,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #hbaa  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #aa1        
#bjbj,ms4 ,craig 7= h]self & ,mr4       
,*abot7 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,small        
,bus9ess  ,a ,,bill  ,to am5d ! ,small  
,bus9ess ,inve/m5t ,act ( #aieh to      
improve ! loan gu>anty program1 enhance 
! ability ( small manufactur]s to access
 af=dable capital1 & = o!r purposes4    
#a4 ,%ort title ,?is ,act may be cit$ z 
! #ejd ,mod]nization & ,small           
,manufactur] ,enhancem5t ,act ( #bjbj4  
#b4 ,additions to policy goals = !      
developm5t company program ,section     
#eja7;d77#c7 ( ! ,small ,bus9ess        
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fie7;d77#c77 is am5d$-- 7#a7 by        
r$esignat+ subp>agraphs 7,a7 ?r\gh 7,l7 
z subp>agraphs 7,b7 ?r\gh 7,m71         
respectively2  7#b7 by ins]t+ be=e      
subp>agraph 7,b7 7z s r$esignat$7 !     
foll[+3  7,a7 work=ce developm5t ?r\gh  
"w-bas$ or "w-integrat$ tra9+1 :i* %all 

be satisfi$ by demon/rat+ t a small     
bus9ess conc]n t is a subject ( !       
project has-- 7i7 a docum5t$ 9-h\se     
tra9+ program1 ! duration ( :i* is n    
%ort] ?an #ab weeks2 or  7ii7 ent]$ into
 a contract ) an entity-- 7,i7 to       
provide tra9$ applicants = any op5      
position ( employm5t at ! small bus9ess 
conc]n2 &  7,,ii7 t ensures t any       
applicant provid$ to ! small bus9ess    
conc]n "u subclause 7,i7 has und]gone n 
few] ?an #ab weeks ( tra9+ t is relevant
 to ! op5 position describ$ 9 t         
subclause1  2  7#c7 by am5d+ subp>agraph
 7,d7 7z s r$esignat$7 to read z foll[s3
  7,d7 expansion ( m9ority-own$1        
employee-own$1 or wom5-own$ bus9ess     
developm5t1  2  7#d7 9 subp>agraph 7,l7 
7z s r$esignat$71 by /rik+ produc]s1 or 
& ins]t+ produc]s12  7#e7 9 subp>agraph 
7,m7 7z s r$esignat$71 by /rik+ ! p]iod 
at ! end & ins]t+ a comma2  7#f7 by     
ins]t+ aft] subp>agraph 7,m7 ! foll[+   
new subp>agraphs3  7,n7 enhanc$ ability 
= small bus9ess conc]ns to r$uce co/s by

 us+ en]gy effici5t products & g5]at+   
r5ewable en]gy1 or  7,o7 aid revitaliz+ 
( any area = :i* a disa/] has be5 decl>$
 or det]m9$ "u subp>agraph 7,a71 7,b71  
7,c71 or 7,e7 ( section #g7;b77#b7 ( !  
,small ,bus9ess ,act4  2 &  7#g7 9 !    
flu% text foll[+ subp>agraph 7,o71 z    
add$ by p>agraph 7#f71 by /rik+         
subp>agraphs 7,j7 & 7,k7 & ins]t+       
subp>agraphs 7,k7 & 7,l74  #c4 ,increase
 9 loan am\nts = manufactur+ loans      
,section #ejb ( ! ,small ,bus9ess       
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fif7 is am5d$-- 7#a7 9 ! matt] prec$+  
p>agraph 7#a71 by /rik+ ,! ,adm9i/ration
 & ins]t+ ! foll[+3  7a7 ,9 g5]al ,!    
,adm9i/ration  2 &  7#b7 9 subsection   
7a71 z s designat$-- 7,a7 9 p>agraph    
7#b77;,a7-- 7i7 9 ! matt] prec$+ clause 
7i71 by /rik+ section & ins]t+          
subsection2 &  7ii7 9 clause 7iii71 by  
/rik+ #e1ejj1jjj & ins]t+ #f1ejj1jjj2   
7,b7 9 p>agraph 7#c77;,a71 by /rik+ ?is 
section & ins]t+ ?is subsection2 &  7,c7
 9 p>agraph 7#e71 by /rik+ ?is section &

