Search Results for keywords:"7(a) loan program"

Search Results: keywords:"7(a) loan program"

H. R. 7242 — To amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act.
💰
February 05, 2024
Status:Introduced in House
Congress:118
Words:183
H.R. 7242 seeks to amend the Small Business Act to increase the maximum amount that can be borrowed under the 7(a) loan program. It proposes to raise this limit from $5 million to $10 million. The purpose of the bill is to provide greater financial support to small businesses...
Simple Explanation
H.R. 7242 is a plan to let small businesses borrow more money, up to $10 million instead of $5 million, which is meant to help them grow or fix problems, but people are worried it might lead to waste or not be fair to everyone.
S. 3992 — To prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes.
March 20, 2024
Status:Introduced in Senate
Congress:118
Words:312
S. 3992 is a bill that aims to stop the Administrator of the Small Business Administration (SBA) from making direct loans through the 7(a) loan program. This program is typically used to support small businesses in obtaining financing. The bill also specifies that the SBA...
Simple Explanation
The bill wants to stop a big helper, the Small Business Administration, from giving money directly to small businesses in one special way, but it will still take care of the ones they're already helping.

Showing 1 to 2 of 2 results