,,ii  #aag? ,,congress  #b;d ,session   
,s4 #eajb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #af1 #bjbb,mr4
 ,c>d9 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,small ,bus9ess & ,entrepr5eur%ip  ,a   
,,bill  ,to au?orize ! ,community       
,advantage ,loan ,program ( ! ,small    
,bus9ess ,adm9i/ration1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,community ,advantage ,loan
 ,program ,p]man5cy ,act ( #bjbb4  #b4  
,f9d+s ,congress f9ds t-- 7#a7 capital  
access rema9s "o ( ! l>ge/ b>ri]s to    
ov]come = socially & economically       
disadvantag$ bus9ess own]s z well z = ! 
smalle/ small bus9esses2  7#b7 accord+  
to ! ,d\ble ,jeop>dy3 ,,covid-#ai's     
,conc5trat$ ,heal? & ,weal? ,effects 9  
,black ,communities /udy conduct$ by !  
,f$]al ,res]ve banks1 9 #bjbj-- 7,a7    
firms own$ by p ( color are m likely to 
h weak capitalizations1 limit$ bank     
relation%ips1 & little 9 ca% res]ves2 & 
7,b7 #ea p]c5t ( ,black-own$ bus9esses h

 less ?an #c mon?s ( ca% res]ves 9 case 
( an em]g5cy1 :i* is ne>ly #g p]c5tage  
po9ts high] ?an _! pe]s2  7#c7 accord+  
to ! ,small ,bus9ess ,cr$it ,survey     
conduct$ by ! ,f$]al ,res]ve banks1 9   
#bjba-- 7,a7 #ca p]c5t ( firms t s\ght  
f9anc+ receiv$ ! full f9anc+ s\ght by ! 
firm2  7,b7 firms own$ by p ( color 7   
lea/ likely to receive ! full am\nt (   
f9anc+ s\ght by ! firm1 ) #ae p]c5t (   
,asian-own$ bus9esses1 #af p]c5t (      
,black-own$ bus9esses1 & #ai p]c5t (    
,hispanic-own$ bus9esses receiv+ full   
f9anc+1 z oppos$ to #ce p]c5t (         
non-,hispanic ,:ite-own$ bus9esses      
receiv+ full f9anc+2 &  7,c7 firms )    
few] employees 7 also lea/ likely to    
receive ! full f9anc+ s\ght by ! firm1 )
 #bc p]c5t ( bus9esses ) #a to #d       
employees & #cg p]c5t ( bus9esses ) #e  
to #di employees receiv+ full f9anc+1 z 
oppos$ to #ee p]c5t ( bus9esses ) #ej to
 #dii employees receiv+ full f9anc+2    
7#d7 ! ,community ,advantage ,pilot     
,program ( ! ,small ,bus9ess            

,adm9i/ration has help$ increase l5d+   
back$ by ! ,adm9i/ration to firms own$  
by p ( color1 wom51 & vet]ans & firms   
classifi$ z />t ups2  7#e7 f fiscal ye> 
#bjah to fiscal ye> #bjbb-- 7,a7 #ac    
p]c5t ( loans "u ! ,community ,advantage
 ,pilot ,program w5t to ,black bus9ess  
own]s1 :ile #d p]c5t ( loans "u ! loan  
program "u section #g7;a7 ( ! ,small    
,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77  
79 ?is section ref]r$ to z ! #g7;a7 loan
 program7 w5t to ,black bus9ess own]s2  
7,b7 #ae p]c5t ( loans "u ! ,community  
,advantage ,pilot ,program w5t to       
,hispanic bus9ess own]s1 :ile #h p]c5t (
 loans "u ! #g7;a7 loan program w5t to  
,hispanic bus9ess own]s2  7,c7 #bj p]c5t
 ( loans "u ! ,community ,advantage     
,pilot ,program w5t to wom5 bus9ess     
own]s1 :ile #ag p]c5t ( loans "u !      
#g7;a7 loan program w5t to wom5 bus9ess 
own]s2 &  7,d7 #i p]c5t ( loans "u !    
,community ,advantage ,pilot ,program   
w5t to vet]an bus9ess own]s1 :ile #e    
p]c5t ( loans "u ! #g7;a7 loan program  

