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.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Committee on Small Business and Entrepreneurship. Hearings held.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Committee on Small Business and Entrepreneurship. Hearings held.
Commerce
Government lending and loan guaranteesSmall business
Microloan Program Enhancement Act of 2019
USA116th CongressS-996| Senate
| Updated: 6/3/2020
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.