Bill > HR9176

This bill, titled the "Loans In Our Neighborhoods Act of 2024" or the "LIONs Act of 2024," proposes to amend the Small Business Act by increasing the maximum loan amount for a loan made under Section 7(a) of the Act from $3,750,000 (or if the gross loan amount would exceed $5,000,000) to $7,500,000 (or if the gross loan amount would exceed $10,000,000). This change aims to provide small businesses with greater access to larger loan amounts, potentially enabling them to secure more substantial funding for their operations and growth within their local communities.