Page:United States Statutes at Large Volume 123.djvu/177

 123STA T . 1 57PUBLIC LA W 111 – 5 —FE B. 17 , 2 0 0 9foranysi n gle en t er p rise s h all not ,w itho u t the appro v al of the Adm inistrator, e xc eed 10 percent of the sum of —‘ ‘ ( 1 ) the private capital of such company and ‘‘( 2 ) the total amount of leverage pro j ected b y the company in the company ’ s business plan that was approved by the Administrator at the time of the grant of the company’s license . ’’. (c) INVESTM ENTS I N S M AL LE RE NTER P RISES.—Section 3 03(d) of the Small B usiness Investment Act of 1 958 (15 U .S. C . 6 83(d)) is amended to read as follows ‘‘(d) INVESTMENTS IN SMALLER ENTERPRISES.— T he Adminis - trator shall re q uire each licensee, as a condition of approval of an application for leverage, to certify in writing that not less than 25 percent of the aggregate dollar amount of financings of that licensee shall be provided to smaller enterprises.’’. SE C . 506.B U SINESS STA B ILI Z ATI O N P RO G RAM. (a) IN G ENERAL.— Subject to the availability of appropriations, the Administrator of the Small Business Administration shall carry out a program to provide loans on a deferred basis to viable (as such term is deter- mined pursuant to regulation by the Administrator of the Small Business Administration) small business concerns that have a quali- fying small business loan and are experiencing immediate financial hardship. (b) ELIGIBLE BORRO W ER.—A small business concern as defined under section 3 of the Small Business Act (15 U.S.C. 632). (c) Q UALI FY ING SMALL BUSINESS L OAN.—A loan made to a small business concern that meets the eligibility standards in sec- tion 7 (a) of the Small Business Act (15 U.S.C. 636(a)) but shall not include loans guarantees (or loan guarantee commitments made) by the Administrator prior to the date of enactment of this Act. (d) LOAN SIZE.—Loans guaranteed under this section may not exceed $ 35,000. (e) PURPOSE.—Loans guaranteed under this program shall be used to ma k e periodic payment of principal and interest, either in full or in part, on an existing qualifying small business loan for a period of time not to exceed 6 months. (f) LOAN TERMS.—Loans made under this section shall: (1) carry a 100 percent guaranty; and (2) have interest fully subsidi z ed for the period of repay- ment. (g) R EPAYMENT.—Repayment for loans made under this section shall— (1) be amortized over a period of time not to exceed 5 years; and (2) not begin until 12 months after the final disbursement of funds is made. (h) COLLATERAL.—The Administrator of the Small Business Administration may accept any available collateral, including subordinated liens, to secure loans made under this section. (i) F EES.—The Administrator of the Small Business Administra- tion is prohibited from charging any processing fees, origination fees, application fees, points, brokerage fees, bonus points, prepay- ment penalties, and other fees that could be charged to a loan applicant for loans under this section. (j) SUNSET.—The Administrator of the Small Business Adminis- tration shall not issue loan guarantees under this section after September 30, 2010. Ef f ectiv e da te .C e r tificati on .