Amendment #182 to H4400

Microlending Grants

Representatives Haddad of Somerset and Vega of Holyoke move to amend the bill, in section 2, in item 7007-0801, in lines 1-8, by striking out the following: "For microlending grants of not more than $100,000 that 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 organizations’ lending and technical assistance activities" and inserting in place thereof the following: "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 organizations’ lending and technical assistance activities, and provided further that the funds shall be allocated to SEED Corporation and Common Capital for these purposes"; and in said item by striking out the figures "$100,000" and inserting in place thereof the figures "$200,000".

Additional co-sponsor(s) added to Amendment #182 to H4400

Microlending Grants