504 Loan Availability Act

Hozzl · 2024-03-12T17:13:07Z

Explore the details of Senate Bill 2100 504 Loan Availability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

3/12/2024, 5:13 PM

Summary of Bill S 2100

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.

Congressional Summary of S 2100

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).

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Current Status of Bill S 2100

Bill S 2100 is currently in the status of Bill Introduced since June 21, 2023. Bill S 2100 was introduced during Congress 118 and was introduced to the Senate on June 21, 2023. Bill S 2100's most recent activity was Read twice and referred to the Committee on Small Business and Entrepreneurship. as of June 21, 2023

Bipartisan Support of Bill S 2100

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2100

Primary Policy Focus

Commerce

Alternate Title(s) of Bill S 2100

504 Loan Availability Act

A bill to amend the Small Business Investment Act of 1958 to modify fees and funding for certain small business refinancing loans and loans to qualified State or local development companies, and for other purposes.