I 
117TH CONGRESS 
1ST SESSION H. R. 6217 
To authorize the Administrator of the Small Business Administration to 
license lending institutions to make loans under section 7(a) of the 
Small Business Act, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 9, 2021 
Mr. DONALDS (for himself and Mr. CROW) introduced the following bill; which 
was referred to the Committee on Small Business 
A BILL 
To authorize the Administrator of the Small Business Ad-
ministration to license lending institutions to make loans 
under section 7(a) of the Small Business Act, and for 
other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Expanding Access to 
Affordable Credit for Small Businesses Act’’. 
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SEC. 2. LICENSING OF LENDING INSTITUTIONS. 
(a) IN GENERAL.—Section 7(a)(17) of the Small 
Business Act (15 U.S.C. 636(a)(17)) is amended to read 
as follows: 
‘‘(17) 
LICENSING
OF
LENDING
INSTITU-
TIONS.— 
‘‘(A) IN
GENERAL.—The Administration 
may license lending institutions to make loans 
authorized under this subsection. 
‘‘(B) CRITERIA.—In authorizing lending 
institutions under subparagraph (A), the Ad-
ministrator shall ensure that each such institu-
tion— 
‘‘(i) provides an independent audit by 
a third party or internal audit department 
that examines adherence to all applicable 
Federal laws and regulations relating to 
anti-money laundering, terrorist financing, 
sanctions, and financial crimes; and 
‘‘(ii) has in place a compliance pro-
gram that conforms with the requirements 
described in the ‘Bank Secrecy Act/Anti- 
Money Laundering Examination Manual’ 
of the Financial Institutions Examination 
Council and other applicable Federal anti- 
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money laundering regulatory guidance, in-
cluding— 
‘‘(I) an annual financial crimes 
risk assessment; 
‘‘(II) designation of an individual 
to serve as an anti-money laundering 
officer; 
‘‘(III) a customer identification 
program; 
‘‘(IV) customer due diligence and 
enhanced due diligence; 
‘‘(V) suspicious activity moni-
toring and reporting; 
‘‘(VI) information sharing; 
‘‘(VII) record retention; 
‘‘(VIII) sanctions implemented by 
the Office of Foreign Assets Control; 
‘‘(IX) annual employee training, 
including general training and job- 
specific training; and 
‘‘(X) monitoring and testing. 
‘‘(C) PROHIBITION ON MORATORIUM.—The 
Administrator may not impose a moratorium on 
the licensing of lending institutions described in 
subparagraph (A). 
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‘‘(D) NEW APPLICANTS.—Not later than 1 
year after the date of the enactment of this 
paragraph, the Administrator shall begin ac-
cepting applications for the licensing of lending 
institutions. 
‘‘(E) REPORTS.—Not later than 1 year 
after the date of the enactment of this para-
graph, and annually thereafter, the Adminis-
trator shall submit to the Committee on Small 
Business and Entrepreneurship of the Senate 
and the Committee on Small Business of the 
House of Representatives a report that in-
cludes, with respect to the year preceding the 
report— 
‘‘(i) the number of lending institutions 
that applied to make loans under this sub-
section; 
‘‘(ii) the number of such lending insti-
tutions that the Administrator approved to 
make loans under this subsection; 
‘‘(iii) the reason for any denial of an 
application of such a lending institution; 
‘‘(iv) the number and total amount of 
loans made by under this subsection by 
lending institutions; and 
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‘‘(v) demographic information on the 
recipients of the loans described in clause 
(iv). 
‘‘(F) RULE OF CONSTRUCTION.—Nothing 
in this paragraph shall be construed to provide 
authority to the Administrator to regulate small 
business lending companies, non-Federally reg-
ulated lenders, or nondepository lending institu-
tions, or banks. 
‘‘(G) DEFINITIONS.—In this paragraph: 
‘‘(i) BANK.—The term ‘bank’ has the 
meaning given in section 3 of the Federal 
Deposit Insurance Act. 
‘‘(ii) 
LENDING
INSTITUTION.—The 
term ‘lending institution’ has the meaning 
given such term by the Administrator and 
shall include a small business lending com-
pany, a non-Federally regulated lender, a 
nondepository lending institution, or a 
bank. 
‘‘(iii) NON-FEDERALLY
REGULATED 
LENDER; SMALL BUSINESS LENDING COM-
PANY.—The terms ‘non-Federally regu-
lated lender’ and ‘small business lending 
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company’ have the meanings given, respec-
tively, under section 23.’’. 
(b) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated for the Office of Credit Risk 
Management of the Small Business Administration such 
sums as may be necessary to conduct oversight of lending 
institutions and other entities as described under para-
graph (17) of section 7(a) of the Small Business Act (15 
U.S.C. 636(a)), as added by subsection (a). 
Æ 
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