PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on SBA Legislation and the General Economy.
Congressional Research Service
Version 00 · Introduced in House · May 17, 1993
Small Business 503 Loan Refinancing Assistance Act of 1993 - Amends the Small Business Investment Act of 1958 to permit a qualified State or local development company that issues a debenture purchased by the Federal Financing Bank (Bank) and guaranteed by the Small Business Administration (SBA), at the election of the small business borrower whose loan secures such debenture, to: (1) continue to make payments under the original debenture terms; (2) make payments at an adjusted interest rate; or (3) prepay the debenture to the Bank by paying the unpaid principal balance and the amount of the repurchase premium (determined under this Act). Prohibits any fees or penalties other than those specified in this Act from being imposed against the issuer, borrower, or the SBA as a condition for adjusting the interest rate or prepayment.
People & committees
Rep. Machtley, Ronald K. [R-RI-1] · R–RI
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on SBA Legislation and the General Economy.
Referred to the House Committee on Small Business.
Sponsor introductory remarks on measure. (CR E1259)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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