An amendment numbered 8 printed in Part B of House Report 111-317 to give the SBA Administrator authority under the 7(a) program to guarantee 100 percent of loans made to veteran owned small businesses.

1. Adds SEC. 124. 100 PERCENT GUARANTEE FOR SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY VETERANS on page 32, line 7

   Adds a sectionPrinted page

   Inserted: SEC. 124. 100 PERCENT GUARANTEE FOR SMALL BUSINESS CONCERNS OWNED AND CONTROLLED BY VETERANS.

   Inserted: Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as amended by this Act, is further amended--

   Inserted: (1) in paragraph (3)(A) by striking the semicolon at the end and inserting the following: "or in paragraph (42);"; and

   Inserted: (2) by adding at the end the following:

   Inserted: "(42) 100 percent guarantee for small business concerns owned and controlled by veterans.--Notwithstanding paragraph (2), in an agreement to participate in a loan on a deferred basis under this subsection with respect to a small business concern owned and controlled by veterans, participation by the Administrator may be equal to 100 percent. The total amount outstanding and committed (by participation or otherwise) with respect to a loan to such a small business concern from the business loan and investment fund established by this Act may not exceed $3,000,000.".

   Original wording

   Page 32, after line 7, insert the following (and redesignate succeeding sections accordingly):

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As printed