Section 1 Short title
This Act may be cited as the “Small Business Opportunity Acceleration Act of 2013”.
Small Business Opportunity Acceleration Act of 2013
A BILL
To amend subsection (a) of section 7 of the Small Business Act to eliminate guarantee fees for loans guaranteed under that subsection where the total loan amount is not more than $150,000.
Sec. 2 Elimination of guarantee fees for loans with total loan amounts not more than $150,000
Section 7(a)(18)(A) of the Small Business Act is amended—
in subparagraph (A)—
by striking “With respect” and inserting “Except as otherwise provided in this paragraph, with respect”; and
by striking clause (i);
by striking subparagraph (B); and
by adding at the end the following:
“(C) No guarantee fees for certain loans—No guarantee fee shall be collected, payable, or charged under this paragraph if the total loan amount is not more than $150,000.”