US HB2056 | 2017-2018 | 115th Congress


Spectrum: Slight Partisan Bill (Democrat 9-3)
Status: Engrossed on July 25 2017 - 50% progression
Action: 2017-07-25 - Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Engrossed) [PDF]


Microloan Modernization Act of 2017 (Sec. 3) This bill amends the Small Business Act, with respect to the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business), to increase from $5 million to $6 million the total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund for the remaining years of the intermediary's participation in the program. (Sec. 4) SBA-designated microloan intermediary lenders may expend up to 50% (currently, 25%) of the intensive marketing, management, and technical assistance grant funds they receive from the SBA to provide information and technical assistance to small business concerns that are their prospective borrowers. (Sec. 5) The SBA shall: compare the operations of a representative sample of eligible intermediaries that participate in the microloan program and of eligible intermediaries that do not, study the reasons why the latter do not participate, recommend how to encourage increased participation by intermediaries in the microloan program, and recommend how to decrease the associated costs for intermediary participation. (Sec. 6) The Government Accountability Office shall evaluate: SBA oversight of the microloan program, including oversight of participating intermediaries; and the specific processes the SBA uses to ensure program compliance by participating intermediaries and overall microloan program performance.

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Microloan Modernization Act of 2017



2017-07-25SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
2017-07-24HouseMotion to reconsider laid on the table Agreed to without objection.
2017-07-24HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6180)
2017-07-24HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 2056.
2017-07-24HouseConsidered under suspension of the rules. (consideration: CR H6179-6181)
2017-07-24HouseMr. Chabot moved to suspend the rules and pass the bill, as amended.
2017-07-12HousePlaced on the Union Calendar, Calendar No. 150.
2017-07-12HouseReported (Amended) by the Committee on Small Business. H. Rept. 115-214.
2017-06-15HouseOrdered to be Reported (Amended).
2017-06-15HouseCommittee Consideration and Mark-up Session Held.
2017-04-06HouseReferred to the House Committee on Small Business.
2017-04-06HouseIntroduced in House

Same As/Similar To

SB526 (Same As) 2018-03-19 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 346.
HB5515 (Related) 2018-07-11 - Message on Senate action sent to the House.
SB2873 (Related) 2018-05-17 - Read twice and referred to the Committee on Finance.


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Bill Comments