w5t to vet]an bus9ess own]s2 &  7#f7 f  
fiscal ye> #bjbj to fiscal ye> #bjba1   
#ad p]c5t ( loans "u ! ,community       
,advantage ,pilot ,program w5t to />tup 
bus9ess own]s1 :ile #g p]c5t ( loans "u 
! #g7;a7 loan program w5t to />tup      
bus9ess own]s4  #c4 ,community          
,advantage ,loan ,program  7a7 ,9 g5]al 
,section #g7;a7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7;a77 is am5d$ by   
add+ at ! end ! foll[+3  7#ch7          
,community ,advantage ,loan ,program    
7,a7 ,purposes ,! purposes ( !          
,community ,advantage ,loan ,program    
are-- 7i7 to create a mission-ori5t$    
loan gu>antee program t builds on !     
demon/rat$ success ( ! ,community       
,advantage ,pilot ,program ( !          
,adm9i/ration1 z e/abli%$ 9 #bjaa1 to   
rea* m und]s]v$ small bus9ess conc]ns2  
7ii7 to increase l5d+ to small bus9ess  
conc]ns 9 und]s]v$ & rural m>kets1      
includ+ vet]ans & memb]s ( ! milit>y    
community1 socially & economically      
disadvantag$ individuals1 z describ$ 9  

p>agraphs 7#e7 & 7#f77;,a7 ( section    
#h7;a71 respectively1 wom51 & new       
bus9esses2  7iii7 to ensure t ! program 
"u ?is subsection exp&s inclusion & m   
broadly meets congressional int5t to    
rea* borr[]s :o are unable to get cr$it 
else:]e on reasonable t]ms & conditions2
  7iv7 to help und]s]v$ small bus9ess   
conc]ns become bankable by utiliz+ !    
small doll> f9anc+ & bus9ess support    
exp]i5ce ( mission-ori5t$ l5d]s2  7v7 to
 all[ c]ta9 mission-ori5t$ l5d]s1       
prim>ily f9ancial int]m$i>ies focus$ on 
economic developm5t 9 und]s]v$ m>kets1  
access to gu>antees = loans "u ?is      
subsection 79 ?is p>agraph ref]r$ to z  
#g7;a7 loans7 ( n m ?an #cej1jjj &      
provide managem5t & te*nical assi/ance  
to small bus9ess conc]ns z ne$$2  7vi7  
to provide c]ta9ty = ! l5d+ p>tn]s t    
make loans "u ?is subsection & to       
attract new l5d]s2  7vii7 to enc\rage   
collaboration betwe5 mission-ori5t$ &   
conv5tional l5d]s "u ?is subsection 9   
ord] to support und]s]v$ small bus9ess  

conc]ns2 &  7viii7 to assi/ cov]$       
in/itutions ) provid+ bus9ess support   
s]vices & te*nical assi/ance to small   
bus9ess conc]ns1 :5 ne$$4  7,b7         
,def9itions ,9 ?is p>agraph-- 7i7 ! t]m 
,community ,advantage ,network ,p>tn]-- 
7,i7 means a nonpr(it1 mission-ori5t$   
organization t acts z a ,ref]ral ,ag5t  
to cov]$ in/itutions 9 ord] to exp& !   
rea* ( ! program to small bus9esses 9   
und]s]v$ m>kets2 &  7,,ii7 does n       
include a cov]$ in/itution mak+ loans "u
 ! program2  7ii7 ! t]m cov]$ in/itution
 means an entity t-- 7,i7 is-- 7aa7 a   
developm5t company1 z def9$ 9 section   
#ajc ( ! ,small ,bus9ess ,inve/m5t ,act 
( #aieh 7#ae ,u4,s4,c4 #ffb71 p>ticipat+
 9 ! #ejd ,loan ,gu>anty program        
e/abli%$ "u title ,v ( t ,act 7#ae      
,u4,s4,c4 #fie et seq472  7bb7 a        
nonpr(it int]m$i>y1 z def9$ 9 subsection
 7m77#aa71 p>ticipat+ 9 ! microloan     
program "u subsection 7m72  7cc7 a      
non-,f$]ally regulat$ entity or a l5d+  
in/itution c]tifi$ z a community        

