legislation: 111-hr-5445

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
111-hr-5445 111 hr 5445 Incentives for Successful Small Businesses Act of 2010 Commerce 2010-05-27 2010-05-27 Referred to the House Committee on Financial Services. House Rep. Perlmutter, Ed [D-CO-7] CO D P000593 1 Incentives for Successful Small Businesses Act of 2010 - Directs the Secretary of the Treasury to establish: (1) criteria for a long-term U.S. growth plan for any company or enterprise seeking incentives under this Act, as well as for U.S. expansion plans of successful small businesses that would qualify for such incentives; (2) procedures for loan guarantee and interest rate subsidy programs; and (3) a program to disseminate information rapidly about such programs and procedures. Directs the Secretary to establish a five-year program to provide guarantees of up to 80% of the principal of any loan which banks and lenders make at the lowest collateralized rate available to any successful small business to facilitate its U.S. expansion plans. Directs the Secretary to establish a five-year interest rate subsidy program to pay one percentage point of interest on any such loan to the extent the loan's annual percentage rate (APR) does not exceed the lowest collateralized rate available, minus the rate paid by the Secretary. 2023-01-11T13:20:06Z  

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