MICROLOAN PROGRAM FUNDING AND STATE LIMITATIONS.

SEC. 204. MICROLOAN PROGRAM FUNDING AND STATE LIMITATIONS. Section 7(m)(7) of the Small Business Act (15 U.S.C. 636(m)(7)) is amended to read as follows: “(7) Program funding for microloans.— “(A) Number of participants.—During the demonstration program authorized by this subsection, the Administration may fund, on a competitive basis, not more than 200 microloan programs. “(B) State limitations.—During any fiscal year, a State shall not receive new loan funds from the Administration that exceed 125 percent of the State’s pro rata share of the microloan program authorization during such fiscal year, such share to be based on the population of the State, as compared to the total population of the United States.”.