developm5t f9ancial in/itution by !     
,community ,developm5t ,f9ancial        
,in/itutions ,fund e/abli%$ "u section  
#ajd7;a7 ( ! ,riegle ,community         
,developm5t & ,regulatory ,improvem5t   
,act ( #aiid 7#ab ,u4,s4,c4 #dgjc7;a772 
or  7dd7 an eligible int]m$i>y1 z def9$ 
9 subsection 7l77#a71 p>ticipat+ 9 !    
,int]m$i>y ,l5d+ ,program e/abli%$ "u   
subsection 7l77#b72 &  7,,ii7 has       
approv$ & disburs$ #aj simil>ly siz$    
loans 9 ! prec$+ #bd-mon? p]iod & is    
s]vic+ n less ?an #aj simil>ly siz$     
loans to small bus9ess conc]ns 9 !      
portfolio ( ! entity2  7iii7 ! t]m exi/+
 bus9ess means a small bus9ess conc]n t 
has be5 9 exi/5ce = n less ?an #b ye>s  
on ! date on :i* a loan is made to !    
small bus9ess conc]n "u ! program2  7iv7
 ! t]m new bus9ess means a small bus9ess
 conc]n t has be5 9 exi/5ce = n m ?an #b
 ye>s on ! date on :i* a loan is made to
 ! small bus9ess conc]n "u ! program2   
7v7 ! t]m program means ! ,community    
,advantage ,loan ,program e/abli%$ "u   

subp>agraph 7,c72  7vi7 ! t]m ,ref]ral  
,ag5t has ! mean+ giv5 ! t]m 9 section  
#ajc4a7;f7 ( title #ac1 ,code ( ,f$]al  
,regulations1 or any successor          
regulation2  7vii7 ! t]m rural area     
means any c\nty t ! ,bureau ( ! ,c5sus  
has def9$ z mo/ly rural or completely   
rural 9 ! mo/ rec5t dec5nial c5sus2 &   
7viii7 ! t]m small bus9ess conc]n 9 an  
und]s]v$ m>ket means a small bus9ess    
conc]n-- 7,i7 t is locat$ 9-- 7aa7 a l[-
 to mod]ate-income community2  7bb7 a   
,h,u,b,zone1 z t t]m is def9$ 9 section 
#ca7;b72  7cc7 a rural area2 or  7dd7   
any area = :i* a disa/] decl>ation or   
det]m9ation describ$ 9 subp>agraph 7,a71
 7,b71 7,c71 or 7,e7 ( subsection       
7b77#b7 has be5 made t has n t]m9at$ m  
?an #b ye>s be=e ! date 7or lat]1 z     
det]m9$ by ! ,adm9i/rator7 on :i* a loan
 is made to ! small bus9ess conc]n "u ! 
program1 except t1 9 ! case ( a major   
disa/] describ$ 9 subsection            
7b77#b77;,a71 t p]iod %all be #e ye>s2  
7,,ii7 = :i* m ?an #ej p]c5t ( !        

