US Congress Senate Bill 1445 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on May 21 2015 - 25% progression, died in committee
Action: 2015-05-21 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]

Microloan Act of 2015 This bill amends the Small Business Act to revise requirements for the Small Business Administration (SBA) Microloan Program (direct loans to eligible intermediaries for making fixed interest rate microloans to startup, newly established, or growing small businesses). The bill repeals the authority for each intermediary to expend certain grant amounts to: (1) provide information and technical assistance to small businesses that are prospective borrowers, and (2) enter into third party contracts to provide technical assistance. The bill also repeals minimum allocation requirements and authority to redistribute portions of remaining microloan funds in the third quarter. It is the sense of Congress that the SBA should promote the Microloan Program to encourage entrepreneurs to use it.

Microloan Act of 2015

Sen. Deb Fischer [R-NE]

Sen. Maria Cantwell [D-WA]

Sen. Gary Peters [D-MI]

Sen. Tim Scott [R-SC]

Date	Chamber	Action
2015-05-21	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1445/all-info
Text	https://www.congress.gov/114/bills/s1445/BILLS-114s1445is.pdf