03-S822 on Apr 8, 2003

A bill to create a 3-year pilot program that makes small, non-profit child care businesses eligible for SBA 504 loans. Amends the Small Business Investment Act of 1958 to allow the proceeds of loans made through the Small Business Administration (SBA) to local development companies for plant acquisition, construction, or expansion to be used to assist small, nonprofit child care businesses, provided that: (1) the loan will be used for a sound business purpose approved by the SBA; and (2) each business receiving the assistance meets eligibility requirements applicable to for-profit businesses.