S 996
Microloan Program Enhancement Act of 2019
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- Passed Senate
- Passed House
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- Became Law
Bill overview
The Microloan Program Enhancement Act of 2019 aims to improve the Small Business Administration’s (SBA) microloan program by increasing funding and expanding access to financing for small businesses. Specifically, the bill raises the maximum amount the SBA can allocate to intermediaries, increases grant amounts based on loan balances, and sets specific funding levels for technical assistance grants and direct loans through fiscal year 2022. It also modifies reporting requirements to track the success of the program.
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