Amendment #1493 to H4700

Rural Microlending

Representatives Blais of Sunderland, Whipps of Athol and Mark of Peru moves to amend the bill in section 2, in item 7007-0801, by striking out the words "For microlending grants, which shall be issued to established United States Treasury-certified community development financial institutions and United States Small Business Administration microlenders 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 later than February 15, 2023, the Massachusetts office of business development shall file a report with the house and senate committees on ways and means identifying the: (a) United States Treasury-certified community development financial institutions receiving grant issuances; (b) names and loan amounts of each business receiving grant funds from the lending institution; (c) federal dollar match received as a result of making the loan; (d) number of jobs created through the business loans; and (e) number of failed loans." and inserting in place thereof "For microlending grants, which shall be issued to established United States Treasury-certified community development financial institutions, state-certified community development corporations under M.G.L. Chapter 40H, or United States Small Business Administration microlenders 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 later than February 15, 2023, the Massachusetts office of business development shall file a report with the house and senate committees on ways and means identifying the: (a) organizations receiving grant issuances; (b) names and loan amounts of each business receiving grant funds from the lending institution; (c) federal dollar match received as a result of making the loan; (d) number of jobs created through the business loans; and (e) number of failed loans."

Additional co-sponsor(s) added to Amendment #1493 to H4700

Rural Microlending