Amendments will speed up the establishment of the Renewable Energy Capital Investment Program and increase the certainty that banks will get paid on loans

Congressman Aaron Schock (R-IL) offered two amendments today to H.R. 3854, the Small Business Financing and Investment Act, which passed the House unanimously.

The first Schock amendment will require quarterly progress reports from the Small Business Administration (SBA) Administrator to Congress regarding the newly overhauled Renewable Energy Capital Investment Program until such a time that the program is up and running.

The second amendment offered by Congressman Schock will require the SBA Administrator to pay on claims for any lender who can show they followed the prescribed training in the National Lender Training Program. If the SBA refuses to pay they must have clear and convincing evidence that the lender failed to follow such training.