504 Loan Availability Act

504 Loan Availability Act

This bill temporarily combines the funding authorization for loans and refinancing loans under the Small Business Administration 504 loan program. The 504 loan program provides financing for major fixed assets through community-based Certified Development Companies (CDCs).

Bill 118 s 2100, also known as the 504 Loan Availability Act, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to increase the availability of 504 loans for small businesses.

504 loans are a type of Small Business Administration (SBA) loan that can be used for purchasing land, buildings, or equipment, as well as for construction or renovation projects. These loans are typically used by small businesses that are looking to expand or improve their operations.

The 504 Loan Availability Act aims to make it easier for small businesses to access these loans by increasing the funding available for the program. This would allow more small businesses to qualify for 504 loans and help them grow and create jobs. The bill has received bipartisan support in Congress, with lawmakers from both parties recognizing the importance of supporting small businesses and promoting economic growth. If passed, the 504 Loan Availability Act could have a positive impact on small businesses across the country. Overall, this bill is focused on providing more opportunities for small businesses to access the funding they need to succeed and contribute to the economy. It is an important piece of legislation that could help stimulate economic growth and create jobs in communities across the United States.