Section 1 Short title
This Act may be cited as the “Expanding Opportunities to Underserved Businesses Act”.
Expanding Opportunities to Underserved Businesses Act
A BILL
To amend the Small Business Act to increase the maximum loan amount for loans under the microloan program.
Sec. 2 Microloan amount maximum
Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—
in paragraph (1)(B)(iii), by striking “$50,000” and inserting “$75,000”;
in paragraph (3)(E), by striking “$50,000” each place it appears and inserting “$75,000”; and
in paragraph (11)(B), by striking “$50,000” and inserting “$75,000”.