Fair Access to Small Business Lending Act of 2023

3.0.0 1369 2025-01-14T17:16:56Z 2025-01-14T17:16:56Z Senate S S 2023-04-27 118 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred To 2023-04-27T19:03:50Z 2023-04-27 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2023-04-27 Introduced in Senate IntroReferral 10000 9 Library of Congress R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL N Commerce Commerce 2023-05-10T19:45:18Z

00 2023-04-27 Introduced in Senate 2023-10-16T20:19:16Z Fair Access to Small Business Lending Act of 2023 This bill requires the Small Business Administration (SBA) to carry out an initiative to expand the availability of 7(a) loans to small businesses that are located in low- or moderate-income neighborhoods. (Under the 7(a) Program, the SBA provides business loans and loan guaranties to small business borrowers unable to obtain financing elsewhere.) The SBA must expand authorization for providing 7(a) loans to lenders that meet the criteria to make such loans but have not otherwise been approved to do so. Such lenders must ensure that at least 50% of loans they make that are guaranteed pursuant to the bill are made to small businesses in low- or moderate-income neighborhoods.

Fair Access to Small Business Lending Act of 2023 Display Title 45 Fair Access to Small Business Lending Act of 2023 2024-07-24T15:22:28Z Short Title(s) as Introduced 101 Fair Access to Small Business Lending Act of 2023 2024-05-24T13:40:29Z Introduced in Senate IS Official Title as Introduced 6 A bill to expand access to capital in underserved markets by providing resources for the Small Business Administration to approve additional Non-Federally Regulated Lenders to make business loans guaranteed by the Small Business Administration to small business concerns in low-income and moderate-income neighborhoods. 2023-05-09T03:28:49Z Introduced in Senate IS Introduced in Senate 2023-04-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s1369is/xml/BILLS-118s1369is.xml 2023-04-27 Read twice and referred to the Committee on Small Business and Entrepreneurship. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.