HR 7971
117th Congress
House
Commerce
SEED Act
Introduced: June 7, 2022
Introduced by:
Sánchez, Linda T.
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 2022
Referred to the House Committee on Small Business.
Jun 7, 2022
Introduced in House
Plain-English summary
Supporting Entrepreneurs and Economic Development Act or the SEED Act
This bill requires lenders to refer applicants for certain small business loans to a resource partner if the applicant is determined ineligible for a loan under the program. Resource partners, such as small business development centers, provide informational tools and training to support business start-ups and existing business expansion.
Lenders and the Small Business Administration must report on the number of resource partner referrals and the Government Accountability Office must periodically report on the rate of such referrals.
What's happening now
Referred to the House Committee on Small Business.
Committees of jurisdiction
1