Bill > HR6600

This bill requires the Comptroller General (the head of the Government Accountability Office) to conduct a comprehensive study on the disbursement process for small business loans, specifically focusing on regions that include part of the Appalachian region. The study will examine loan application and funding processes from 2021 to 2024, analyzing metrics such as the average time between loan application and fund disbursement, the number of loans disbursed and approved relative to the total number of small businesses in each region, and the average loan dollar amounts. The Comptroller General must provide an interim briefing to Congress within one year and submit a full report within two years, which will include recommendations for improving the small business loan process. These recommendations aim to increase loan accessibility, reduce processing times, improve applicant communication about application status, and identify internal government inefficiencies in loan processing. The bill specifically excludes loans made during the COVID-19 pandemic and defines key terms like "small business concern" and "small business loan" using existing legal definitions from the Small Business Act.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/6600/all-info