summary
Introduced
02/05/2024
02/05/2024
In Committee
02/05/2024
02/05/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act.
AI Summary
This bill, the "Loans in our Neighborhoods Act," aims to amend the Small Business Act by increasing the maximum gross loan amount for a loan made under Section 7(a) from $5,000,000 to $10,000,000. This change is intended to provide small businesses with greater access to larger loan amounts, potentially helping them grow and thrive in their local communities.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Referred to the House Committee on Small Business. (on 02/05/2024)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Small Business
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/7242/all-info | 02/06/2024 |
| BillText | https://www.congress.gov/118/bills/hr7242/BILLS-118hr7242ih.pdf | 02/09/2024 |
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