,i #aad? ,,congress #b;d ,session ,h4 ,r4 #eaac ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,april #bh1 #bjaf ,mrs4 ,c>olyn ,b4 ,maloney ( ,new ,york 7= h]self1 ,ms4 ,velzquez1 ,ms4 ,hahn1 ,mr4 ,v>gas1 ,mr4 ,rangel1 ,ms4 ,moore1 ,mr4 ,johnson ( ,georgia1 ,ms4 ,cl>ke ( ,new ,york1 ,mr4 ,h9ojosa1 ,ms4 ,norton1 ,mr4 ,honda1 & ,mr4 ,ri*mond7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to enc\rage initiatives = f9ancial products & s]vices t are appropriate & accessible = millions ( ,am]ican small bus9esses t d n h access to ! f9ancial ma9/ream4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,inve/+ 9 ,am]ica's ,small ,bus9esses ,act ( #bjaf4 #b4 ,f9d+s ,! ,congress f9ds ! foll[+3 7#a7 ,small bus9esses 9 und]s]v$ areas h = g5]ations be5 unable to access af=dable cr$it4 7#b7 ,a #bjac report commission$ by ! ,u4,s4 ,small ,bus9ess ,adm9i/ration %[s ! major con/ra9t limit+ ! gr[?1 expansion1 & weal? creation ( small firms--especially wom5- & m9ority-own$ bus9esses--is inadequate capital4 7#c7 ,small bus9esses revitalize communities by creat+ jobs1 & also contribute to ! local tax base1 :i* helps f9ance inve/m5ts 9 s*ools1 hospitals1 infra/ructure1 & public safety4 7#d7 ,a #bjae report f ! ,c>sey ,s*ool ( ,public ,policy at ! ,univ]sity ( ,new ,hamp%ire f\nd t #gi p]c5t ( ,,cdfi loan volume w5t to borr[]s f und]s]v$ populations4 7#e7 ,dur+ ! f9ancial crisis1 ,,cdfi loan funds exp&$ _! activity to meet increas$ dem& f borr[]s t c\ld n access traditional l5d+4 ,f #bjjf to #bjji1 ! m$ian fund deploym5t ratio grew #c4a p]c5t annually4 7#f7 ,aft] ,sup]/orm ,s&y1 ,c,d,f,is laun*$ disa/] recov]y loan programs & rea*$ out to affect$ bus9esses & organizations to provide cr$it to help groc]y /ores & social s]vice organizations re-op5 to help communities 9 ne$4 7#g7 ,a #bjad report by ! ,d>d9 ,s*ool ( ,bus9ess at ! ,univ]sity ( ,virg9ia f\nd t despite s]v+ pr$om9ately l[-income m>kets1 ,,cdfi banks & cr$it unions _h virtually ! same level ( p]=mance z ma9/ream f9ancial in/itutions4 #c4 ,grants to e/abli% loan-loss res]ve funds = small bus9ess l5d+ 7a7 ,9 g5]al ,! ,community ,developm5t ,bank+ & ,f9ancial ,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4 #dgja et seq47 is am5d$ by add+ at ! end ! foll[+3 #abc4 ,grants to e/abli% loan-loss res]ve funds = small bus9ess l5d+ 7a7 ,purposes ,! purposes ( ?is section are-- 7#a7 to make f9ancial assi/ance available f ! ,fund 9 ord] to help community developm5t f9ancial in/itutions defray ! co/s ( op]at+ small bus9ess loan programs1 by provid+ ! am\nts necess>y = su* in/itutions to e/abli% _! own loan loss res]ve funds to mitigate "s ( ! losses on su* small bus9ess loan programs2 7#b7 to enc\rage community developm5t f9ancial in/itutions to e/abli% & ma9ta9 small bus9ess loan programs t w\ld help provide borr[]s access to ma9/ream f9ancial in/itutions & combat high co/ small bus9ess l5d+2 & 7#c7 to enc\rage community developm5t f9ancial in/itutions to exp& ! developm5t s]vices !y (f] & to s]ve new inve/m5t areas & new t>get$ populations4 7b7 ,grants 7#a7 ,loan-loss res]ve fund grants 7,a7 ,9 g5]al ,! ,fund %all make grants to community developm5t f9ancial in/itutions to enable