#aafth ,,congress  #b;d ,session  ,h4   
,r4 #fjgh  ,,an ,,act  ,to amend the    
,small ,business ,act to increase       
transparency and to enhance the use of  
microloans in rural areas1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,microloan          
,transparency and ,accountability ,act  
of #bjbj4  #b4 ,assistance for          
intermediaries serving rural areas      
,section #g7m7 of the ,small ,business  
,act 7#ae ,u4,s4,c4 #fcf7m77 is         
amended--  7#a7 by amending paragraph   
7#d77;,c77i7 to read as follows3  7i7   
,each intermediate shall be eligible to 
receive a grant equal to #e percent of  
the total outstanding balance of loans  
made to the intermediary under this     
subsection1 in addition to grants made  
under subparagraph 7,a71 if the         
intermediary has either--  7,i7 a       
portfolio of loans made under this      
subsection that averages not more than  
#aj1jjj during the period of the        
intermediary's participation in the     

program2  7,,ii7 a portfolio of loans   
made under this subsection of which not 
less than #be percent are made to small 
business concerns located in or owned by
 one or more residents of an            
economically distressed area2 or        
7,,iii7 a portfolio of loans made under 
this subsection of which not less than  
#be percent is serving rural areas      
during the period of the intermediary's 
participation in the program4  2 and    
7#b7 in paragraph 7#aa7--  7,a7 in      
subparagraph 7,c77ii71 by striking all  
after the semicolon and inserting and2  
and  7,b7 by striking all after         
subparagraph 7,c71 and inserting the    
following3  7,d7 the term economically  
distressed area1 as used in paragraph   
7#d71 means a county or equivalent      
division of local government of a ,state
 in which the small business concern is 
located1 in which1 according to the most
 recent data available from the ,bureau 
of the ,census1 ,department of          
,commerce1 not less than #dj percent of 

residents have an annual income that is 
at or below the poverty level4  4  #c4  
,portfolio risk analysis of microloans  
,section #g7m77#aj7 of the ,small       
,business ,act 7#ae ,u4,s4,c4           
#fcf7m77#aj77 is amended--  7#a7 by     
redesignating subparagraphs 7,a7 through
 7,f7 as clauses 7i7 through 7vi71      
respectively1 and adjusting the margins 
accordingly2  7#b7 by amending clause   
7iv71 as so redesignated1 to read as    
follows3  7vi7 the number1 amount1 and  
percentage of microloans made by        
intermediaries to small business        
concerns-- 7,i7 that went into default  
in the previous year2 and  7,,ii7 that  
were charged off in the previous year by
 such intermediaries2  2  7#c7 in clause
 7vi71 as so redesignated1 by striking  
and at the end2  7#d7 by redesignating  
subparagraph 7,g7 as clause 7xviii71 and
 adjusting the margin accordingly2  7#e7
 by striking ,on ,november #a1 #aiie1   
and all that follows through the        
following3 and inserting the following3 

7,a7 ,in general ,beginning on ,february
 #a1 #bjba1 and annually thereafter1 the
 ,administrator shall submit to the     
,committee on ,small ,business and      
,entrepreneurship of the ,senate and the
 ,committee on ,small ,business of the  
,house of ,representatives1 and make    
available to the public on the website  
of the ,administration1 a report on the 
effectiveness of the microloan program  
during the fiscal year preceding the    
date of the report4 ,such report shall  
include--  2  7#f7 in subparagraph 7,a71
 as so designated1 by inserting after   
clause 7vi7 the following new clauses3  
7vii7 the number and type of enforcement
 actions taken by the ,administrator    
against noncompliant intermediaries2    
7viii7 an analysis of compliance by     
intermediaries with the credit          
availability requirements of paragraph  
7#c77;,e7 for loans in an amount greater
 than #bj1jjj2  7ix7 the extent to which
 microloans are provided to small       
business concerns in rural areas2  7x7  

the number of underserved borrowers1 as 
defined by the ,administration1         
participating in the microloan program2 
7xi7 the average rate of interest for   
each microloan2  7xii7 the average      
amount of fees charged for each         
microloan2  7xiii7 the average size of  
each microloan1 including-- 7,i7 the    
number of loans made in an amount       
greater than #bj1jjj2 and  7,,ii7 the   
average size and charge-off rate of such
 loans2  7xiv7 the subsidy cost to the  
,administration2  7xv7 the number and   
percentage of microloans that were made 
to refinance other loans2  7xvi7 the    
number and percentage of microloans made
 to new program participants and the    
number and percentage of microloans made
 to previous program participants2      
7xvii7 the average amount of technical  
assistance grant monies spent on each   
loan2 and  2 and  7#g7 by adding at the 
end the following3  7,b7 ,privacy ,each 
report submitted under subparagraph 7,a7
 shall not contain any personally       

identifiable information of any         
borrower4  4  ,passed the ,house of     
,representatives ,september #ad1        
#bjbj4;,clerk4