{ "id": "R41057", "type": "CRS Report", "typeId": "R", "number": "R41057", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "summary": null, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R41057", "source_dir": "crsreports.congress.gov", "type": "CRS Report", "formats": [ { "sha1": "b9bb09c53675805dd04cdb981d6debbb188fd336", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R41057/79", "filename": "files/2022-03-30_R41057_b9bb09c53675805dd04cdb981d6debbb188fd336.pdf" }, { "format": "HTML", "filename": "files/2022-03-30_R41057_b9bb09c53675805dd04cdb981d6debbb188fd336.html" } ], "title": "Small Business Administration Microloan Program", "source": "CRSReports.Congress.gov", "retrieved": "2022-05-01T04:03:33.011668", "date": "2022-03-30", "typeId": "R", "id": "R41057_79_2022-03-30", "active": true }, { "summary": null, "sourceLink": 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"Small Business Administration Microloan Program", "source": "CRSReports.Congress.gov", "retrieved": "2022-05-01T04:03:33.002921", "date": "2020-06-10", "typeId": "R", "id": "R41057_69_2020-06-10", "active": true }, { "source": "EveryCRSReport.com", "id": 624040, "date": "2020-04-29", "retrieved": "2020-05-19T13:58:22.352378", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to nonprofit intermediary lenders to provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. They also provide marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2019, Microloan intermediaries provided 5,533 microloans totaling $81.5 million. The average Microloan was $14,735 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation and preservation, always a congressional interest, has taken on increased importance given the Coronavirus Disease 2019 (COVID-19) pandemic\u2019s adverse impact on the national economy. \nThis report describes the program\u2019s eligibility standards and operating requirements. It also examines arguments presented by the program\u2019s critics and advocates. It then discusses\nP.L. 111-240, the Small Business Jobs Act of 2010, which, among other provisions, increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nP.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50%. \nP.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, which, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.\nP.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which, among other provisions, appropriated $17 billion to pay the principal, interest, and any associated fees that are owed on an existing 7(a), 504/CDC, or Microloan that is in a regular servicing status for a six-month period starting on the next payment due date.\n P.L. 116-139, the Paycheck Protection Program and Health Care Enhancement Act, which, among other provisions, increased the Paycheck Protection Program\u2019s (PPP) authorization limit from $349 billion to $659 billion and required that no less than $30 billion of that amount be set aside for loans issued by \u201ccommunity financial institutions,\u201d including, among others, microloan intermediaries.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41057", "sha1": "e1fffed9e02846a04ccef663ec278b2583a9ee3e", "filename": "files/20200429_R41057_e1fffed9e02846a04ccef663ec278b2583a9ee3e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41057", "sha1": "d01583ddc60ecc69bf0d0fc02f1e4711857a3e15", "filename": "files/20200429_R41057_d01583ddc60ecc69bf0d0fc02f1e4711857a3e15.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 618743, "date": "2020-03-04", "retrieved": "2020-03-06T17:01:48.806818", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2019, Microloan intermediaries provided 5,533 microloans totaling $81.5 million. The average Microloan was $14,735 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41057", "sha1": "e1782d7b1d7cb095e05a69091d8164ab311764d9", "filename": "files/20200304_R41057_e1782d7b1d7cb095e05a69091d8164ab311764d9.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41057", "sha1": "432073c4f13459292c7698a3e2e38f54bf914bcf", "filename": "files/20200304_R41057_432073c4f13459292c7698a3e2e38f54bf914bcf.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 609328, "date": "2019-11-27", "retrieved": "2019-12-13T15:10:29.958299", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2019, Microloan intermediaries provided 5,533 microloans totaling $81.5 million. The average Microloan was $14,735 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41057", "sha1": "d51597ed45ce30d131ff96a696bf91b7f73d7a61", "filename": "files/20191127_R41057_d51597ed45ce30d131ff96a696bf91b7f73d7a61.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41057", "sha1": "a80391dde18dba1fb960d93cf4cc79c18ab2dfe0", "filename": "files/20191127_R41057_a80391dde18dba1fb960d93cf4cc79c18ab2dfe0.