Section 1 Short title
This Act may be cited as the “Protecting Access to Credit for Small Businesses Act”.
Protecting Access to Credit for Small Businesses Act
A BILL
To prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes.
Sec. 2 Prohibition on direct 7(a) loans
In general— Notwithstanding any provision of subsection (a) of section 7 of the Small Business Act (15 U.S.C. 636(a)), the Administrator of the Small Business Administration may not directly make a loan pursuant to such subsection.
Existing loans— The Administrator of the Small Business Administration shall service a direct loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) if such loan was made before the date of enactment of this Act.