HR 5568
Funding Small Businesses During Shutdown Act
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Bill overview
This bill aims to protect small businesses by providing funding to continue servicing existing loans from the Small Business Administration (SBA) if the federal government shuts down and discretionary appropriations lapse. Specifically, it allocates funds to cover salaries and expenses related to servicing loans under several SBA programs. The funding is provided on a 30-day basis, or pro-rated if a shutdown is shorter than 30 days, ensuring continued support for these loans during a shutdown.
Key provisions
- Provides appropriations to continue servicing SBA loans during a government shutdown.
- Allocates $500,000 for loans under section (m) of the Small Business Act.
- Allocates $2,916,666,667 for loans under section (a) of the Small Business Act.
- Allocates $1,250,000,000 for loans under the Small Business Investment Act of 1958.
- Provides $13,775,000 for administrative expenses related to loan servicing.
Who is affected
- Small Businesses
- Small Business Administration (SBA)
- Loan Borrowers
Notable changes
- Guarantees continued loan servicing during a government shutdown.
- Provides specific funding amounts for different SBA loan programs.
Fiscal impact
The bill provides specific appropriations for salaries and expenses related to loan servicing, impacting the SBA's budget.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Herbert C. Conaway
Cosponsors
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119th CONGRESS — 1st Session
H. R. 5568
IN THE HOUSE OF REPRESENTATIVES
A BILL
To ensure continued appropriations for certain Small Business Administration programs during a Government shutdown, and for other purposes.
This Act may be cited as the Funding Small Businesses During Shutdown Act
.
There are appropriated for fiscal year 2026, out of any money in the Treasury not otherwise appropriated, during any period of a lapse in discretionary appropriations with respect to the Small Business Administration during such fiscal year beginning on or after the date of the enactment of this section, for any 30-day period of such lapse (and on a pro-rated basis if such lapse is less than 30 days) to pay for the salaries and expenses necessary to continue servicing any loans made under—
$500,000 for loans made under subsection (m) of section 7 of the Small Business Act (15 U.S.C. 636(m));