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 606392, "date": "2019-10-17", "retrieved": "2019-10-21T22:19:53.369122", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2019, Microloan intermediaries provided 5,533 microloans totaling $81.5 million. The average Microloan was $14,735 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41057", "sha1": "f2428f41a2377c9ea20cacfdb5abc298c18b06b4", "filename": "files/20191017_R41057_f2428f41a2377c9ea20cacfdb5abc298c18b06b4.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41057", "sha1": "59163a18ad79dd85f8728d512f5d702a26ecc5c7", "filename": "files/20191017_R41057_59163a18ad79dd85f8728d512f5d702a26ecc5c7.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 593139, "date": "2019-03-08", "retrieved": "2019-04-17T14:04:32.337777", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2018, Microloan intermediaries provided 5,459 microloans totaling $76.8 million. The average Microloan was $14,071 and had a 7.6% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R41057", "sha1": "fa5c3b61276dea3474e113353543ff358092ea46", "filename": "files/20190308_R41057_fa5c3b61276dea3474e113353543ff358092ea46.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R41057", "sha1": "3d80f808c619ca203be82df4a3ffba529d157a60", "filename": "files/20190308_R41057_3d80f808c619ca203be82df4a3ffba529d157a60.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 588993, "date": "2018-12-19", "retrieved": "2018-12-20T23:07:21.241296", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2018, Microloan intermediaries provided 5,459 microloans totaling $76.8 million. The average Microloan was $14,071 and had a 7.6% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "fd53ea30797b4f63f0515e7669638c79e03ba8f6", "filename": "files/20181219_R41057_fd53ea30797b4f63f0515e7669638c79e03ba8f6.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "8dd4dff617133139b4976e89f563c4657b93c5c7", "filename": "files/20181219_R41057_8dd4dff617133139b4976e89f563c4657b93c5c7.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 583826, "date": "2018-08-15", "retrieved": "2018-08-16T17:01:59.125480", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2017, Microloan intermediaries provided 4,992 microloans totaling $69.3 million. The average Microloan was $13,884 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate). In addition, P.L. 115-232, the John S. McCain National Defense Authorization Act for Fiscal Year 2019, among other provisions, increased the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "7d2adee1d720f881ce0d881682139403e490e000", "filename": "files/20180815_R41057_7d2adee1d720f881ce0d881682139403e490e000.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "83dc0503dc88ce04543f194735f6036d95ff7cd5", "filename": "files/20180815_R41057_83dc0503dc88ce04543f194735f6036d95ff7cd5.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 579767, "date": "2018-03-30", "retrieved": "2018-05-10T10:52:28.761081", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2017, Microloan intermediaries provided 4,992 microloans totaling $69.3 million. The average Microloan was $13,884 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses P.L. 115-141, the Consolidated Appropriations Act, 2018, which, among other provisions, relaxed requirements on Microloan intermediaries that prohibited them from spending more than 25% of their technical assistance grant funds on prospective borrowers and more than 25% of those grant funds on contracts with third parties to provide that technical assistance. The act increased those percentages to 50% (originally in H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate).", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "bfe4359b0eb62dc907b8c5dca4eef52b2b7c0f8b", "filename": "files/20180330_R41057_bfe4359b0eb62dc907b8c5dca4eef52b2b7c0f8b.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "b6275a6209a19199d6dd6f73b03d0532d0732be7", "filename": "files/20180330_R41057_b6275a6209a19199d6dd6f73b03d0532d0732be7.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 577590, "date": "2018-01-12", "retrieved": "2018-01-16T23:08:21.167243", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2017, Microloan intermediaries provided 4,944 microloans totaling $68.5 million. The average Microloan was $13,849 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate. The bills, as introduced, would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million and, among other provisions, eliminate the requirement that intermediaries spend no more than 25% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 25% of those funds on third-party contracts for technical assistance. H.R. 2056 was amended in committee to require intermediaries to spend no more than 50% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 50% of those funds on third-party contracts for technical assistance. The bill, as amended, was favorably reported by the House Committee on Small Business on July 12, 2017, and agreed to by the House on July 24, 2017, by voice vote.