su* in/itutions to e/abli% a loan-loss res]ve fund 9 ord] to defray ! co/s ( a small bus9ess loan program e/abli%$ or ma9ta9$ by su* in/itution4 7,b7 ,application ,a community developm5t f9ancial in/itution t wi%es to receive a grant "u ?is p>agraph %all submit an application to ! ,adm9i/rator 9 su* =m & mann] & conta9+ su* in=mation z ! ,adm9i/rator may require4 7,c7 ,mat*+ requirem5t ,a community developm5t f9ancial in/itution %all provide non-,f$]al mat*+ funds 9 an am\nt equal to #ej p]c5t ( ! am\nt ( any grant receiv$ "u ?is p>agraph4 7,d7 ,use ( funds ,any grant am\nts receiv$ by a community developm5t f9ancial in/itution "u ?is p>agraph-- 7i7 may n be us$ by su* in/itution to provide direct loans to small bus9esses2 7ii7 may be us$ by su* in/itution to help recapture a portion or all ( a default$ loan made "u ! small bus9ess loan program ( su* in/itution on or aft] ! date ( ! enactm5t ( ?is section2 & 7iii7 may be us$ to designate & utilize a fiscal ag5t = s]vices normally provid$ by su* an ag5t4 7#b7 ,te*nical assi/ance grants 7,a7 ,9 g5]al ,! ,fund %all make te*nical assi/ance grants to community developm5t f9ancial in/itutions to create1 support1 or ma9ta9 a small bus9ess loan program4 ,any grant am\nts receiv$ "u ?is p>agraph may be us$ =-- 7i7 te*nology1 /aff support1 /aff capacity build+1 & o!r co/s associat$ ) e/abli%+1 support+1 or ma9ta9+ a small bus9ess loan program2 & 7ii7 e/abli%+1 support+1 or ma9ta9+ te*nical assi/ance programs = borr[]s4 7,b7 ,application ,a community developm5t f9ancial in/itution t wi%es to receive a grant "u ?is p>agraph %all submit an application to ! ,adm9i/rator 9 su* =m & mann] & conta9+ su* in=mation z ! ,adm9i/rator may require4 7c7 ,reports ,= ea* fiscal ye> = :i* grants are made "u ?is section1 ! ,adm9i/rator %all submit a report to ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate conta9+ a description ( ! activities fund$ & am\nts di/ribut$ "u ?is section = su* fiscal ye>1 z well z measurable results ( su* actions4 7d7 ,au?orization ( appropriations 7#a7 ,9 g5]al ,!re are au?oriz$ to be appropriat$ to ! ,fund #be1jjj1jjj = ea* ( fiscal ye>s #bjag to #bjbb to c>ry out ?is section4 7#b7 ,adm9i/rative co/s ,!re are au?oriz$ to be appropriat$ to ! ,fund #b1jjj1jjj = ea* ( fiscal ye>s #bjag to #bjbb = ! adm9i/rative co/s ( c>ry+ out ?is section4 7e7 ,def9itions ,= purposes ( ?is section3 7#a7 ,small bus9ess ,! t]m small bus9ess has ! mean+ giv5 ! t]m small bus9ess conc]n "u section #c7;a7 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fcb7;a774 7#b7 ,small bus9ess loan program ,! t]m small bus9ess loan program means a loan program :]e9 a community developm5t f9ancial in/itution (f]s loans to small bus9esses t-- 7,a7 are made 9 am\nts n exce$+ #ej1jjj2 7,b7 h no pre-paym5t p5alty2 & 7,c7 meet any o!r af=dability requirem5ts z may be e/abli%$ by ! ,adm9i/rator4 4 7b7 ,con=m+ am5dm5t ,! table ( cont5ts = ! ,riegle ,community ,developm5t & ,regulatory ,improvem5t ,act ( #aiid is am5d$ by ins]t+ aft] ! item relat+ to section #aba ! foll[+3 ,sec4 #abb4 ,grants to e/abli% loan-loss res]ve funds4 ,sec4 #abc4 ,grants to e/abli% loan-loss res]ve funds = small bus9ess l5d+4 4