- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Small BusinessIntroducedJune 20th, 2013
- house Committees
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SBA Loan Paperwork Reduction Act of 2013
To amend the Small Business Act to make permanent the Small Loan Advantage program, and for other purposes.
SBA Loan Paperwork Reduction Act of 2013 - Directs the Administrator of the Small Business Administration (SBA) to carry out a Small Loan Advantage Program in the same manner as, and as a replacement for, the SBA Small Loan Advantage loan initiative. (Under the loan initiative, SBA lenders make partially guaranteed, lower-dollar small business loans which often benefit businesses in underserved areas or markets.) Makes pilot program loan guarantee percentage limits inapplicable to such Program. Authorizes the Administrator to increase the Program's maximum loan amount, reduce the Program's fees, and further streamline the Program's loan approval process.