employees reside 9 a l[- or             
mod]ate-income community2  7,,iii7 t is 
a new bus9ess2  7,,iv7 own$ & controll$ 
by socially & economically disadvantag$ 
individuals1 z describ$ 9 p>agraphs 7#e7
 & 7#f77;,a7 ( section #h7;a71          
respectively1 :i* ! ,adm9i/rator1 9     
c>ry+ out ! program1 %all presume       
includes ,black ,am]icans1 ,hispanic    
,am]icans1 ,native ,am]icans1 ,asian    
,pacific ,am]icans1 & o!r m9orities2    
7,v7 own$ & controll$ by wom52  7,,vi7  
own$ & controll$ by vet]ans or sp\ses ( 
vet]ans2  7,,vii7 own$ & controll$ by a 
memb] ( an ,indian ,tribe individually  
id5tifi$ 7includ+ p>5!tically7 9 ! mo/  
rec5t li/ publi%$ pursuant to section   
#ajd ( ! ,f$]ally ,recogniz$ ,indian    
,tribe ,li/ ,act ( #aiid 7#be ,u4,s4,c4 
#eaca72  7,,viii7 own$ & controll$ by an
 individual :o has complet$ a t]m (     
imprisonm5t 9 a ,f$]al1 ,/ate1 or local 
jail or prison2  7,,ix7 own$ & controll$
 by an individual ) a disability1 z t   
t]m is def9$ 9 section #c ( ! ,am]icans 

) ,disabilities ,act ( #aiij 7#db       
,u4,s4,c4 #abajb72 or  7,x7 z o!rwise   
det]m9$ by ! ,adm9i/rator4  7,c7        
,e/abli%m5t ,!re is e/abli%$ a          
,community ,advantage ,loan ,program "u 
:i* ! ,adm9i/ration may gu>antee loans  
made by cov]$ in/itutions "u ?is        
subsection1 ) an emphasis on loans made 
to small bus9ess conc]ns 9 und]s]v$     
m>kets4  7,d7 ,program levels ,9 fiscal 
ye> #bjbc & ea* fiscal ye> !reaft]1 n m 
?an #aj p]c5t ( ! numb] ( loans gu>ante$
 "u ?is subsection may be gu>ante$ "u ! 
program4  7,e7 ,gr&fa!r+ ( exi/+ l5d]s  
,any cov]$ in/itution t actively        
p>ticipat$ 9 ! ,community ,advantage    
,pilot ,program ( ! ,adm9i/ration & is 9
 good /&+1 z det]m9$ by ! ,adm9i/ration1
 on ! day be=e ! date ( enactm5t ( ?is  
p>agraph-- 7i7 %all reta9 designation 9 
! program2  7ii7 %all n be requir$ to   
submit an application to p>ticipate 9 ! 
program2 &  7iii7 = ! purpose ( det]m9+ 
! loan loss res]ve am\nt ( ! cov]$      
in/itution1 %all h p>ticipation 9 !     

,community ,advantage ,pilot ,program   
includ$ 9 ! calculation "u subp>agraph  
7,j74  7,f7 ,requirem5t to make loans to
 und]s]v$ m>kets ,n less ?an #gj p]c5t (
 loans made by a cov]$ in/itution "u !  
program %all consi/ ( loans made to     
small bus9ess conc]ns 9 und]s]v$ m>kets4
  7,g7 ,maximum loan am\nt ,! maximum   
loan am\nt = a loan gu>ante$ "u !       
program is #cej1jjj4  7,h7 ,int]e/ rates
 ,! maximum all[able int]e/ rate        
prescrib$ by ! ,adm9i/ration on any     
f9anc+ made on a def]r$ basis pursuant  
to ! program %all n exce$ ! maximum     
all[able int]e/ rate "u sections        
#abj4bac & #abj4bad ( title #ac1 ,code (
 ,f$]al ,regulations1 or any successor  
regulations4  7,i7 ,ref9anc+ (          
,community ,advantage program loans ,a  
loan gu>ante$ "u ! program or gu>ante$  
"u ! ,community ,advantage ,pilot       
,program ( ! ,adm9i/ration may be       
ref9anc$ into ano!r #g7;a7 loan made by 
l5d] t does n p>ticipate 9 ! program4   
7,j7 ,loan loss res]ve requirem5ts  7i7 

