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S 2690 117th Congress Senate Commerce

Expanding Access to Affordable Credit for Small Businesses Act

Introduced: August 10, 2021 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 10, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Aug 10, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

Expanding Access to Affordable Credit for Small Businesses Act

This bill establishes rules related to the authorization of lending institutions and other entities (including small business lending companies, non-federally regulated lenders, and non-depository lending institutions) to make loans under the 7(a) Program of the Small Business Administration (SBA). Under the 7(a) Program, the SBA provides business loans and loan guarantees to small business borrowers who cannot obtain credit elsewhere on reasonable terms and conditions.

Specifically, the SBA must ensure that these lending institutions and other entities (1) provide an independent audit that examines adherence to all applicable federal laws and regulations regarding anti-money laundering, counterterrorist financing, sanctions, and financial crimes; and (2) implement a compliance program that is designed to conform with relevant anti-money laundering laws and regulations.

What's happening now August 10, 2021

Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Related & companion bills 1
  • HR 6217 Related bill Expanding Access to Affordable Credit for Small Businesses Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Hickenlooper, John W.
Colorado · Aug 10, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2690: Expanding Access to Affordable Credit for Small Businesses Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-2690/
MLA
"S. 2690: Expanding Access to Affordable Credit for Small Businesses Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2690/.
Bluebook (legal)
S. 2690, 117th Cong. (2026), https://openamerica.io/bill/117-S-2690/.
Markdown link
[S. 2690: Expanding Access to Affordable Credit for Small Businesses Act](https://openamerica.io/bill/117-S-2690/)
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