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”