,loan loss res]ve acc\nt = cov]$        
in/itutions ,a cov]$ in/itution-- 7,i7 )
 n m ?an #e ye>s ( p>ticipation 9 !     
program %all ma9ta9 a loan loss res]ve  
acc\nt ) an am\nt equal to #e p]c5t ( ! 
out/&+ am\nt ( ! ungu>ante$ portion ( ! 
loan portfolio ( ! cov]$ in/itution "u !
 program2 &  7,,ii7 ) m ?an #e ye>s (   
p>ticipation 9 ! program %all ma9ta9 a  
loan loss res]ve acc\nt ) an am\nt equal
 to ! av]age repur*ase rate ( ! cov]$   
in/itution ov] ! prec$+ #cf-mon? p]iod4 
7ii7 ,additional loan loss res]ve am\nt 
= sell+ loans on ! second>y m>ket ,9    
addition to ! am\nt requir$ 9 ! loan    
loss res]ve acc\nt "u clause 7i71 a     
cov]$ in/itution t sells a program loan 
on ! second>y m>ket %all be requir$ to  
ma9ta9 ! foll[+ additional am\nts 9 !   
loan loss res]ve acc\nt3 7,i7 ,an am\nt 
equal to #b p]c5t ( ! gu>ante$ portion (
 ea* program loan sold on ! second>y    
m>ket = l5d]s ) less ?an #e ye>s        
exp]i5ce sell+ program loans on !       
second>y m>ket4  7,,ii7 ,an am\nt equal 

to ! av]age repur*ase rate = loans sold 
by ! l5d] on ! second>y m>ket ov] !     
prec$+ #cf mon?s = l5d]s ) m ?an #e ye>s
 exp]i5ce sell+ program loans on !      
second>y m>ket4  7iii7 ,recalculation ,!
 loan loss res]ve requir$ "u clauses 7i7
 & 7ii7 %all be recalculat$ on ,octob]  
#a ( ea* ye>4  7,k7 ,tra9+ ,!           
,adm9i/ration-- 7i7 %all provide        
accessible upfront & ongo+ tra9+ = cov]$
 in/itutions mak+ loans "u ! program to 
support program compliance & improve !  
int]face betwe5 ! cov]$ in/itutions & ! 
,adm9i/ration1 :i* %all include-- 7,i7  
guidance = foll[+ ! regulations ( !     
,adm9i/ration2 &  7,,ii7 guidance       
specific to mission-ori5t$ l5d+ t is    
int5d$ to help l5d]s effectively rea* & 
support und]s]v$ small bus9ess conc]ns1 
includ+ managem5t & te*nical assi/ance  
deliv]y2  7ii7 %all ensure t ! tra9+    
describ$ 9 clause 7i7 is provid$ = free 
or at a l[ co/2  7iii7 may ent] into a  
contract to provide ! tra9+ describ$ 9  
clause 7i7 ) an organization ) exp]tise 

9 l5d+ "u ?is subsection & prim>ily     
specializ+ 9 mission-ori5t$ l5d+1 & l5d+
 to und]s]v$ m>kets2 &  7iv7 %all       
provide tra9+ = ! employees &           
contractors ( ! ,adm9i/ration t regul>ly
 engage ) cov]$ in/itutions or borr[]s 9
 ! program4  7,l7 ,community advantage  
outrea* & education ,! ,adm9i/rator--   
7i7 %all develop & implem5t a program to
 promote to1 conduct outrea* to1 &      
educate prospective cov]$ in/itutions   
ab\t ! program1 ) a focus on wom5- &    
m9ority-own$ cov]$ in/itutions2 &  7ii7 
may ent] into a contract ) #a or m      
nonpr(it organizations exp]i5c$ 9 work+ 
) & tra9+ mission driv5 l5d]s to provide
 ! outrea* & education describ$ 9 clause
 7i74  7,m7 ,community advantage network
 p>tn] p>ticipation  7i7 ,9 g5]al ,a    
cov]$ in/itution t uses a ,community    
,advantage ,network ,p>tn] %all abide by
 policies & proc$ures ( ! ,adm9i/ration 
conc]n+ ! use ( ,ref]ral ,ag5t fees     
p]mitt$ by ! ,adm9i/ration & disclosure 
( ^? fees4  7ii7 ,paym5t ( fees ,not)/&+

