summary
Introduced
04/10/2025
04/10/2025
In Committee
04/10/2025
04/10/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To amend the Small Business Investment Act of 1958 to increase the maximum loan amount for certain loans.
AI Summary
This bill amends the Small Business Investment Act of 1958 to increase the maximum loan amount for certain small business loans from $5.5 million to $10 million. Specifically, the bill modifies two clauses in Section 502(2)(A) of the Act, effectively doubling the loan ceiling for businesses. Additionally, the bill requires the Administrator of the Small Business Administration (SBA) to submit an annual report to Congress detailing the industries and geographic areas where these expanded loans have been made. The purpose of this legislation appears to be providing small businesses, particularly those in the energy sector, with greater access to capital by increasing the maximum loan amount. The annual reporting requirement ensures transparency and allows Congress to track the implementation and impact of these loan expansions.
Committee Categories
Business and Industry
Sponsors (37)
Jason Crow (D)*,
Don Bacon (R),
Joyce Beatty (D),
André Carson (D),
Ed Case (D),
Sean Casten (D),
Kathy Castor (D),
Angie Craig (D),
Sharice Davids (D),
Don Davis (D),
Dwight Evans (D),
Brian Fitzpatrick (R),
Bill Foster (D),
Andrew Garbarino (R),
Chrissy Houlahan (D),
Julie Johnson (D),
Young Kim (R),
Greg Landsman (D),
George Latimer (D),
Ted Lieu (D),
Joe Morelle (D),
Kevin Mullin (D),
Eleanor Holmes Norton (D),
Jay Obernolte (R),
Jimmy Panetta (D),
Scott Peters (D),
Brittany Pettersen (D),
Josh Riley (D),
Deborah Ross (D),
Andrea Salinas (D),
Brad Schneider (D),
Hillary Scholten (D),
Kim Schrier (D),
Adam Smith (D),
Tom Suozzi (D),
Jill Tokuda (D),
Marc Veasey (D),
Last Action
Referred to the House Committee on Small Business. (on 04/10/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/2831/all-info |
| BillText | https://www.congress.gov/119/bills/hr2831/BILLS-119hr2831ih.pdf |
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