Page:United States Statutes at Large Volume 111 Part 3.djvu/518

 Ill STAT. 2606 PUBLIC LAW 105-135—DEC. 2, 1997 any such litigation to which a premier certified lender is a party), and liquidate loans"; (5) in subsection (f), by striking "State or local" and inserting "certified"; (6) in subsection (g), by striking the subsection heading and inserting the following: " (g) EFFECT OF SUSPENSION OR REVOCATION. — "; (7) by striking subsection (h) and inserting the following: "(h) PROGRAM GOALS. —Each certified development company participating in the program under this section shall establish a goal of processing a minimum of not less than 50 percent of the loan applications for assistance under section 504 pursuant to the program authorized under this section."; and (8) in subsection (i), by striking "other lenders" and inserting "other lenders, specifically comparing default rates and recovery rates on liquidations". (b) REGULATIONS.—The Administrator shall— (1) not later than 150 days after the date of enactment of this Act, promulgate regulations to carry out the amendments made by subsection (a); and (2) not later than 180 days sifter the date of enactment of this Act, issue program guidelines and fully implement the amendments made by subsection (a). (c) PROGRAM EXTENSION. — Section 217(b) of the Small Business Reauthorization and Amendments Act of 1994 (15 U.S.C. 697e note) is amended by striking "October 1, 1997" and inserting "October 1, 2000". Subtitle D—Miscellaneous Provisions SEC. 231. BACKGROUND CHECK OF LOAN APPLICANTS. Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) by striking "(a) The Administration" and inserting the following: "(a) LOANS TO SMALL BUSINESS CONCERNS; ALLOWABLE PUR- POSES; QUALIFIED BUSINESS; RESTRICTIONS AND LIMITATIONS. — The Administration"; and (2) in paragraph (1)— (A) by striking "(1) No financial" and inserting the following: "(1) IN GENERAL.— "(A) CREDIT ELSEWHERE. —No financial"; and (B) by adding at the end the following: "(B) BACKGROUND CHECKS.— Prior to the approval of any loan made pursuant to this subsection, or section 503 of the Small Business Investment Act of 1958, the Administrator may verify the applicant's criminal background, or lack thereof, through the best available means, including, if possible, use of the National Crime Information Center computer system at the Federal Bureau of Investigation.". SEC. 232. REPORT ON INCREASED LENDER APPROVAL, SERVICING, FORECLOSURE, LIQUIDATION, AND LITIGATION OF SEC- TION 7(a) LOANS. (a) IN GENERAL. —

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