HR 5029
114th Congress
House
Commerce
Government lending and loan guarantees
Small business
Unemployment
User charges and fees
Small Business Lending Assistance Act of 2016
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 21, 2016
Referred to the House Committee on Small Business.
Apr 21, 2016
Introduced in House
Plain-English summary
Small Business Lending Assistance Act of 2016
This bill amends the Small Business Act with respect to guarantee fees for small business loans.
The Small Business Administration (SBA) shall have discretion not to collect a guarantee fee for a loan repayable in one year or less.
The SBA may not, however, collect a guarantee fee in connection with a loan repayable in one year or less if it is made to a borrower that resides in a county with an annual unemployment rate for the preceding calendar year of at least one percentage point greater than the national annual unemployment rate for that year.
What's happening now
Referred to the House Committee on Small Business.
Committees of jurisdiction
1