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H.R. 5029: Small Business Lending Assistance Act of 2016

Title: Small Business Lending Assistance Act of 2016

Introduced: Apr 21, 2016 (114th Congress)

Sponsor: Rep. Pete Aguilar [D-CA31]

Status: Referred to Committee - Referred to the House Committee on Small Business.

Summary: Small Business Lending Assistance Act of 2016 This bill amends the Small Business Act with respect to guarantee fees for small business loans. The Small Business Administration (SBA) shall have discretion not to collect a guarantee fee for a loan repayable in one year or less. The SBA may not, however, collect a guarantee fee in connection with a loan repayable in one year or less if it is made to a borrower that resides in a county with an annual unemployment rate for the preceding calendar year of at least one percentage point greater than the national annual unemployment rate for that year.

Votes

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