S 996
116th Congress
Senate
Commerce
Government lending and loan guarantees
Small business
Microloan Program Enhancement Act of 2019
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held.
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Apr 2, 2019
Introduced in Senate
Apr 2, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Plain-English summary
Microloan Program Enhancement Act of 2019
This bill expands access to financing through the Microloan Program of the Small Business Administration (SBA).
Specifically, the bill eliminates a restriction that prevents the SBA from distributing more than 1/55th of its funding in any state during the first half of the year. The bill also raises the cap on the total amount that may be committed to an intermediary to provide loans under the program. Lastly, the bill sets program levels for technical assistance grants and direct loans through FY2022.
What's happening now
Committee on Small Business and Entrepreneurship. Hearings held.
Committees of jurisdiction
1
Cosponsors
1