Supporting Trade and Rebuilding Opportunity for National Growth Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Supporting Trade and Rebuilding Opportunity for National Growth Act, aims to increase the maximum loan amounts available to small businesses through the Small Business Act and the Small Business Investment Act. Specifically, it raises the maximum loan amount for 7(a) loans and development company loans. These changes are intended to provide small businesses with greater access to capital for growth and expansion.
Key provisions
- Increases the maximum loan amount for 7(a) loans to $7,500,000 (or $10,000,000 if the gross loan amount exceeds $10,000,000).
- Increases the maximum loan amount for development company loans to $10,000,000.
- Modifies sections of the Small Business Act and the Small Business Investment Act to reflect these changes.
Who is affected
- Small Businesses
- Small Business Owners
- Lenders
- Development Companies
Notable changes
- Raises the maximum loan amounts for both 7(a) and development company loans.
- Adjusts the loan amount limits based on the gross loan amount.
Bill text
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Sponsors
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26 on record
Primary sponsor
Cosponsors
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