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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Small Business
    IntroducedJune 20th, 2013

Bill Details

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Title

Small Business Opportunity Acceleration Act of 2013

Official Title

To amend subsection (a) of section 7 of the Small Business Act to eliminate guarantee fees for loans guaranteed under that subsection where the total loan amount is not more than $150,000.

Summary

Small Business Opportunity Acceleration Act of 2013 - Amends the Small Business Act to eliminate loan guarantee fees for certain small business loans that total $150,000 or less. (Currently, the Small Business Administration [SBA] is required to collect a guarantee fee, which is payable by the participating lender, and may be charged to the borrower, of up to 2% of the deferred participation share of a such a total loan amount that is $150,000 or less.)

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