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "a045145cbc0d0e66daf62516098b13c7755a73bb", "filename": "files/20180112_R41057_a045145cbc0d0e66daf62516098b13c7755a73bb.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "8122c21415fc2abcc7a0ea52535168377188e48c", "filename": "files/20180112_R41057_8122c21415fc2abcc7a0ea52535168377188e48c.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 463184, "date": "2017-08-09", "retrieved": "2017-08-22T13:29:19.616262", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2016, Microloan intermediaries provided 4,493 microloans totaling $60.8 million. The average Microloan was $13,539 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate. The bills, as introduced, would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million and, among other provisions, eliminate the requirement that intermediaries spend no more than 25% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 25% of those funds on third-party contracts for technical assistance. H.R. 2056 was amended in committee to require intermediaries to spend no more than 50% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 50% of those funds on third-party contracts for technical assistance. The bill, as amended, was favorably reported by the House Committee on Small Business on July 12, 2017, and agreed to by the House on July 24, 2017, by voice vote.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "d0a6b3c1bef01f71f4cc833c40309a65dd9815d9", "filename": "files/20170809_R41057_d0a6b3c1bef01f71f4cc833c40309a65dd9815d9.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "f75382ba5a3adf61ee2ffa99d6d5a736ac0d2454", "filename": "files/20170809_R41057_f75382ba5a3adf61ee2ffa99d6d5a736ac0d2454.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 462142, "date": "2017-06-22", "retrieved": "2017-06-26T15:51:23.825478", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2016, Microloan intermediaries provided 4,493 microloans totaling $60.8 million. The average Microloan was $13,539 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2056, the Microloan Modernization Act of 2017, and S. 526, its companion bill in the Senate. The bills, as introduced, would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million and, among other provisions, eliminate the requirement that intermediaries spend no more than 25% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 25% of those funds on third-party contracts for technical assistance. H.R. 2056 was amended in committee to require intermediaries to spend no more than 50% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 50% of those funds on third-party contracts for technical assistance. The bill, as amended, was favorably reported by the House Committee on Small Business on June 15, 2017.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "1765aa2267d630d6fe1d9280448e79caf845c094", "filename": "files/20170622_R41057_1765aa2267d630d6fe1d9280448e79caf845c094.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "f3e7ecf831f5313a7e0589a2fbbe6e55f3b2a8a8", "filename": "files/20170622_R41057_f3e7ecf831f5313a7e0589a2fbbe6e55f3b2a8a8.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 457440, "date": "2016-12-06", "retrieved": "2016-12-09T19:06:05.264210", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2016, Microloan intermediaries provided 4,493 microloans totaling $60.8 million. The average Microloan was $13,539 and had a 7.5% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2670, the Microloan Modernization Act of 2015, and S. 1857, the companion bill in the Senate. H.R. 2670 was passed by the House on July 13, 2015. S. 1857 was reported by the Senate Committee on Small Business and Entrepreneurship on July 29, 2015. The bills would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million, increase the program\u2019s repayment terms from not more than 6 years to not more than 10 years for loans greater than $10,000, and require the SBA Administrator to establish a rule enabling intermediaries to apply for a waiver to the requirement that no more than 25% of Microloan technical assistance grant funds may be used to provide technical assistance to prospective borrowers. \nIn addition, S. 2850, the Microloan Program Modernization Act of 2016, would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million and, among other provisions, eliminate the requirements that intermediaries spend no more than 25% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 25% of those funds on third-party contracts for technical assistance.