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S 2487 113th Congress Senate Commerce Business investment and capital Government information and archives Government lending and loan guarantees Minority and disadvantaged businesses Performance measurement Small business

Access to Capital, Access to Opportunity Act

Introduced: June 18, 2014 Introduced by: Fischer, Deb Republican · Nebraska See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 18, 2014
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jun 18, 2014
Introduced in Senate
 Plain-English summary Congressional Research Service

Access to Capital, Access to Opportunity Act - Amends the Small Business Act to increase from $50,000 to $100,000 the maximum amount of a loan under the microloan program.

Authorizes the Administrator of the Small Business Administration (SBA) to use amounts made available for administrative expenses to carry out the direct and guaranteed loan programs to pay for any costs associated with these increases.

Requires the Administrator to develop and adopt outcome-oriented standards to measure the microloan program's performance, including the recommendations provided in the SBA Office of Inspector General Memorandum ROM-10-10, "SBA's Administration of the Microloan Program under the Recovery Act," issued December 28, 2009.

Authorizes the Administrator to educate individuals, including owners and operators of small businesses and aspiring entrepreneurs, about the microloan program.

What's happening now June 18, 2014

Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1