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Bill115th CongressFiled Apr 6, 2017Commerce
H.R. 2056

Microloan Modernization Act of 2017

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jul 24, 2017)

(This measure has not been amended since it was reported to the House on July 12, 2017. The summary of that version is repeated here.)

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.

What just happenedJul 25, 2017

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

Who’s behind it

Rep. Murphy, Stephanie N. [D-FL-7](D-FL)Sponsor
11 cosponsors8 D3 R
Read on Congress.gov
11cosponsors2committees15actions5related bills5subjects
  1. Jul 25, 2017IntroReferral

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

    Small Business and Entrepreneurship Committee
  2. Jul 24, 2017FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 24, 2017FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6180)

  4. Jul 24, 2017Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6180)

  5. Jul 24, 2017FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 2056.

  6. Jul 24, 2017FloorH30000

    Considered under suspension of the rules. (consideration: CR H6179-6181)

  7. Jul 24, 2017FloorH30300

    Mr. Chabot moved to suspend the rules and pass the bill, as amended.

  8. Jul 12, 2017CalendarsH12410

    Placed on the Union Calendar, Calendar No. 150.

  9. Jul 12, 2017CommitteeH12200

    Reported (Amended) by the Committee on Small Business. H. Rept. 115-214.

    Small Business Committee
  10. Jul 12, 2017Committee5000

    Reported (Amended) by the Committee on Small Business. H. Rept. 115-214.

    Small Business Committee
  11. Jun 15, 2017Committee

    Ordered to be Reported (Amended).

    Small Business Committee
  12. Jun 15, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Small Business Committee
  13. Apr 6, 2017IntroReferralH11100

    Referred to the House Committee on Small Business.

    Small Business Committee
  14. Apr 6, 2017IntroReferralIntro-H

    Introduced in House

  15. Apr 6, 2017IntroReferral1000

    Introduced in House

Passed House amendedJul 24, 201736

(This measure has not been amended since it was reported to the House on July 12, 2017. The summary of that version is repeated here.)

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.
Reported to House with amendment(s)Jul 12, 201717

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.
Introduced in HouseApr 6, 2017

Microloan Modernization Act of 2017

This bill amends the Small Business Act to repeal the "25/75" rule under the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business) that permits SBA-designated microloan intermediary lenders to expend up to 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.

The total amount of loans outstanding and committed to any particular intermediary (excluding outstanding grants) from the SBA business loan and investment fund shall be increased from $5 million to $6 million for the remaining years of the intermediary's participation in the program.

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.

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.
Microloan Modernization Act of 2017 — Informed