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "659607dd931ac5f2e5eafe002b9adcf9a0034de5", "filename": "files/20161206_R41057_659607dd931ac5f2e5eafe002b9adcf9a0034de5.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "6addfd33904e1c367b91532c3053a0da8f9ab75c", "filename": "files/20161206_R41057_6addfd33904e1c367b91532c3053a0da8f9ab75c.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 452677, "date": "2016-05-19", "retrieved": "2016-11-28T22:12:13.261180", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2015, Microloan intermediaries provided 3,682 microloans totaling $51.9 million. The average Microloan was $14,103 and had a 7.6% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2670, the Microloan Modernization Act of 2015, and S. 1857, the companion bill in the Senate. H.R. 2670 was passed by the House on July 13, 2015. S. 1857 was reported by the Senate Committee on Small Business and Entrepreneurship on July 29, 2015. The bills would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million, increase the program\u2019s repayment terms from not more than 6 years to not more than 10 years for loans greater than $10,000, and require the SBA Administrator to establish a rule enabling intermediaries to apply for a waiver to the requirement that no more than 25% of Microloan technical assistance grant funds may be used to provide technical assistance to prospective borrowers. \nIn addition, S. 2850, the Microloan Program Modernization Act of 2016, would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million and, among other provisions, eliminate the requirements that intermediaries spend no more than 25% of Microloan technical assistance grant funds on technical assistance to prospective borrowers and no more than 25% of those funds on third-party contracts for technical assistance.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "9c03b5f56684d55720602d510fabe9857b05943a", "filename": "files/20160519_R41057_9c03b5f56684d55720602d510fabe9857b05943a.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "375981f69b47393c8dd9e712f8a8e045e1b15d2f", "filename": "files/20160519_R41057_375981f69b47393c8dd9e712f8a8e045e1b15d2f.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4832, "name": "Small Business" } ] }, { "source": "EveryCRSReport.com", "id": 450006, "date": "2016-02-19", "retrieved": "2016-04-06T17:07:04.818339", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Authorized in 1991 as a five-year demonstration project, it became operational in 1992, and was made permanent, subject to reauthorization, in 1997.\nThe Microloan program is designed to assist women, low-income, veteran, and minority entrepreneurs and small business owners by providing them small-scale loans for working capital or the acquisition of materials, supplies, or equipment. In FY2015, Microloan intermediaries provided 3,682 microloans totaling $51.9 million. The average Microloan was $14,103 and had a 7.6% interest rate.\nCritics of the SBA\u2019s Microloan program argue that it is expensive relative to alternative programs, duplicative of the SBA\u2019s 7(a) loan guaranty program, and subject to administrative shortfalls. The program\u2019s advocates argue that it assists many who otherwise would not be served by the private sector and is an important source of capital and training assistance for low-income, women, and minority business owners.\nCongressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation, always a congressional interest, has taken on increased importance given continuing concerns about job growth during the current economic recovery. \nThis report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million. \nIt also discusses H.R. 2670, the Microloan Modernization Act of 2015, and its companion bill in the Senate (S. 1857). H.R. 2670 was passed by the House on July 13, 2015. S. 1857 was reported by the Senate Committee on Small Business and Entrepreneurship on July 29, 2015. The bills would increase the Microloan program\u2019s aggregate loan limit for intermediaries after their first year of participation in the program from $5 million to $6 million, increase the program\u2019s repayment terms from not more than 6 years to not more than 10 years for loans greater than $10,000, and require the SBA Administrator to establish a rule enabling intermediaries to apply for a waiver to the requirement that no more than 25% of Microloan technical assistance grant funds may be used to provide technical assistance to prospective borrowers.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41057", "sha1": "e3f2f270a0940ae7a4c8dfc4e239d0ac6326257a", "filename": "files/20160219_R41057_e3f2f270a0940ae7a4c8dfc4e239d0ac6326257a.