Budget Amendment ID: FY2013-S4-220

ECO 220

Micro-lending Grants

Messrs. Rodrigues, Pacheco and Knapik moved that the proposed new text be amended in section 2, by inserting, after item 7007-0800, the following new item:-

7007-0801  “For micro lending 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”