article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Small Business Access to Capital Act of 2009''. SEC. 2. SECTION 7(A) BUSINESS LOANS. Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended-- (1) in paragraph (2)(A)-- (A) in clause (i), by striking ``75 percent'' and inserting ``90 percent''; and (B) in clause (ii), by striking ``85 percent'' and inserting ``90 percent''; and (2) in paragraph (3)(A), by striking ``$1,500,000 (or if the gross loan amount would exceed $2,000,000'' and inserting ``$4,500,000 (or if the gross loan amount would exceed $5,000,000''. SEC. 3. LOW INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS LOAN PROGRAM. Section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by adding at the end the following: ``(C) Refinancing not involving expansions.-- ``(i) In general.--A project that does not involve the expansion of a small business concern may include the refinancing of existing indebtedness if-- ``(I) the amount of the financing is not more than 80 percent of the value of the collateral for the financing; ``(II) the small business concern has been in operation for all of the 2- year period ending on the date of the financing; ``(III) the existing indebtedness was not incurred during the 2-year period ending on the date of the financing; ``(IV) the existing indebtedness is not subject to a guarantee by any Federal agency; and ``(V) for a loan for which the Administrator determines there will be an additional cost for making a loan that includes the refinancing of the existing indebtedness, the borrower agrees to pay a fee in an amount equal to the anticipated additional cost. ``(ii) No job creation goals.--A financing may be approved under this subparagraph regardless of whether the project meets the job creation goals under subsection (d) or (e) of section 501.''. SEC. 4. MICROLOANS. (a) Marketing, Management, and Technical Assistance Grants.-- Section 7(m)(4) of the Small Business Act (15 U.S.C. 636(m)(4)) is amended-- (1) in subparagraph (A)-- (A) in the first sentence, by striking ``and subject to subparagraph (B)''; and (B) in the second sentence-- (i) by striking ``each intermediary meeting the requirements of subparagraph (B)'' and inserting ``an intermediary''; and (ii) by striking ``25 percent'' and inserting ``50 percent''; (2) by striking subparagraph (B); and (3) by striking subparagraph (C)(iii). (b) Microloan Amounts.--Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended-- (1) in paragraph (1)(B)(iii), by striking ``$35,000'' and inserting ``$50,000''; (2) in paragraph (3)(E), by striking ``$35,000'' each place it appears and inserting ``$50,000''; and (3) in paragraph (11)(B), by striking ``$35,000'' and inserting ``$50,000''. SEC. 5. MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM. Section 502(2)(A) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)) is amended-- (1) in clause (i), by striking ``$1,500,000'' and inserting ``$5,000,000''; (2) in clause (ii), by striking ``$2,000,000'' and inserting ``$5,000,000''; and (3) in clause (iii), by striking ``$4,000,000'' and inserting ``$5,500,000''. SEC. 6. NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS. Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following: ``(e) Investment Limitations.-- ``(1) Definition.--In this subsection, the term `covered New Markets Venture Capital company' means a New Markets Venture Capital company-- ``(A) granted final approval by the Administrator under section 354(e) on or after March 1, 2002; and ``(B) that has obtained a financing from the Administrator. ``(2) Limitation.--Except to the extent approved by the Administrator, a covered New Markets Venture Capital company may not acquire or issue commitments for securities under this title for any single enterprise in an aggregate amount equal to more than 10 percent of the sum of-- ``(A) the regulatory capital of the covered New Markets Venture Capital company; and ``(B) the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital.''. SEC. 7. EXTRAMURAL RESEARCH AND DEVELOPMENT BUDGET OF THE NATIONAL INSTITUTES OF HEALTH. Title VIII of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 176) is amended in the matter under the heading ``office of the director'' under the heading ``National Institutes of Health'' under the heading ``DEPARTMENT OF HEALTH AND HUMAN SERVICES'', by inserting after ``638(n)(1):'' the following: ``Provided further, That not later than September 30, 2010, of the amount appropriated under this heading, $150,000,000 shall be obligated to be expended with the programs of the National Institutes of Health described in the previous proviso:''. SEC. 8. BUSINESS STABILIZATION PROGRAM. Section 506(c) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 157) is amended by striking ``but shall not include'' and all that follows through ``enactment of this Act''. SEC. 9. PROSPECTIVE REPEALS. (a) Amendments.-- (1) Section 7(a) business loans.--Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended-- (A) in paragraph (2)(A)-- (i) in clause (i), by striking ``90 percent'' and inserting ``75 percent''; and (ii) in clause (ii), by striking ``90 percent'' and inserting ``85 percent''; and (B) in paragraph (3)(A), by striking ``$4,500,000'' and inserting ``$3,750,000''. (2) Low interest refinancing under the local development business loan program.--Section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C). (b) Effective Date.--The amendments made by this section shall take effect on October 1, 2010.
summary: Small Business Access to Capital Act of 2009 - Amends the Small Business Act to increase maximum loan amounts under the following Small Business Administration (SBA) programs: (1) the section 7(a) (general small business loans) loan program; (2) the Microloan (small-scale loans to start-up, newly-established, and growing small businesses) program; and (3) the section 504 (state and local development company) program. Amends provisions of the Small Business Investment Act of 1958 relating to the local development business loan program to allow a small business borrower under such program to refinance a previous business debt, under specified conditions. Applies single-business investment limits to SBA-recognized new markets venture capital companies. Amends the American Recovery and Reinvestment Act of 2009 to earmark certain Department of Health and Human Services (HHS) funds for specified programs of the National Institutes of Health. Repeals as of October 1, 2010: (1) the increase in section 7(a) loan amounts; and (2) the business debt refinancing authority under the local development business loan program.