PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Small Business.
Congressional Research Service
Version 00 · Introduced in House · Jun 30, 1994
Premier Lenders Program Authorization Act of 1994 - Amends the Small Business Investment Act of 1958 to authorize the Small Business Administration (SBA) to establish a Premier Lenders Program for certified development companies which meet requirements under this Act. Authorizes the SBA to designate a participant in an accelerated lenders program as a premier lender if such company: (1) has been an active participant in the accelerated lenders program for at least the last 12 months (waives such requirement if, prior to January 1, 1996, the applicant is qualified to participate in the program); (2) has a history of submitting adequately analyzed debenture guaranty application packages to the SBA; and (3) agrees to assume and reimburse the SBA for five percent of any loss sustained on account of default by the company in the payment on a debenture issued by the company and guaranteed by the SBA. Requires certified development companies, upon approval of an applicant as a premier lender, to establish a loss reserve in an amount equal to the anticipated losses to the company based on the historic loss rate on debentures or three percent of the aggregate principal amount of debentures issued by the company, whichever is greater. Authorizes the SBA, upon designation of a company as a premier lender, to permit a lender to approve loans to be funded with the proceeds of and to authorize the guaranty of a debenture issued by such company. Suspends or revokes designations of State or local development companies as premier lenders for failures to meet this Act's requirements or SBA regulations.
People & committees
Rep. LaFalce, John J. [D-NY-29] · D–NY
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the House Committee on Small Business.
Sponsor introductory remarks on measure. (CR E1390-1391)
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.4685 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.4685 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.4685 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.4685 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.