The "504 Program Risk Oversight Act" amends the Small Business Investment Act of 1958 to require the Administrator to conduct an annual risk analysis of the Administration's loan portfolio. The report to Congress must include analyses of program risk, industry concentration, and loan specifics, along with steps taken to mitigate risks, loan and enforcement action statistics, and definitions of terms used in the analysis. The Administrator must make the report publicly available on the Administration's website within 7 days of submission to Congress.
504 Program Risk Oversight Act
This bill requires the Small Business Administration (SBA) to annually conduct a risk analysis of all loans guaranteed under the 504 loan program.
The 504 loan program provides long-term, fixed-rate financing to qualifying small businesses for major fixed assets, such as land, buildings, equipment, and machinery.
The SBA must annually report the results of the risk analysis for each preceding fiscal year, including the steps taken by the SBA to mitigate the risks identified in the analysis.