Amendment #509 to H3400

Community Development Microlending Grants

Representatives DiNatale of Fitchburg, Rosa of Leominster, Mirra of West Newbury and Zlotnik of Gardner 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 $100,000 which shall 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, and 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 Massachusetts region for these purposes…… $300,000”.

Additional co-sponsor(s) added to Amendment #509 to H3400

Community Development Microlending Grants