,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fbia ,,in ,,the ,,house ,,of ,,representatives ,march #ai1 #bjbj,mr4 ,kim introduced the following bill2 which was referred to the ,committee on ,small ,business ,a ,,bill ,to amend the microloan program of the ,small ,business ,adminstration in response to ,,covid-#ai1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,microloan ,emergency ,assistance ,act of #bjbj4 #b4 ,recovery assistance for microbusinesses 7a7 ,purpose ,the purpose of this section is to allow lenders to deploy more capital1 give borrowers more time to repay1 increase rural lending1 and cut technical assistance red tape4 7b7 ,loans to intermediaries 7#a7 ,in general ,section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77 is amended-- 7,a7 in paragraph 7#c77;,c7-- 7i7 by striking and #f1jjj1jjj and inserting #aj1jjj1jjj1 in the aggregate12 and 7ii7 by inserting before the period at the end the following3 1 and #d1ejj1jjj in any of those remaining years2 7,b7 in paragraph 7#d7-- 7i7 in subparagraph 7,a71 by striking subparagraph 7,c7 each place that term appears and inserting subparagraphs 7,c7 and 7,g72 7ii7 in subparagraph 7,c71 by amending clause 7i7 to read as follows3 7i7 ,in general ,in addition to grants made under subparagraph 7,a7 or 7,g71 each intermediary shall be eligible to receive a grant equal to #e percent of the total outstanding balance of loans made to the intermediary under this subsection if-- 7,i7 the intermediary provides not less than #be percent of its loans to small business concerns located in or owned by one or more residents of an economically distressed area2 or 7,,ii7 the intermediary has a portfolio of loans made under this subsection-- 7aa7 that averages not more than #aj1jjj during the period of the intermediary's participation in the program2 or 7bb7 of which not less than #be percent is serving rural areas during the period of the intermediary's participation in the program4 2 and 7iii7 by adding at the end the following3 7,g7 ,grant amounts based on appropriations ,in any fiscal year in which the amount appropriated to make grants under subparagraph 7,a7 is sufficient to provide to each intermediary that receives a loan under paragraph 7#a77;,b77i7 a grant of not less than #be percent of the total outstanding balance of loans made to the intermediary under this subsection1 the ,administration shall make a grant under subparagraph 7,a7 to each intermediary of not less than #be percent and not more than #cj percent of that total outstanding balance for the intermediary4 2 and 7,c7 by striking paragraph 7#g7 and inserting the following3 7#g7 ,program funding for microloans ,under the program authorized by this subsection1 the ,administration may fund1 on a competitive basis1 not more than #cjj intermediaries4 4 7#b7 ,amendment in #bjba ,effective on ,october #a1 #bjba1 section #g7m77#c77;,c7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#c77;,c77 is amended-- 7,a7 by striking #aj1jjj1jjj and by inserting #g1jjj1jjj2 and 7,b7 by striking #d1ejj1jjj and inserting #c1jjj1jjj4 7c7 ,temporary waiver of technical assistance grants matching requirements and flexibility on pre- and post-,loan assistance ,during the period beginning on the date of enactment of this ,act and ending on ,september #cj1 #bjba1 the ,administration shall waive-- 7#a7 the requirement to contribute non-,federal funds under section #g7m77#d77;,b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#d77;,b772 and 7#b7 the limitation on amounts allowed to be expended to provide information and technical assistance under clause 7i7 of section #g7m77#d77;,e7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#d77;,e77 and enter into third-party contracts to provide technical assistance under clause 7ii7 of such section #g7m77#d77;,e74 7d7 ,temporary duration of loans to borrowers 7#a7 ,in general ,during the period beginning on the date of enactment of this ,act and ending on ,september #cj1 #bjba1 the duration of a loan made by an eligible intermediary under section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77-- 7,a7 to an existing borrower may be extended to not more than #h years2 and 7,b7 to a new borrower may be not more than #h years4 7#b7 ,reversion ,on and after ,october #a1 #bjba1 the duration of a loan made by an eligible intermediary to a borrower under section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77 shall be #g years or such other amount established by the ,administrator4 7e7 ,program levels ,section #bj of the ,small ,business ,act 7#ae ,u4,s4,c4 #fca note7 is amended by adding at the end the following3 7h7 ,microloan program ,for each of fiscal years #bjba through #bjbe1 the ,administration is authorized to make-- 7#a7 #hj1jjj1jjj in technical assistance grants1 as provided in section #g7m72 and 7#b7 #aaj1jjj1jjj in direct loans1 as provided in section #g7m74 4 7f7 ,authorization of appropriations ,in addition to amounts provided under the ,consolidated ,appropriations ,act1 #bjbj 7,public ,law #aaf-ic7 for the program established under section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m771 there is authorized to be appropriated for fiscal year #bjbj1 to remain available until expended-- 7#a7 #ej1jjj1jjj to provide technical assistance grants under such section #g7m72 and 7#b7 #g1jjj1jjj to provide direct loans under such section #g7m74