H.R.5272

            

116th CONGRESS
1st Session
H. R. 5272

To amend the Small Business Act to require lenders to refer certain borrowers to a small business development center, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
November 26, 2019
Ms.  Sánchez (for herself, Mr.  Ted Lieu of California, Mr.  Lowenthal, Mrs.  Torres of California, Ms.  Roybal-Allard, Mr.  Cox of California, and Mr.  Cisneros) introduced the following bill; which was referred to the Committee on Small Business
A BILL
To amend the Small Business Act to require lenders to refer certain borrowers to a small business development center, and for other purposes.
 Be it enacted by the Senate and House of Representatives of the
		United States of America in Congress assembled, 
 SECTION 1.  Short title.
This Act may be cited as the “Supporting Entrepreneurs and Economic Development Act” or the “SEED Act”. 
 SEC. 2. Small business development center referrals.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following new paragraph:
 
“(36) SMALL BUSINESS DEVELOPMENT CENTER REFERRALS.—If a lender determines that a borrower is not eligible for a loan under this subsection, such lender shall refer the borrower to a small business development center. Such referral shall include— 
“(A) the address, phone number, and website (if available) of such center; and
 
“(B) a description of the services offered by such center.”.