 ins]t+ ?is subsection4  #d4            
,improvem5ts to #ejd loan clos+ proc$ure
 ,title ,v ( ! ,small ,bus9ess ,inve/m5t
 ,act ( #aieh 7#ae ,u4,s4,c4 #fie et    
seq47 is am5d$-- 7#a7 9 section #ejb1 z 
am5d$ by section #c1 by add+ at ! end ! 
foll[+ new subsections3  7b7 ,clos+     
7#a7 ,au?ority ( c]ta9 developm5t       
companies ,an accr$it$ l5d] c]tifi$     
company may take any ( ! foll[+ actions 
to facilitate ! clos+ ( a loan made "u  
subsection 7a73 7,a7 ,reallocate ! co/ (
 ! project ) respect to :i* ! loan is   
made 9 an am\nt t is n m ?an #aj p]c5t (
 ! ov]all co/ ( ! project4  7,b7        
,correct any "n t is applicable to !    
loan1 includ+ ! "n ( any borr[]1        
gu>antor1 eligible passive company      
describ$ 9 subp>agraph 7,c77i71 & op]at+
 company describ$ 9 subp>agraph         
7,c77ii74  7,c7 ,=m any ( ! foll[+ to   
receive proce$s ( ! loan3 7i7 ,an       
eligible passive company t complies )   
section #abj4aaa ( title #ac1 ,code (   
,f$]al ,regulations1 or any successor   

regulation4  7ii7 ,if an eligible       
passive company is =m$ "u clause 7i71 an
 op]at+ company ) respect to t eligible 
passive company4  7,d7 ,correct !       
address ( any prop]ty ) respect to :i* !
 loan is made4  7,e7 ,correct ! "n ( any
 int]im l5d] or ?ird-p>ty l5d]4  7,f7   
,*ange any ?ird-p>ty l5d] or int]im l5d]
 if t l5d] is a f9ancial in/itution t is
 regulat$ by ! ,f$]al ,gov]nm5t or a    
,/ate gov]nm5t4  7,g7 ,make a gu>antor a
 co-borr[] or a co-borr[] a gu>antor4   
7,h7 ,add a gu>antor t does n *ange     
own]%ip ) respect to ! loan4  7,i7      
,r$uce ! am\nt ( /&by debt be=e ! clos+ 
z a result ( regul>ly s*$ul$ paym5ts4   
7,j7 ,r$uce ! co/ ( ! project ) respect 
to :i* ! loan is made4  7#b7 ,fees ,!   
,adm9i/rator %all-- 7,a7 issue a rule   
reg>d+ ! am\nt ( a clos+ fee t may be   
f9anc$ 9 a deb5ture t is issu$ by a     
c]tifi$ developm5t company to make "o or
 m loans to small bus9ess conc]ns1 !    
proce$s ( :i* are us$ by t conc]n = !   
purposes describ$ 9 subsection 7a71     

except t su* am\nt %all be n less ?an   
#c1ejj2 &  7,b7 p]iodically update !    
rule issu$ "u subp>agraph 7,a74  7#c7   
,no adv]se *ange & f9ancial /atem5t     
,be=e ! clos+ ) respect to a loan made  
"u subsection 7a71 ! borr[] & any op]at+
 company %all-- 7,a7 make ! c]tification
 requir$ "u section #abj4hib ( title    
#ac1 ,code ( ,f$]al ,regulations1 or any
 successor regulation2 &  7,b7 submit to
 ! c]tifi$ developm5t company a f9ancial
 /atem5t t is n m ?an #ahj days old1 :i*
 ! company %all c]tify n lat] ?an #abj  
days be=e ! date on :i* ! c]tifi$       
developm5t company issues a deb5ture )  
respect to ! project to :i* ! loan      
relates4  7c7 ,express program ,an      
accr$it$ l5d] c]tifi$ company may1 )    
respect to a cov]$ loan1 take any ( !   
foll[+ actions ) respect to ! loan3 7#a7
 ,any action describ$ 9 any (           
subp>agraphs 7,a7 ?r\gh 7,j7 (          
subsection 7b77#a74  7#b7 ,if ! borr[]  
is n del9qu5t ) respect to ! loan       
paym5ts-- 7,a7 p]mit ! loan to          

