Small Business Lending Reauthorization Act of 2015

Bill 114 s 1001, also known as the Small Business Lending Reauthorization Act of 2015, is a piece of legislation that aims to reauthorize and improve the Small Business Administration's (SBA) loan programs. The bill was introduced in the Senate on April 30, 2015, by Senator David Vitter from Louisiana.

The main purpose of this bill is to provide small businesses with access to affordable capital through the SBA's loan programs. These programs help small businesses grow and create jobs by providing them with the necessary funds to expand their operations, purchase equipment, or hire new employees.

Some key provisions of the bill include increasing the maximum loan amount for the SBA's 7(a) loan program, which is the agency's primary loan program for small businesses. The bill also aims to streamline the loan application process and reduce the paperwork burden for small business owners. Additionally, the bill includes measures to improve oversight and accountability within the SBA's loan programs to ensure that taxpayer dollars are being used efficiently and effectively. This includes requiring the SBA to report regularly to Congress on the performance of its loan programs and the impact they are having on small businesses. Overall, the Small Business Lending Reauthorization Act of 2015 is aimed at supporting small businesses and promoting economic growth by providing them with the resources they need to succeed. It is currently pending in the Senate Committee on Small Business and Entrepreneurship for further consideration.