Amendment #787 to H4100

Microlending Grants

Representatives Kane of Holyoke, Puppolo of Springfield, Scibak of South Hadley, Humason of Westfield, Kocot of Northampton, Andrews of Orange, Mark of Hancock, Coakley-Rivera of Springfield, Finn of West Springfield, Farley-Bouvier of Pittsfield and Cabral of New Bedford move to amend the bill in section 2 by inserting after item 7007-0800 the following item:

“7007-0801  For microlending grants of up to $200,000, to be issued to established Community Development Financial Institutions and Community Advantage Lenders making direct microenterprise and small business loans to borrowers on a regional basis, as well as providing technical assistance to applicants and borrowers in order to foster business establishment and success, provided that the funds will be used to support eligible organization’s lending and technical assistance activities……………………..$400,000”.