 any o!r provision ( law1 all fees      
describ$ 9 clause 7i7 %all be paid by ! 
cov]$ in/itution to ! ,community        
,advantage ,network ,p>tn] ^u           
disbursem5t ( ! applicable program loan4
  7,n7 ,delegat$ au?ority ,a cov]$      
in/itution is n eligible to receive     
delegat$ au?ority f ! ,adm9i/ration "u !
 program until ! cov]$ in/itution has   
approv$ & fully disburs$ n less ?an #aj 
loans "u ! program & ! ,adm9i/ration _h 
evaluat$ ! ability ( ! cov]$ in/itution 
to fulfill program requirem5ts4  7,o7   
,report+  7i7 ,weekly reports  7,i7 ,9  
g5]al ,! ,adm9i/ration %all report on ! 
website ( ! ,adm9i/ration1 z "p ( !     
weekly reports on l5d+ approvals "u ?is 
subsection-- 7aa7 on & aft] ! date (    
enactm5t ( ?is p>agraph1 ! numb] & doll>
 am\nt ( loans gu>ante$ "u ! ,community 
,advantage ,pilot ,program ( !          
,adm9i/ration2 &  7bb7 on & aft] ! date 
on :i* ! ,adm9i/ration beg9s to approve 
loans "u ! program1 ! numb] & doll>     
am\nt ( loans gu>ante$ "u ! program4    

7,,ii7 ,sep>ate acc\nt+ ,! numb] & doll>
 am\nt ( loans report$ 9 a weekly report
 "u subclause 7,i7 = loans gu>ante$ "u !
 ,community ,advantage ,pilot ,program (
 ! ,adm9i/ration & "u ! program %all    
include a breakd[n by ! categories (    
race1 e?nicity1 & g5d] ( ! own]s ( !    
small bus9ess conc]ns1 by :e!r ! small  
bus9ess conc]n is a new or exi/+ small  
bus9ess conc]n1 & by :e!r ! small       
bus9ess conc]n is locat$ 9 an urban or  
rural area1 & brok5 d[n by-- 7aa7 loans 
( n m ?an #ej1jjj2  7bb7 loans ( m ?an  
#ej1jjj & n m ?an #aej1jjj2  7cc7 loans 
( m ?an #aej1jjj & n m ?an #bej1jjj2 &  
7dd7 loans ( m ?an #bej1jjj & n m ?an   
#cej1jjj4  7ii7 ,annual reports  7,i7 ,9
 g5]al ,= ea* fiscal ye> 9 :i* ! program
 is 9 effect1 ! ,adm9i/ration %all      
submit to ! ,committee on ,small        
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & 
! ,committee on ,small ,bus9ess ( !     
,h\se ( ,repres5tatives1 & make publicly
 available on ! int]net1 in=mation ab\t 
loans provid$ "u ! program & "u !       

