H.R. 5848 — Introduced in House

I 118th CONGRESS 1st Session H. R. 5848 IN THE HOUSE OF REPRESENTATIVES September 29, 2023Mr. Luetkemeyer (for himself, Mr. Williams of Texas, Mr. Meuser, Ms. Van Duyne, Mr. Bean of Florida, Mr. LaLota, and Mr. Alford) introduced the following bill; which was referred to the Committee on Small Business A BILL To prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes. 1. Prohibition on direct 7(a) loans (a) In general Notwithstanding any provision of subsection (a) of section 7 of the Small Business Act (15 U.S.C. 636(a)), the Administrator of the Small Business Administration may not directly make a loan pursuant to such subsection. (b) Existing loans The Administrator of the Small Business Administration shall service a direct loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(b)) if such loan was made before the date of the enactment of this Act.