; (2) by striking Notwithstanding and inserting the following: (i) In general Notwithstanding ; and (3) by adding at the end the following: (ii) Exception for certain Puerto Rico businesses (I) In general No loan shall be made under this subsection if the total amount outstanding and committed to 1 covered intermediary (excluding outstanding grants) from the business loan and investment fund established by this Act would, as a result of such loan, exceed $6,000,000 in the remaining years of the covered intermediary's participation in the program. (II) Definition In this clause, the term covered intermediary means an intermediary that— (aa) is participating in the program; and (bb) submits to the Administrator a certification that not less than 20 percent of the microloans made by the intermediary under this subsection, during such period as the Administrator may specify, will be made to Puerto Rico businesses. . (b) Waiver of 25/75 rule for microloans to Puerto Rico small business concerns Section 7(m)(4)(E) of the Small Business Act ( 15 U.S.C. 636(m)(4)(E) ) is amended— (1) in clause (i), by striking Each and inserting Except as provided in clause (iii), each ; and (2) by adding at the end the following: (iii) Exception for certain intermediaries The Administrator shall waive the requirements of clause (i) for an intermediary for which not less than 25 percent of the loans made by the intermediary are made to Puerto Rico businesses. . (c) SBA study Not later than 1 year after the date of enactment of this Act, the Administrator shall conduct a study and submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the following: (1) The operations (including services provided, structure, size, and area of operation) of a representative sample of— (A) intermediaries that are eligible for participation in the microloan program and that participate in the microloan program