Bill 119 hr 1893, also known as the Small Business Access to Capital Act, aims to make changes to the Small Business Act and the Small Business Investment Act of 1958. The main goal of this bill is to increase the maximum loan amount for certain loans that are available to small businesses.
Currently, small businesses have limited access to capital, which can hinder their ability to grow and succeed. By increasing the maximum loan amount, small businesses will have more financial resources available to them, allowing them to expand their operations, hire more employees, and invest in new technologies.
In addition to increasing the loan amount, the bill also includes provisions for other purposes, which may include streamlining the loan application process, providing additional support and resources to small businesses, and promoting economic growth and job creation.
Overall, the Small Business Access to Capital Act is aimed at helping small businesses thrive and succeed by providing them with the financial resources they need to grow and expand. This bill has the potential to have a positive impact on the economy by supporting small businesses, which are a vital part of the US economy.