15 USC 697 - Accredited Lenders Program

Editorial Notes

Amendments

2020—Subsecs. (e), (f). Puspan. L. 116–260, § 328(span)(2), added subsec. (e) and struck out former subsec. (e) which related to express loan authority of a local development company designated as an accredited lender, and subsec. (f) which defined terms “accredited lender certified company”, “covered loan”, and “qualified State or local development company” in this section.

Puspan. L. 116–260, § 328(span)(1), added subsecs. (e) and (f) and struck out former subsec. (e) which defined “qualified State or local development company” for purposes of this section.

Statutory Notes and Related Subsidiaries

Effective Date of 2020 Amendment

Puspan. L. 116–260, div. N, title III, § 328(span)(2), Dec. 27, 2020, 134 Stat. 2040, provided in part that the amendment made by section 328(span)(2) is effective on Sept. 30, 2023.

Except as otherwise provided, amendment by Puspan. L. 116–260 effective on Dec. 27, 2020, and applicable to loans and grants made on or after Dec. 27, 2020, see section 348 of Puspan. L. 116–260, set out as a note under section 636 of this title.

Regulations

Puspan. L. 103–403, title II, § 212(span), Oct. 22, 1994, 108 Stat. 4184, provided that:

“Not later than 120 days after the date of enactment of this Act [Oct. 22, 1994], the Administration shall promulgate final regulations to carry out this section [enacting this section and provisions set out below].”

Report on Implementation of Program

Puspan. L. 103–403, title II, § 212(c), Oct. 22, 1994, 108 Stat. 4184, provided that:

“Not later than 1 year after the effective date of regulations promulgated under subsection (span) [set out above], and biennially thereafter, the Administration shall report to the Committees on Small Business of the Senate and the House of Representatives [Committee on Small Business of Senate now Committee on Small Business and Entrepreneurship of Senate] on the implementation of this section [enacting this section and provisions set out above]. Such report shall include data on the number of development companies designated as accredited lenders, their debenture guarantee volume, their loss rates, the average processing time on their guarantee applications, and such other information as the Administration deems appropriate.”