subord9ate to a new ?ird-p>ty l5d] loan 
= ! purposes ( ref9anc+ t ?ird-p>ty l5d]
 loan1 except t no ref9anc$ am\nt )     
respect to ! loan may be increas$ 9 ord]
 to provide ca% to ! borr[]2  7,b7 p]mit
 a new p>ty to assume responsibility = !
 loan if ! orig9al borr[] rema9s on !   
loan z ! orig9al gu>antor2  7,c7 obta9  
=ce plac$ insurance cov]age = ! loan if 
! borr[] has all[$ insurance cov]age )  
respect to ! loan to lapse2 &  7,d7     
endorse an insurance *eck ) respect to !
 prop]ty t is f9anc$ by ! loan 9 an     
am\nt t is less ?an #ajj1jjj4  7#c7     
,c]tify t ! loan is compliant ) !       
appraisal requirem5ts & environm5tal    
policies & proc$ures applicable to !    
loan "u ,/&>d ,op]at+ ,proc$ure #ej #aj 
#f ( ! ,adm9i/ration1 effective ,augu/  
#bh1 #bjbj1 or any successor ,/&>d      
,op]at+ ,proc$ure4  7d7 ,def9itions ,9  
?is section-- 7#a7 ! t]m accr$it$ l5d]  
c]tifi$ company means a c]tifi$         
developm5t company t meets ! requirem5ts
 "u section #ejg7;b71 includ+ a c]tifi$ 

developm5t company t ! ,adm9i/ration has
 designat$ z an accr$it$ l5d] "u su*    
section #ejg7;b72 &  7#b7 ! t]m cov]$   
loan-- 7,a7 means a loan made "u        
subsection 7a7 9 an am\nt t is n m ?an  
#ejj1jjj2 &  7,b7 does n include a loan 
made to a borr[] t is a fran*ise t1 or  
is 9 an indu/ry t1 has a high rate (    
default1 z annually det]m9$ by !        
,adm9i/rator4  2 &  7#b7 by add+ at !   
end ! foll[+ new section3  #eaa4 ,clos+ 
& ov]sight  7a7 ,,sba di/rict c\nsels   
,beg9n+ on ! date ( enactm5t ( ?is      
section1 ) respect to ! program e/abli%$
 "u ?is title1 di/rict c\nsels ( !      
,adm9i/ration %all be subject to ! same 
requirem5ts1 & %all h ! same au?ority & 
responsibilities1 z 9 effect ) respect  
to t program on ! day be=e ! date (     
enactm5t ( ?is section1 except t-- 7#a7 
! ,(fice ( ,cr$it ,risk ,managem5t ( !  
,adm9i/ration %all h ! responsibility = 
all duties relat+ to conduct+ file      
reviews ( loans made "u ?is title2 &    
7#b7 di/rict c\nsels ( ! ,adm9i/ration  

