HR 7740
MICRO Business Success Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act, aims to provide increased support to small businesses with 10 or fewer employees. It reallocates $20 billion from the Paycheck Protection Program to these businesses and raises the maximum loan amount available to $10 million. The bill also expands the list of economic development objectives that Small Business Development Companies (SBDCs) must prioritize, and requires them to offer specific assistance to these small businesses, including financial and business management advice.
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Primary sponsor
Steve Chabot
Cosponsor
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