Budget Amendment ID: FY2015-S4-449

ECO 449

Microlending Grants

Mr. Eldridge, Ms. Flanagan and Mr. Joyce moved that the proposed new text be amended in section 2, moved that the bill be amended in section 2,  by inserting after item 7007-0800 the following item:-

“7007-0801 For microlending grants of up to $100,000 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 shall be used to support the eligible organization’s lending and technical assistance activities and, provided further, that not less than $100,000 shall be granted to the North Central MA region for these purposes ……………………………..$300,000”