Bill > HR7109

This bill, titled the "Small Business Child Care Investment Act," aims to expand access to loan programs offered by the Small Business Administration (SBA) for nonprofit child care providers. Specifically, it amends the Small Business Act and the Small Business Investment Act of 1958 to allow organizations that meet certain criteria—including being licensed, tax-exempt under section 501(c)(3) of the Internal Revenue Code, primarily focused on caring for children from birth to school age, and adhering to size standards—to be considered eligible for SBA loans. These providers must also ensure their employees and volunteers undergo criminal background checks and certify they will not discriminate in their business practices. The bill clarifies that loans to these providers must be made in cooperation with other financial institutions, prohibiting the SBA from making direct loans or participating immediately. Additionally, loans over $500,000 will require a guarantee of timely payment from another entity. The SBA Administrator is also prohibited from denying eligibility based on an organization's association with entities protected by the First Amendment. Finally, the bill mandates that the SBA Administrator report annually to Congress on the number and amount of loans provided to these nonprofit child care providers.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/7109/all-info