, 1993 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 15, 1993
Referred to the Subcommittee on SBA Legislation and the General Economy.
May 17, 1993
Referred to the House Committee on Small Business.
May 17, 1993
Sponsor introductory remarks on measure. (CR E1259)
May 17, 1993
Introduced in House
 Plain-English summary Congressional Research Service

Small Business 503 Loan Refinancing Assistance Act of 1993 - Amends the Small Business Investment Act of 1958 to permit a qualified State or local development company that issues a debenture purchased by the Federal Financing Bank (Bank) and guaranteed by the Small Business Administration (SBA), at the election of the small business borrower whose loan secures such debenture, to: (1) continue to make payments under the original debenture terms; (2) make payments at an adjusted interest rate; or (3) prepay the debenture to the Bank by paying the unpaid principal balance and the amount of the repurchase premium (determined under this Act).

Prohibits any fees or penalties other than those specified in this Act from being imposed against the issuer, borrower, or the SBA as a condition for adjusting the interest rate or prepayment.

What's happening now July 15, 1993

Referred to the Subcommittee on SBA Legislation and the General Economy.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 4