To permit the use of previously appropriated funds to extend the Small Business Loan Guarantee Program, and for other purposes.
Latest Action
Became Public Law No: 111-150.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™This bill, enacted as Public Law No: 111-150, authorizes the use of previously appropriated funds to extend the Small Business Loan Guarantee Program. The program aims to support small businesses by providing loan guarantees, thereby facilitating access to capital. The bill does not include a detailed summary or full text in the provided data, but its primary purpose is to continue funding for this federal program under the existing appropriation framework.
The law extends funding for the Small Business Loan Guarantee Program using funds already appropriated, supporting small business financing without requiring new appropriations.
- Allows use of previously appropriated funds to extend the Small Business Loan Guarantee Program.
- Supports small businesses by facilitating loan guarantees to improve access to capital.
- Became law on March 26, 2010, during the 111th Congress.
['Small businesses seeking loan guarantees', 'Financial institutions participating in the loan guarantee program', 'Federal agencies administering the Small Business Loan Guarantee Program']
["The bill relies on previously appropriated funds, which may limit the program's scale or duration based on available balances.", 'Lack of detailed oversight or reporting requirements in the provided data may affect transparency of fund usage.', 'No information on cost implications or budgetary impact beyond existing appropriations.']
The bill was introduced and passed during the 111th Congress and signed into law in 2010. It reflects legislative efforts to support small businesses during a period of economic recovery by extending existing federal loan guarantee programs without new appropriations.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Continued availability of loan guarantees may encourage small business growth and economic activity.', 'Financial institutions may increase lending to small businesses due to reduced risk from guarantees.', 'Potential budgetary impacts if previously appropriated funds are insufficient, possibly affecting other programs.']
The absence of a detailed bill summary and full text limits comprehensive analysis. Transparency would be improved by including explicit oversight and reporting requirements to ensure accountability in the use of appropriated funds. Monitoring the sufficiency of previously appropriated funds is important to assess the program's ongoing effectiveness.
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