Pub. L. 111-240, tit. I, subtit. A, pt. I, sec. 1111 (as amended)

BUSINESS LOANS.

Year: 2021Length: 135 wordsOfficial source
SEC. 1111. SECTION 7(a) BUSINESS LOANS. (a) Amendment.—Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) in paragraph (2)(A)— (A) in clause (i), by striking “75 percent” and inserting “90 percent”; and (B) in clause (ii), by striking “85 percent” and inserting “90 percent”; and (2) in paragraph (3)(A), by striking “$1,500,000 (or if the gross loan amount would exceed $2,000,000” and inserting “$4,500,000 (or if the gross loan amount would exceed $5,000,000”. (b) Prospective Repeal.—Effective January 1, 2011, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) in paragraph (2)(A)— (A) in clause (i), by striking “90 percent” and inserting “75 percent”; and (B) in clause (ii), by striking “90 percent” and inserting “85 percent”; and (2) in paragraph (3)(A), by striking “$4,500,000” and inserting “$3,750,000”.
Pub. L. 111-240, tit. I, subtit. A, pt. I, sec. 1111 (as amended): BUSINESS LOANS. | Justis AI