Budget Amendment ID: FY2019-S4-751

ECO 751

Microlending

Messrs. deMacedo, Tarr, O'Connor and Tran moved that the proposed new text be amended 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 …………………. $100,000."