To encourage initiatives for financial products and services that are appropriate and accessible for millions of American small businesses that do not have access to the financial mainstream.

United States115th CongressHR-1833House of Representatives
Updated: Mar 30, 2017

Summary

Investing in America's Small Businesses Act of 2017 This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions for: (1) the establishment of loan-loss reserve funds to defray the costs of small business lending, and (2) related technical assistance. A community development financial institution must provide nonfederal matching funds equal to 50% of the amount of any grant received. A grantee may not use grant funds to make direct loans to small businesses.

Bill texts

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Introduced (House)View official text

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Timeline

  1. Sponsor introductory remarks on measure. (CR E418)

  2. Referred to the House Committee on Financial Services.

    House of Representatives

  3. Introduced in House

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