,community ,advantage ,pilot ,program ( 
! ,adm9i/ration4  7,,ii7 ,cont5ts ,ea*  
report submitt$ & made publicly         
available "u subclause 7,i7 %all        
include-- 7aa7 ! numb] & doll> am\nts ( 
loans provid$ to small bus9ess conc]ns  
"u ! program1 includ+ a breakd[n by--   
7,,aa7 ! g5d] ( ! own]s ( ! small       
bus9ess conc]n2 7,,bb7 ! race & e?nicity
 ( ! own]s ( ! small bus9ess conc]n1    
disaggregat$ 9 a mann] t captures all ! 
racial gr\ps specifi$ 9 ! ,am]ican      
,community ,survey conduct$ by ! ,bureau
 ( ! ,c5sus2 7,,cc7 :e!r ! small bus9ess
 conc]n is locat$ 9 an urban or rural   
area2 & 7,,dd7 :e!r ! small bus9ess     
conc]n is an exi/+ bus9ess or a new     
bus9ess1 z provid$ 9 ! weekly reports on
 l5d+ approvals "u ?is subsection2  7bb7
 ! proportion ( loans describ$ 9 item   
7aa7 comp>$ to-- 7,,aa7 o!r #g7;a7 loans
 ( any am\nt2 7,,bb7 o!r #g7;a7 loans ( 
simil> am\nts2 7,,cc7 express loans     
provid$ "u p>agraph 7#ca7 ( simil>      
am\nts2 & 7,,dd7 o!r #g7;a7 loans (     

simil> am\nts provid$ to small bus9ess  
conc]ns 9 und]s]v$ m>kets2  7cc7 a      
comp>ison ( ! numb] & doll> am\nts (    
loans provid$ to small bus9ess conc]ns  
"u ! program & "u ea* category ( loans  
describ$ 9 item 7aa71 brok5 d[n by--    
7,,aa7 loans ( n m ?an #ej1jjj2 7,,bb7  
loans ( m ?an #ej1jjj & n m ?an         
#aej1jjj2 7,,cc7 loans ( m ?an #aej1jjj 
& n m ?an #bej1jjj2 & 7,,dd7 loans ( m  
?an #bej1jjj & n m ?an #cej1jjj2  7dd7 !
 numb] & doll> am\nts ( loans provid$ to
 small bus9ess conc]ns "u ! program by  
,/ate1 & ! jobs creat$ or reta9$ )9 ea* 
,/ate2  7ee7 a li/ ( cov]$ in/itutions  
p>ticipat+ 9 ! program & ! ,community   
,advantage ,pilot ,program ( !          
,adm9i/ration1 includ+-- 7,,aa7 ! "n1   
location1 & contact in=mation1 su* z !  
website & telephone numb]1 ( ea* cov]$  
in/itution2 & 7,,bb7 a breakd[n by !    
numb] & doll> am\nt ( ! loans approv$ = 
small bus9ess conc]ns2 &  7ff7 ! b5*m>ks
 e/abli%$ by ! ,community ,advantage    
,work+ ,gr\p "u subp>agraph 7,o77i74    

7,,iii7 ,tim+ ,an annual report requir$ 
"u ?is clause %all-- 7aa7 be submitt$ & 
made publicly available n lat] ?an      
,decemb] #a ( ea* ye>2 &  7bb7 cov] !   
l5d+ activity = ! fiscal ye> t end$ on  
,septemb] #cj ( t same ye>4  7,p7 ,,gao 
report ,n lat] ?an #e ye>s aft] ! date (
 enactm5t ( ?is p>agraph1 ! ,comptroll] 
,g5]al ( ! ,unit$ ,/ates %all submit to 
! ,adm9i/rator1 ! ,committee on ,small  
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate1 &
 ! ,committee on ,small ,bus9ess ( !    
,h\se ( ,repres5tatives a report-- 7i7  
assess+-- 7,i7 ! ext5t to :i* ! program 
fulfills ! requirem5ts ( ?is p>agraph2 &
  7,,ii7 ! p]=mance ( cov]$ in/itutions 
p>ticipat+ 9 ! program2 &  7ii7 provid+ 
recomm5dations on ! adm9i/ration ( !    
program & ! f9d+s "u subclauses 7,i7 &  
7,,ii7 ( clause 7i74  7,q7 ,community   
,advantage ,work+ ,gr\p  7i7 ,9 g5]al ,n
 lat] ?an #ij days aft] ! date (        
enactm5t ( ?is p>agraph1 ! ,adm9i/rator 
%all e/abli% a ,community ,advantage    
,work+ ,gr\p1 :i* %all-- 7,i7 include-- 

