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S. 416

BillFederalSenateIn Committee
Small Business Intermediary Lending Pilot Program Act of 2005
About This Bill
Committee
Latest Action · February 17, 2005
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Congress
109th (2005–2007)
Introduced
February 17, 2005
Cosponsors (0)
None
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Summary

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Small Business Intermediary Lending Pilot Program Act of 2005 - Establishes a three-year small business intermediary lending pilot program under which the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending intermediaries for the purpose of making fixed interest rate and mid-size loans ($35,000 to $200,000) to startup, newly-established, and growing small businesses. Authorizes the SBA, under the program, to make one percent, 20-year loans of up to $1 million, on a competitive basis, to up to 20 nonprofit lending intermediaries. Requires geographic diversity and representation of urban and rural communities under the program.

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