PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Small Business.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 23, 1994
Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish an Accredited Lenders Program which designates a State or local development company as an accredited lender if it demonstrates: (1) adequate knowledge of the SBA guaranteed loan program; and (2) proficiency in meeting the requirements of such program and any other applicable requirements. Authorizes the Administrator to expedite the processing of any loan application or servicing action submitted by a development company so designated. Suspends or revokes such designation upon certain determinations by the Administrator. Amends the Small Business Act to direct the Administrator to establish an Accredited Loan Packagers Pilot Program under which loan packagers shall be designated as accredited loan packagers upon meeting certain requirements with respect to loan packaging under the SBA guaranteed loan program. Requires at least ten but no more than 15 loan packagers to be so designated. Authorizes the Administrator, during a three-year period, to expedite the processing of any loan application or servicing action prepared by a loan packager so designated. Suspends or revokes such designation upon certain determinations by the Administrator.
People & committees
Sen. Wellstone, Paul D. [D-MN] · D–MN
Legislative record
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Read twice and referred to the Committee on Small Business.
Sponsor introductory remarks on measure. (CR S7579-7580)
Introduced in Senate
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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