- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedDecember 16th, 2009
- house Committees
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Main Street Survival Act
To require the Secretary of the Treasury to establish a revolving loan fund program for certain businesses to facilitate increased lending in the United States.
Main Street Survival Act - Expresses the sense of Congress that the President should encourage financial institutions that have received federal financial support to maintain historic levels of lending to small and medium-sized businesses. Instructs the Secretary of the Treasury to establish a three-year Main Street Revolving Loan Fund Program to provide temporary loans to businesses with less than 1,000 full-time equivalent employees. Establishes in the Treasury a revolving loan fund to implement the Program. Permits a business to use a Main Street revolving loan to finance the cost of certain operations, but prohibits the use of it to expand its operations significantly. Limits the term of such a loan to nine months, and the maximum total amount of loans to a particular business in any fiscal year to $1 million.