,,ii  #aah? ,,congress  #a/ ,session    
,s4 #aceb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bg1 #bjbc ,ms4 
,klobu*> 7= h]self1 ,mr4 ,"y1 ,mr4      
,book]1 & ,mr4 ,rubio7 introduc$ !      
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,small ,bus9ess &    
,entrepr5eur%ip  ,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 ( #bjbc4 
#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,b71 z s r$esignat$1 !     
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,d71 z s r$esignat$1 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,l71
 z s r$esignat$1 by /rik+ produc]s1 or &
 ins]t+ produc]s12  7#e7 9 subp>agraph  
7,m71 z s r$esignat$1 by /rik+ ! p]iod  
at ! end & ins]t+ a comma2  7#f7 by     
ins]t+ aft] subp>agraph 7,m71 z s       
r$esignat$1 ! foll[+3  7,n7 enhanc$     

ability = small bus9ess conc]ns to r$uce
 co/s by us+ en]gy effici5t products &  
g5]at+ r5ewable en]gy1  7,o7 aid        
revitaliz+ ( any area = :i* a disa/] has
 be5 decl>$ or det]m9$ "u subp>agraph   
7,a71 7,b71 7,c71 or 7,e7 ( section     
#g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcf7;b77#b771 or  7,p7      
expansion ( small bus9ess conc]ns ) #aj 
or few] employees4  2 &  7#g7 9 ! flu%  
text foll[+ subp>agraph 7,p71 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 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[+3  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 ,accr$it$ l5d] c]tifi$    
company def9$ ,9 ?is section1 ! 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;b74  

2 &  7#b7 by add+ at ! end ! foll[+3    
#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$1 by     
/rik+ ! p]iod at ! end & ins]t+ 2 or2 & 
7#e7 by add+ at ! end ! foll[+3  7ii7 = 
a small manufactur] 7z def9$ 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$--  7#a7 9 ! matt]  
prec$+ clause 7i71 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/ ( ! expansion2  7#b7
 9 clause 7v71 by add+ & at ! end2  7#c7
 by /rik+ clause 7vi72 &  7#d7 by       
r$esignat+ clause 7vii7 z clause 7vi74  
7e7 ,am\nt ( gu>ante$ 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[+3  #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]1 z 
def9$ 9 section #c ( ! ,small ,bus9ess  
,act 7#ae ,u4,s4,c4 #fcb72  7#b7 a      
wom5's bus9ess c5t] describ$ 9 section  
#bi ( su* ,act 7#ae ,u4,s4,c4 #fef72    
7#c7 a *apt] ( ! ,s]vice ,corps (       
,retir$ ,executives e/abli%$ "u section 
#h7;b77#a77;,b7 ( su* ,act 7#ae         
,u4,s4,c4 #fcg7;b77#a77;,b772 &  7#d7 a 
,vet]an ,bus9ess ,outrea* ,c5t] describ$
 9 section #cb ( su* ,act 7#ae ,u4,s4,c4
 #feg;b74  4  #g4 ,leas+ rules = new    
facilities & exi/+ build+s  7a7 ,9 g5]al
 ,section #ejb7;a7 ( ! ,small ,bus9ess  
,inve/m5t ,act ( #aieh1 z designat$ by  
section #c1 is am5d$ by /rik+ p>agraphs 
7#d7 & 7#e7 & ins]t+ ! foll[+3  7#d7    
,new facilities  7,a7 ,9 g5]al ,)       
respect to a project to con/ruct a new  
facility1 an assi/$ small bus9ess conc]n
 may p]man5tly lease n m ?an #bj p]c5t (
 ! project if su* conc]n-- 7i7 p]man5tly
 occupies & uses n less ?an #fj p]c5t ( 
! project2  7ii7 plans to occupy & use  

an additional portion ( ! project t is n
 p]man5tly leas$ n lat] ?an #c ye>s aft]
 receipt ( assi/ance "u ?is section2 &  
7iii7 plans to p]man5tly occupy & use   
#hj p]c5t ( ! project n lat] ?an #aj    
ye>s aft] receipt ( su* assi/ance4  7,b7
 ,small manufactur]s ,) respect to an   
assi/$ small bus9ess conc]n t is a small
 manufactur] 7z def9$ 9 section         
#eja7;e77#g771 subp>agraph 7,a77i7 %all 
apply ) #ej p]c5t sub/itut$ = #fj p]c5t4
  7#e7 ,exi/+ build+s ,) respect to a   
project to acquire1 r5ovate1 or         
recon/ruct an exi/+ build+1 ! foll[+    
%all apply3  7,a7 ,occupancy requirem5ts
 ,! assi/$ small bus9ess conc]n may     
p]man5tly lease n m ?an #ej p]c5t ( !   
project if ! conc]n p]man5tly occupies &
 uses n less ?an #ej p]c5t ( ! project4 
7,b7 ,exception ,! assi/$ small bus9ess 
conc]n may p]man5tly lease m ?an #ej    
p]c5t ( ! project if--  7i7 su* conc]n--
 7,i7 has occupi$ & us$ ! exi/+ build+ =
 a consecutive #ab-mon? p]iod be=e      
submitt+ an application = assi/ance "u  

?is section2  7,,ii7 agrees to p]man5tly
 use less ?an #ej p]c5t ( ! exi/+ build+
 & p]man5tly lease m ?an #ej p]c5t = a  
consecutive #ab-mon? p]iod aft] receiv+ 
su* assi/ance2 &  7,,iii7 affirms t !   
exi/+ build+ is appropriate = curr5t &  
reasonably anticipat$ ne$s2 &  7ii7 !   
developm5t company assi/+ su* project-- 
7,i7 provides writt5 notice to !        
,adm9i/rator on ! date on :i* !         
developm5t company closes ! loan = su*  
project2 &  7,,ii7 once ea* ye> dur+ !  
fir/ #e ye>s ( ! loan1 & once e #b ye>s 
= ! rema9d] ( ! loan-- 7aa7 conducts an 
exam9ation ( ! assi/$ small bus9ess     
conc]n to ensure ! conc]n is n a real   
e/ate developm5t bus9ess2 &  7bb7 files 
) ! ,adm9i/rator an anti-inve/or        
c]tification sign$ by ! developm5t      
company & ! assi/$ small bus9ess conc]n4
  7,c7 ,lease t]m ,any resid5tial lease 
made "u ?is p>agraph %all be = a t]m ( n
 m ?an #a ye>1 & any comm]cial lease    
made "u ?is p>agraph %all be = a t]m ( n
 m ?an #e ye>s4  4  7b7 ,report ,n lat] 

?an #e ye>s aft] ! date ( enactm5t ( ?is
 ,act1 ! ,adm9i/rator ( ! ,small        
,bus9ess ,adm9i/ration %all submit to   
,congress a report analyz+ ! impact ( ! 
am5dm5ts made by ?is section on access  
to capital = small bus9ess conc]ns 7z   
def9$ 9 section #c ( ! ,small ,bus9ess  
,act 7#ae ,u4,s4,c4 #fcb771 & recomm5d+ 
:e!r simil> notice1 exam9ation1 &       
c]tifications requirem5ts %\ld be made  
to ! program e/abli%$ "u section #g7;a7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcf7;a774