%all n h any responsibility relat+ to ! 
review ( clos+ packages ) respect to a  
loan made "u ?is title4  7b7 ,designat$ 
attorneys ,= ! purposes ( ?is title1 !  
foll[+ provisions & requirem5ts %all    
apply ) respect to a designat$ attorney 
( a c]tifi$ developm5t company3 7#a7 ,a 
designat$ attorney t meets ! requirem5ts
 det]m9$ "u p>agraph 7#b7 %all be       
responsible = c]tify+ docum5ts relat+ to
 ! clos+ ( a loan describ$ 9 ?is title4 
7#b7 ,! ,adm9i/rator may det]m9e any    
cont9u+ education requirem5ts t !       
designat$ attorney %all be requir$ to   
satisfy 9 ord] to be p]mitt$ to close a 
loan made "u ?is title4  7#c7 ,if1 z ( !
 date ( enactm5t ( ?is section1 a       
c]tifi$ developm5t company does n h a   
designat$ attorney1 dur+ ! #bgj-;day    
p]iod beg9n+ on t date ( enactm5t1 !    
c]tifi$ developm5t company may id5tify  
su* an attorney1 subject to ! approval (
 ! ,adm9i/rator4  4  #e4 ,c]tifi$       
developm5t company loans = small        
manufactur]s  7a7 ,contribution         

requirem5t ,section #ejb7;a77#c77;,c7 ( 
! ,small ,bus9ess ,inve/m5t ,act (      
#aieh1 z designat$ by section #c1 is    
am5d$-- 7#a7 by r$esignat+ clauses 7i71 
7ii71 7iii71 & 7iv7 z subclauses 7,i71  
7,,ii71 7,,iii71 & 7,,iv71 respectively1
 & adju/+ ! m>g9s ( su* subclauses      
accord+ly2  7#b7 by ins]t+ be=e         
subclause 7,i71 z s r$esignat$1 !       
foll[+3  7i7 = a small bus9ess conc]n t 
is n a small manufactur] 7z def9$ 9     
section #eja7;e77#g77--  2  7#c7 9      
subclause 7,,iii71 z s r$esignat$1 by   
/rik+ clauses 7i7 & 7ii7 & ins]t+       
subclauses 7,i7 & 7,,ii72  7#d7 9       
subclause 7,,iv7 z s r$esignat$1 by     
/rik+ ! p]iod & ! end & ins]t+ 2 or2 &  
7#e7 by add+ at ! end ! foll[+3  7ii7 = 
a small manufactur] 7z def9$ 9 section  
#eja7;e77#g77-- 7,i7 at lea/ #e p]c5t ( 
! total co/ ( ! project f9anc$1 if !    
small bus9ess conc]n has be5 9 op]ation 
= a p]iod ( #b ye>s or less2  7,,ii7 at 
lea/ #e p]c5t ( ! total co/ ( ! project 
f9anc$1 if ! project involves a limit$  

or s+le purpose build+ or /ructure2     
7,,iii7 at lea/ #aj p]c5t ( ! total co/ 
( ! project f9anc$ if ! project involves
 bo? ( ! conditions set =? 9 subclauses 
7,i7 & 7,,ii72 or  7,,iv7 at lea/ #e    
p]c5t ( ! total co/ ( ! project f9anc$1 
9 all o!r circum/ances1 at ! discretion 
( ! developm5t company4  4  7b7         
,creation or ret5tion ( jobs requirem5t 
,section #eja7;e7 ( ! ,small ,bus9ess   
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fie7;e77 is am5d$-- 7#a7 9 p>agraph    
7#a71 by /rik+ creates or reta9s & all t
 foll[s ?r\gh ! p]iod at ! end & ins]t+ 
creates or reta9s #a job = e #ge1jjj    
gu>ante$ by ! ,adm9i/ration1 except t ! 
am\nt is #aej1jjj 9 ! case ( a project (
 a small manufactur]42  7#b7 9 p>agraph 
7#b71 by /rik+ creates or reta9s & all t
 foll[s ?r\gh ! p]iod at ! end & ins]t+ 
creates or reta9s #a job = e #ge1jjj    
gu>ante$ by ! ,adm9i/ration1 except t ! 
am\nt is #aej1jjj 9 ! case ( a project (
 a small manufactur]42  7#c7 by         
r$esignat+ p>agraph 7#f7 z p>agraph     

