Search Results: keywords:"maximum loan amount increase"

  • 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.
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    Status:Introduced in House
    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.

  • H. R. 9176 — To amend the Small Business Act to increase the maximum loan amount for a loan made under section 7(a) of such Act.
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    Status:Introduced in House
    Words:227

    H. R. 9176, known as the "Loans In Our Neighborhoods Act of 2024" or the "LIONs Act of 2024," seeks to amend the Small Business Act. The proposed amendment aims to increase the maximum loan amount for loans made under section 7(a) of this Act. Specifically, it would raise the limit from...

    Simple Explanation

    The LIONs Act of 2024 is a plan to let small businesses borrow more money from a special loan program, increasing the amount they can borrow from $3.75 million to $7.5 million, but people are worried it might help bigger businesses more than smaller ones.