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H.R. 3496 · House bill · 119th Congress
This bill expands eligibility for the Small Business Administration microloan program to include entities in the Commonwealth of the Northern Mariana Islands.
The microloan program provides loans up to $50,000 for small businesses and certain nonprofit childcare centers.
This Act may be cited as the “Northern Mariana Islands Small Business Access Act”.
(a) In general.— Section 7(m)(7)(B) of the Small Business Act (15 U.S.C. 636(m)(7)(B)) is amended—
(1) by inserting “, the Commonwealth of the Northern Mariana Islands” after “Guam” each place it appears; and
(2) in clause (i)(I)(bb), by striking “1/55” and inserting “1/56”.
(b) Technical amendment.— Section 7(m)(11)(C)(ii) of the Small Business Act (15 U.S.C. 636(m)(11)(C)(ii)) is amended by striking “rural” and all that follows through the end of the clause and inserting “rural; and”.