James M. Talent: “the primary purpose of H.R. 2261 is to reauthorize the Small Business Administration [SBA] and the programs which that…”

“the primary purpose of H.R. 2261 is to reauthorize the Small Business Administration [SBA] and the programs which that agency manages by authority granted under the Small Business Act and the Small Business Investment Act through fiscal year 2000. The committee regularly authorizes these programs for a 3-year period, with the last reauthorization occurring in 1994 during the 103d Congress. The programs include the financial programs of the SBA: the 7(a) general business loan guarantee program, the Section 504 Certified Development Company program, the Microloan program and the Small Business Investment Company [SBIC] program. In addition, the bill will reauthorize the technical assistance and procurement programs of the SBA--the Service Core of Retired Executives [SCORES], the Women's Business Center program, the Small Business Development Center [SBDC] program, the Competitiveness Demonstration program, and other. This legislation also changes and improves various programs, specifically modifying the Section 504 Preferred Certified Lender Program [PCLP], the SBIC program, the Women's Business Center program, and the SBDC program. The programs of the Small Business Administration annually provide over $14 billion of financial assistance to over 100,000 small businesses all across the United States.”