Section 1 Short title
This Act may be cited as the “Supporting Entrepreneurs and Economic Development Act” or the “SEED Act”.
Supporting Entrepreneurs and Economic Development Act
A BILL
To amend the Small Business Act to require lenders to refer certain borrowers to a small business development center, and for other purposes.
Sec. 2 Small business development center referrals
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following new paragraph:
“(36) Small business development center referrals—If a lender determines that a borrower is not eligible for a loan under this subsection, such lender shall refer the borrower to a small business development center. Such referral shall include—
“(A) the address, phone number, and website (if available) of such center; and
“(B) a description of the services offered by such center.”