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

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Plain-English summary Congressional Research Service

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 June 7, 2022

Referred to the House Committee on Small Business.

Bill text 1 version