US SB347 | 2017-2018 | 115th Congress
Status
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 9 2017 - 25% progression, died in committee
Action: 2017-02-09 - 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]
Status: Introduced on February 9 2017 - 25% progression, died in committee
Action: 2017-02-09 - 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]
Summary
Investing in America's Small Manufacturers Act This bill amends the Small Business Act to authorize the Small Business Administration (SBA) to guarantee 90% of a loan to a small business manufacturing concern. The SBA may not collect a guarantee fee on these loans of more than $350,000. For loans exceeding this amount, the fee shall be 50% of the guarantee fee that the SBA would otherwise collect for the loan. The SBA must provide training to small manufacturers in obtaining SBA assistance, including on the application process and partnering with participating lenders. This bill authorizes the SBA and its partners to establish partnerships to facilitate outreach to small manufacturers with respect to the application process for SBA loan guarantees. A state or local development company's debenture issued to a small manufacturer for an SBA loan guarantee may not exceed 50% of the project's cost, subject to certain exceptions.
Title
Investing in America's Small Manufacturers Act
Sponsors
Sen. Christopher Coons [D-DE] | Sen. Cory Gardner [R-CO] | Sen. Kirsten Gillibrand [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2017-02-09 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Same As/Similar To
HB1186 (Same As) 2017-04-25 - Referred to the Subcommittee on Research and Technology.
Subjects
Advanced technology and technological innovations
Business education
Commerce
Executive agency funding and structure
Government lending and loan guarantees
Manufacturing
Securities
Small business
Small Business Administration
Social work, volunteer service, charitable organizations
User charges and fees
Business education
Commerce
Executive agency funding and structure
Government lending and loan guarantees
Manufacturing
Securities
Small business
Small Business Administration
Social work, volunteer service, charitable organizations
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/347/all-info |
Text | https://www.congress.gov/115/bills/s347/BILLS-115s347is.pdf |