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Microloan Program Enhancement Act of 2019

USA116th CongressS-996| Senate 
| Updated: 6/3/2020
Tammy Duckworth

Tammy Duckworth

Democratic Senator

Illinois

Cosponsors (1)
Richard J. Durbin (Democratic)

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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
Apr 2, 2019
Introduced in Senate
Apr 2, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held.
  • April 2, 2019
    Introduced in Senate


  • April 2, 2019
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • June 3, 2020
    Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.


  • June 3, 2020
    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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 2, 2019
Introduced in Senate
Apr 2, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Jun 3, 2020
Committee on Small Business and Entrepreneurship. Hearings held.
  • April 2, 2019
    Introduced in Senate


  • April 2, 2019
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • June 3, 2020
    Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.


  • June 3, 2020
    Committee on Small Business and Entrepreneurship. Hearings held.
Tammy Duckworth

Tammy Duckworth

Democratic Senator

Illinois

Cosponsors (1)
Richard J. Durbin (Democratic)

Small Business and Entrepreneurship Committee

Commerce

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Government lending and loan guaranteesSmall business