7#g72 &  7#d7 by ins]t+ aft] p>agraph   
7#e7 ! foll[+3  7#f7 ,= a loan = a      
project direct$ t[>d ! creation ( job   
opportunities "u subsection 7d77#a71 !  
,adm9i/rator %all publi% on ! website ( 
! ,adm9i/ration ! numb] ( jobs creat$ or
 reta9$ "u ! project z ( ! date t is #b 
ye>s aft] ! completion 7z det]m9$ bas$  
on in=mation provid$ by ! developm5t    
company7 ( ! project4  4  7c7 ,collat]al
 requirem5ts ,section                   
#ejb7;a77#c77;,e77i7 ( ! ,small ,bus9ess
 ,inve/m5t ,act ( #aieh1 z designat$ by 
section #c1 is am5d$ by add+ at ! end ! 
foll[+3 ,additional collat]al %all n be 
requir$ 9 ! case ( a small manufactur]  
7z def9$ 9 section #eja7;e77#g7744  7d7 
,debt ref9anc+ ,section                 
#ejb7;a77#g77;,b7 ( ! ,small ,bus9ess   
,inve/m5t ,act ( #aieh1 z designat$ by  
section #c1 is am5d$ 9 ! matt] prec$+   
clause 7i7 by ins]t+ 7or 9 ! case ( a   
small manufactur] 7z def9$ 9 section    
#eja7;e77#g771 t does n exce$ #ajj p]c5t
 ( ! project co/ ( ! expansion7 aft] co/

 ( ! expansion4  7e7 ,am\nt ( gu>ante$  
deb5ture ,section #ejc7;a7 ( ! ,small   
,bus9ess ,inve/m5t ,act ( #aieh 7#ae    
,u4,s4,c4 #fig7;a77 is am5d$ by add+ at 
! end ! foll[+3  7#e7 ,any deb5ture     
issu$ by a ,/ate or local developm5t    
company to a small manufactur] 7z def9$ 
9 section #eja7;e77#g77 ) respect to :i*
 a gu>antee is made "u ?is subsection   
%all be 9 an am\nt equal to n m ?an #ej 
p]c5t ( ! co/ ( ! project ) respect to  
:i* su* deb5ture is issu$1 )\t reg>d to 
:e!r good cause has be5 %[n4  4  #f4    
,assi/ance = small manufactur]s ,title  
,v ( ! ,small ,bus9ess ,inve/m5t ,act ( 
#aieh 7#ae ,u4,s4,c4 #fie et seq471 z   
am5d$ by section #d7b71 is fur!r am5d$  
by add+ at ! end ! foll[+ new section3  
#eab4 ,assi/ance = small manufactur]s   
7a7 ,9 g5]al ,! ,adm9i/rator %all ensure
 t ea* di/rict (fice ( ! ,adm9i/ration  
p>tn]s ) n less ?an #a res\rce p>tn] to 
provide tra9+ to small bus9ess conc]ns  
assign$ a ,nor? ,am]ican ,indu/ry       
,classification ,sy/em code =           

manufactur+ on obta9+ assi/ance "u !    
program c>ri$ out "u ?is title1 includ+ 
) respect to ! application process "u t 
program & p>tn]+ ) developm5t companies 
"u ?is title4  7b7 ,res\rce p>tn] def9$ 
,9 ?is section1 ! t]m res\rce p>tn]     
means-- 7#a7 a small bus9ess developm5t 
c5t] 7z def9$ 9 section #c ( ! ,small   
,bus9ess ,act72  7#b7 a wom5's bus9ess  
c5t] 7describ$ "u section #bi ( su*     
,act72  7#c7 a *apt] ( ! ,s]vice ,corps 
( ,retir$ ,executives 7e/abli%$ "u      
section #h7;b77#a77;,b7 ( su* ,act72 &  
7#d7 a ,vet]an ,bus9ess ,outrea* ,c5t]  
7describ$ "u section #cb ( su* ,act74  4