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41057", "sha1": "1ac4b34e06fb8314281e320154ab1779c6b9ee84", "filename": "files/20160219_R41057_1ac4b34e06fb8314281e320154ab1779c6b9ee84.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc818069/", "id": "R41057_2015Aug04", "date": "2015-08-04", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration Microloan Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150804_R41057_bd59d55efc7567d76f079df263dd6336c07969ba.pdf" }, { "format": "HTML", "filename": "files/20150804_R41057_bd59d55efc7567d76f079df263dd6336c07969ba.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc821462/", "id": "R41057_2015May28", "date": "2015-05-28", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration Microloan Program", "summary": "The Small Business Administration\u2019s (SBA\u2019s) Microloan program provides direct loans to qualified nonprofit intermediary lenders who, in turn, provide \u201cmicroloans\u201d of up to $50,000 to small businesses and nonprofit child care centers. It also provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. This report opens with a discussion of the rationale provided for having a Microloan program, describes the program\u2019s eligibility standards and operating requirements for lenders and borrowers, and examines the arguments presented by the program\u2019s critics and advocates. It then discusses P.L. 111-240, the Small Business Jobs Act of 2010, which increased the Microloan program\u2019s loan limit for borrowers from $35,000 to $50,000, and the aggregate loan limit for intermediaries after their first year of participation in the program from $3.5 million to $5 million.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150528_R41057_68d5bd4ad009328726230141d0662986688f2ff9.pdf" }, { "format": "HTML", "filename": "files/20150528_R41057_68d5bd4ad009328726230141d0662986688f2ff9.html" } ], "topics": [ { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Loans", "name": "Loans" }, { "source": "LIV", "id": "Small business", "name": "Small business" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc505568/", "id": "R41057_2015Mar20", "date": "2015-03-20", "retrieved": "2015-05-29T05:37:21", "title": "Small Business Administration Microloan Program", "summary": "This report describes the Microloan program's eligibility standards and operating requirements for lenders and borrowers and examines the arguments presented by the program's critics and advocates. It also examines changes to the program authorized by P.L. 111-240, the Small Business Jobs Act of 2010.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20150320_R41057_2f1d12a322591d75169257efd3af650b3f0d55dd.pdf" }, { "format": "HTML", "filename": "files/20150320_R41057_2f1d12a322591d75169257efd3af650b3f0d55dd.html" } ], "topics": [ { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Loans", "name": "Loans" }, { "source": "LIV", "id": "Small business", "name": "Small business" }, { "source": "KWD", "id": "Microloan", "name": "Microloan" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc815531/", "id": "R41057_2014Sep04", "date": "2014-09-04", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration Microloan Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140904_R41057_2c54d72504db1dee44e258a09bb4f0b4715ece36.pdf" }, { "format": "HTML", "filename": "files/20140904_R41057_2c54d72504db1dee44e258a09bb4f0b4715ece36.html" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc809029/", "id": "R41057_2013Feb12", "date": "2013-02-12", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration Microloan Program", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20130212_R41057_9b1040d5a70c4c3fbfa3911e6a417a7748e9f4ce.pdf" } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc822590/", "id": "R41057_2011Aug09", "date": "2011-08-09", "retrieved": "2016-03-19T13:57:26", "title": "Small Business Administration Microloan Program", "summary": "This report describes the Microloan program's eligibility standards and operating requirements for lenders and borrowers and examines the arguments presented by the program's critics and advocates. It also examines changes to the program authorized by P.L. 111-240, the Small Business Jobs Act of 2010.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110809_R41057_68d99ea79284b9c4086124ddcb19636204dafbe3.pdf" }, { "format": "HTML", "filename": "files/20110809_R41057_68d99ea79284b9c4086124ddcb19636204dafbe3.html" } ], "topics": [ { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Loans", "name": "Loans" }, { "source": "LIV", "id": "Small business", "name": "Small business" } ] } ], "topics": [ "American Law", "Economic Policy", "National Defense" ] }