Small Business Second­ary Market Improvements Act of 1984

The Public Law 98-352, enacted on July 10, 1984, amends the Small Business Act to improve the operation of the secondary market for loans guaranteed by the Small Business Administration. The law allows lenders to sell guaranteed loans and requires the Administration to develop procedures for facilitating and promoting secondary market operations. It also authorizes the Administration to issue trust certificates representing ownership of guaranteed loans and provides for a central registration system. The law requires the Administration to report on secondary market operations and assess small businesses' access to capital at reasonable rates and terms.