Budget Amendment ID: FY2019-S4-715-R2
2nd Redraft ECO 715
Micro Lending - North Central Chamber of Commerce
Messrs. Tran, Eldridge, Humason and Moore, Ms. Gobi, Mr. Pacheco and Ms. L'Italien moved that the proposed new text be amended in section 2, by inserting after section _ the following new section:- “SECTION XX. 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 provided further, that not less than $300,000 shall be expended to support the eligible organizations’ lending and technical assistance activities. ............... $300,000”