Amending Small Business Act to Make Improvements in General Business Loan Pro- Gram

of fees, we can ensure the solvency of the program. We also have a responsibility to make the 504 program more efficient. Under the Premier Certified Lender Program, specific experienced CDC’s are granted the authority to approve debentures without SBA involvement. In return, the lenders agree to reimburse the SBA 10% of any loss on a debenture guaranteed by the SBA. By making the Premier Certified Lender Program permanent, the 504 program will be more efficient. The 504 loan program must properly serve the borrower. The current loan liquidation program has been successful in ensuring that the 504 program works for borrowers. Loan liquidation is the most expensive portion of the 504 program. Through the involvement of the CDC, which has resulted in a higher response rate, the overall costs are lowered for the program. By lowering the cost of the program, businesses will have access to reduced rates on loans, which will lower expenses to small businesses. H.R. 2614 is good for borrowers and small businesses and is therefore good for our economy. We should vote in favor of H.R. 2614 and expand opportunities for small business owners. Mrs. KELLY. Mr. Speaker, I have no further requests for time, and I yield back the balance of my time. Ms. VELÁZQUEZ. Mr. Speaker, I have no further requests for time, and I yield back the balance of my time. The SPEAKER pro tempore (Mr. MILLER of Florida). The question is on the motion offered by the gentlewoman from New York (Mrs. KELLY) that the House suspend the rules and pass the bill, H.R. 2614. The question was taken; and (twothirds having voted in favor thereof) the rules were suspended and the bill was passed. A motion to reconsider was laid on the table.