7aa7 a geographically div]se            
repres5tation ( memb]s f among cov]$    
in/itutions p>ticipat+ 9 ! program2 &   
7bb7 repres5tatives f ! ,(fice (        
,capital ,access ( ! ,adm9i/ration1     
includ+ ! ,(fice ( ,cr$it ,risk         
,managem5t1 ! ,(fice ( ,f9ancial        
,assi/ance1 & ! ,(fice ( ,economic      
,opportunity2  7,,ii7 develop           
recomm5dations on h[ ! ,adm9i/ration c  
effectively manage1 support1 & promote !
 program & ! mission ( ! program2       
7,,iii7 e/abli% metrics ( success &     
b5*m>ks t reflect ! mission & population
 s]v$ by cov]$ in/itutions "u ! program1
 :i* ! ,adm9i/ration %all use to        
evaluate ! p]=mance ( ^? cov]$          
in/itutions2  7,,iv7 e/abli% crit]ia    
assess+ ! bus9ess support s]vices &     
te*nical assi/ance ne$s ( borr[]s &     
me?ods to assess l5d] exp]tise to       
provide necess>y s]vices & assi/ance2 & 
7,v7 in/itute regul> & su/a9able sy/ems 
( communication betwe5 ! ,adm9i/ration &
 cov]$ in/itutions p>ticipat+ 9 !       

program4  7ii7 ,report ,n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ?is        
p>agraph1 ! ,adm9i/rator %all submit to 
! ,committee on ,small ,bus9ess &       
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives a report t includes-- 
7,i7 ! recomm5dations ( ! ,community    
,advantage ,work+ ,gr\p e/abli%$ "u     
clause 7i72 &  7,,ii7 a recomm5d$ plan &
 timel9e = implem5tation ( ^?           
recomm5dations4  7,r7 ,regulations  7i7 
,9 g5]al ,n lat] ?an #ahj days aft] !   
date ( enactm5t ( ?is p>agraph1 !       
,adm9i/rator %all promulgate regulations
 gov]n+ ! program1 includ+ metrics =    
l5d] p]=mance1 metrics ( success &      
b5*m>ks ( ! program1 & crit]ia =        
appropriate managem5t & te*nical        
assi/ance4  7ii7 ,updates ,!            
,adm9i/rator %all consult ! report issu$
 "u subp>agraph 7,p77ii7 &1 n lat] ?an  
#ahj days aft] submission ( ! report1   
promulgate any necess>y *anges to exi/+ 
regulations ( ! ,adm9i/ration bas$ on ! 

recomm5dations conta9$ 9 ! report4  7,s7
 ,au?orization ( appropriations ,!re is 
au?oriz$ to be appropriat$ su* sums z   
may be necess>y to conduct outrea* &    
education describ$ 9 subp>agraph 7,l74  
4  7b7 ,p>ticipation ,section #g7;a77#b7
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcf7;a77#b77 is am5d$-- 7#a7 9        
subp>agraph 7,a71 9 ! matt] prec$+      
clause 7i71 by /rik+ & 7,f7 & ins]t+    
7,f71 & 7,g72 &  7#b7 by add+ at ! end !
 foll[+3  7,g7 ,p>ticipation 9 !        
,community ,advantage ,loan ,program ,9 
an agreem5t to p>ticipate 9 a loan on a 
def]r$ basis "u p>agraph 7#ch71 !       
p>ticipation by ! ,adm9i/ration %all    
be-- 7i7 #hj p]c5t ( ! balance ( !      
f9anc+ out/&+ at ! "t ( ! disbursem5t ( 
! loan1 if t balance is m ?an #aej1jjj &
 n m ?an #cej1jjj2 or  7ii7 #ij p]c5t ( 
! balance ( ! f9anc+ out/&+ at ! "t ( ! 
disbursem5t ( ! loan1 if t balance is n 
m ?an #aej1jjj4  4