Section 1 Short title
This Act may be cited as the “SBA Intermediary Lending Program Act of 2014”.
SBA Intermediary Lending Program Act of 2014
A BILL
To modify the small business intermediary lending program.
Sec. 2 Small business intermediary lending program
Section 7(l) of the Small Business Act (15 U.S.C. 636(l)) is amended—
in the subsection heading, by striking “Pilot”;
in paragraph (1)(B), by striking “pilot”;
in paragraph (2)—
by striking “3-year ”; and
by striking “pilot”;
in paragraph (4)—
by striking subparagraph (B) and inserting the following:
“(B) Loan limits
“(i) In general—No single loan to an eligible intermediary under this subsection may exceed $1,000,000.
“(ii) Total amount—The total amount outstanding and committed to an eligible intermediary by the Administrator under the Program may not exceed $5,000,000.”
by striking subparagraph (G) and inserting the following:
“(G) Maximum amounts—The Administrator may make loans under the Program—
“(i) during each of fiscal years 2015, 2016, and 2017, in a total amount of not more than $20,000,000; and
“(ii) during fiscal year 2018 and each fiscal year thereafter, using such amounts as are made available for the Program.”
by striking paragraph (6).