Budget Amendment ID: FY2018-S3-669

ECO 669

Microlending

Messrs. deMacedo and Eldridge, Ms. Gobi, Messrs. Humason and Tarr, Ms. Flanagan and Mr. Lesser moved that the proposed new text be amended in section 2, by adding the following new line item: "7007-0801 For micro lending 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 .... $100,000"