summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Expanding Access to Capital for Entrepreneurial Leaders Act or EXCEL Act - Amends the Small Business Investment Act of 1958 to authorize the Administrator of the Small Business Administration (SBA) to guarantee the payment of up to $4 billion per fiscal year for debentures or participating securities issued by small business investment companies (SBICs) to encourage the formation and growth of small businesses. Increases the maximum amount of outstanding leverage for two or more commonly-controlled SBICs. Authorizes annual inflationary adjustments of such limits. Directs the Administrator to make publicly available on the SBA website specified fiscal and related information with respect to each SBIC. Allows SBIC licensing fees to be used by the SBA for SBIC program needs other than the costs of licensing examinations. Expresses the sense of Congress that SBICs would benefit from partnerships with community banks and other lenders, and that the Administrator should: (1) increase outreach to such banks and lenders for investment in SBICs; (2) use the Internet to publicize which SBICs are soliciting and making investments in small businesses; (3) partner with governors, mayors, states, and municipalities to increase outreach by SBICs to underserved and rural areas; and (4) revise and update the SBIC program webpage to make it more prominent and user-friendly.
AI Summary
This bill, known as the EXCEL Act, aims to enhance the Small Business Investment Company (SBIC) program, which helps small businesses access capital. Key provisions include authorizing the Small Business Administration (SBA) Administrator to guarantee up to $4 billion annually in debentures or participating securities issued by SBICs, which are privately owned and managed investment funds licensed by the SBA to provide capital to small businesses. The bill also increases the maximum amount of outstanding leverage, or borrowed funds, that commonly-controlled SBICs can have and mandates annual adjustments to these limits to account for inflation, as measured by the Consumer Price Index (CPI). Furthermore, the SBA will be required to publicly share detailed financial and operational information about each SBIC on its website, and SBIC licensing fees can be used for broader program needs beyond just examination costs. Finally, Congress expresses its sense that SBICs would benefit from partnerships with community banks and other lenders, and encourages the SBA Administrator to increase outreach to these institutions, publicize which SBICs are actively investing, partner with local governments to reach underserved and rural areas, and improve the prominence and user-friendliness of the SBIC program's webpage.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Read twice and referred to the Committee on Small Business and Entrepreneurship. (on 05/24/2012)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/senate-bill/3253/all-info |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112s3253is/pdf/BILLS-112s3253is.pdf.pdf |
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