Page:United States Statutes at Large Volume 124.djvu/2540

 124 STAT. 2514 PUBLIC LAW 111–240—SEPT. 27, 2010 ‘‘(B) MAXIMUM LOAN.—An eligible intermediary may not make a loan under this subsection of more than $200,000 to any 1 small business concern. ‘‘(C) APPLICABLE INTEREST RATES.—A loan made by an eligible intermediary to a small business concern under this subsection, may have a fixed or a variable interest rate, and shall bear an interest rate specified by the eligible intermediary in the application of the eligible intermediary for a loan under this subsection. ‘‘(D) REVIEW RESTRICTIONS.—The Administrator may not review individual loans made by an eligible inter- mediary to a small business concern before approval of the loan by the eligible intermediary. ‘‘(6) TERMINATION.—The authority of the Administrator to make loans under the Program shall terminate 3 years after the date of enactment of the Small Business Job Creation and Access to Capital Act of 2010.’’. (b) RULEMAKING AUTHORITY.—Not later than 180 days after the date of enactment of this Act, the Administrator shall issue regulations to carry out section 7(l) of the Small Business Act, as amended by subsection (a). (c) AVAILABILITY OF FUNDS.—Any amounts provided to the Administrator for the purposes of carrying out section 7(l) of the Small Business Act, as amended by subsection (a), shall remain available until expended. SEC. 1132. PUBLIC POLICY GOALS. Section 501(d)(3) of the Small Business Investment Act of 1958 (15 U.S.C. 695(d)(3)) is amended— (1) in subparagraph (J), by striking ‘‘or’’ at the end; (2) in subparagraph (K), by striking the period at the end and inserting ‘‘, or’’; and (3) by adding at the end the following: ‘‘(L) reduction of rates of unemployment in labor sur- plus areas, as such areas are determined by the Secretary of Labor.’’. SEC. 1133. FLOOR PLAN PILOT PROGRAM EXTENSION. (a) IN GENERAL.—Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) by redesignating paragraph (32), relating to increased veteran participation, as added by section 208 of the Military Reservist and Veteran Small Business Reauthorization and Opportunity Act of 2008 (Public Law 110–186; 122 Stat. 631), as paragraph (33); and (2) by adding at the end the following: ‘‘(34) FLOOR PLAN FINANCING PROGRAM.— ‘‘(A) DEFINITION.—In this paragraph, the term ‘eligible retail good’— ‘‘(i) means a good for which a title may be obtained under State law; and ‘‘(ii) includes an automobile, recreational vehicle, boat, and manufactured home. ‘‘(B) PROGRAM.—The Administrator may guarantee the timely payment of an open-end extension of credit to a small business concern, the proceeds of which may be used for the purchase of eligible retail goods for resale. 15 USC 636 note. Deadline. 15 USC 636 note.