Bill > S2637

This bill, titled the SBA Intermediary Lending Program Act of 2014, modifies the existing Small Business Intermediary Lending Program, which is administered by the Small Business Administration (SBA). The program allows the SBA to lend money to eligible organizations, known as "intermediaries," which then re-lend these funds to small businesses. The bill removes the word "pilot" from references to the program, suggesting it is moving beyond an experimental phase. It also eliminates a "3-year" limitation, likely referring to the program's duration or a specific pilot period. Crucially, the bill establishes new loan limits: individual loans to an intermediary cannot exceed $1,000,000, and the total amount the SBA can lend to any single intermediary is capped at $5,000,000. Furthermore, it sets specific funding amounts for the program, allowing up to $20,000,000 in fiscal years 2015, 2016, and 2017, and continuing with available appropriations in fiscal year 2018 and beyond. Finally, the bill removes a specific paragraph, likely related to a previous provision that is now superseded by these new regulations.