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Small Business Access to Capital Act of 2020
2/8/2022, 11:23 PM
Congressional Summary of S 3551
Small Business Access to Capital Act of 2020
This bill reauthorizes for an additional eight years the State Small Business Credit Initiative.
The initative assists participating states in providing collateral financial support to, and other innovative credit access and guarantee initiatives for, small businesses and manufacturers.
The bill prescribes allocations of federal funds to participating states, and it authorizes the Department of the Treasury to award up to $2 billion in two tranches (portions), according to specified criteria, for participating states to (1) make federal contributions to an approved state program, or (2) use as collateral for a qualifying loan or swap funding facility.
Read the Full Bill
Current Status of Bill S 3551
Bill S 3551 is currently in the status of Bill Introduced since March 20, 2020. Bill S 3551 was introduced during Congress 116 and was introduced to the Senate on March 20, 2020. Bill S 3551's most recent activity was Read twice and referred to the Committee on Small Business and Entrepreneurship. as of March 20, 2020
Bipartisan Support of Bill S 3551
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
5Democrat Cosponsors
5Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3551
Primary Policy Focus
CommercePotential Impact Areas
- Appropriations
- Business investment and capital
- Credit and credit markets
- Government lending and loan guarantees
- Manufacturing
- Small business
- State and local finance
Alternate Title(s) of Bill S 3551
Small Business Access to Capital Act of 2020
Small Business Access to Capital Act of 2020
A bill to help small businesses access capital and create jobs by reauthorizing the successful State Small Business Credit Initiative.
Comments
Sponsors and Cosponsors of S 3551
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