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HR 3635 112th Congress House

Investing in America's Small Businesses Act of 2011

Official title: To encourage initiatives for financial products and services that are appropriate and accessible for millions of American small businesses that do not have access to the financial mainstream.

Introduced: December 16, 2011 See on congress.gov
Finance and Financial Sector Business investment and capitalCredit and credit marketsHousing and community development fundingSmall business
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 12, 2012
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Dec 12, 2011
Referred to the House Committee on Financial Services.
Dec 12, 2011
Sponsor introductory remarks on measure. (CR E2228)
Dec 12, 2011
Introduced in House
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 Latest action January 12, 2012

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Investing in America's Small Businesses Act of 2011 - Amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions to enable such institutions to establish a loan-loss reserve fund to defray the costs of a small business loan program.

Defines "small business loan program" as a program in which a community development financial institution offers loans to small businesses that: (1) are made in amounts up to $25,000, (2) have no prepayment penalty, and (3) meet any affordability requirements established by Administrator of the Fund.

Requires a community development financial institution to provide non-federal matching funds equal to 50% of the amount of any grant received.

Prohibits the use of such grants to make direct loans to small businesses.

Permits a community development financial institution to use such a grant to: (1) help recapture a portion or all of a defaulted loan made under its small business loan program, and (2) designate and utilize a fiscal agent for services the agent normally provides.

Requires the Fund to make technical assistance grants to community development financial institutions to create, support, or maintain such a program.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 10
All 10 Democratic 4
Richmond, Cedric
· May 15, 2012
JACKSON, JESSE
· Mar 28, 2012
OLVER, JOHN
· Mar 7, 2012
 D
Doggett, Lloyd
Texas · Mar 6, 2012
HINCHEY, MAURICE
· Feb 16, 2012
TOWNS, EDOLPHUS
· Feb 16, 2012
 D
Peters, Gary C.
Michigan · Feb 7, 2012
 D
Johnson, Henry C. "Hank"
Georgia · Dec 16, 2011
 D
Moore, Gwen
Wisconsin · Dec 16, 2011
Richardson, Laura
· Dec 12, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3635: Investing in America's Small Businesses Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-3635/
MLA
"H.R. 3635: Investing in America's Small Businesses Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-3635/.
Bluebook (legal)
H.R. 3635, 112th Cong. (2026), https://openamerica.io/bill/112-HR-3635/.
Markdown link
[H.R. 3635: Investing in America's Small Businesses Act of 2011](https://openamerica.io/bill/112-HR-3635/)
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