Small Business Administration Microloan Program

Author / Creator

Library of Congress. Congressional Research Service

Available as

Online

Summary

Presents arguments for the SBA microloan program, which provides direct loans to qualified non-profit intermediary lenders who, in turn, provide "microloans" of up to $35,000 to small business owne...

Presents arguments for the SBA microloan program, which provides direct loans to qualified non-profit intermediary lenders who, in turn, provide "microloans" of up to $35,000 to small business owners, entrepreneurs, and non-profit child care centers; and provides marketing, management, and technical assistance to microloan borrowers and potential borrowers. Describes microloan program operating standards and requirements for lenders and borrowers, and examines arguments presented by its critics and advocates. Examines H.R. 3854, the Small Business Financing and Investment Act of 2009; S. 2869, the Small Business Job Creation and Access to Capital Act of 2009; and P.L. 111-240, the Small Business Jobs Act; all to authorize changes to the SBA microloan program in an attempt to enhance job creation by increasing availability of credit to small businesses.

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