Senate Committee Approves Two Small Business Bills
December 22, 2009 - The Senate Small Business and Entrepreneurship Committee approved two bills on Dec. 17 aimed at expanding export opportunities and improving access to capital for small businesses. The Small Business Export Enhancement and International Trade Act (S. 2862) would establish a Small Business Administration (SBA) associate administrator for international trade to spearhead the agency's international trade program and formulate its trade and export policy. The bill would further expand the number of SBA export finance specialists and raise to $5 million the maximum amount of an international trade loan or export working capital program loan.
The Small Business Job Creation and Access to Capital Act of 2009 (S. 2869) would seek to increase the ability of small business to obtain capital by boosting the loan limit on microloans from $35,000 to $50,000 and increase the maximum loan made to a microloan intermediary to $5 million from $3.5 million. The bill would also require SBA to create a Web site where small businesses can identify lenders in their communities.