Continuing Access to 504 Capital Act

Bill: 117-s-2709
Sponsor: full_name: Sen. Cardin, Benjamin L. [D-MD]
Introduced: 2021-08-10
Policy area: Commerce
Subjects: Government lending and loan guarantees

Small business
Latest action: action_date: 2021-08-10
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Summaries:
action_date: 2021-08-10
action_desc: Introduced in Senate
text: <p><b>Continuing Access to 504 Capital Act</b></p> <p>This bill authorizes the Small Business Administration (SBA) to guarantee an additional $1 billion of loans made under the 504 Program. Such loans, made through SBA community partners and certified by the SBA, provide long-term, fixed rate financing for major fixed assets that promote business growth and job creation.</p>

tv_txt: II 117th CONGRESS 1st Session S. 2709 IN THE SENATE OF THE UNITED STATES August 10, 2021 Mr. Cardin (for himself and Mr. Van Hollen ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Consolidated Appropriations Act, 2021 to increase the fiscal year 2021 commitments to guarantee certain business loans of the Small Business Administration.

1. Short title This Act may be cited as the Continuing Access to 504 Capital Act . 2. SBA business loans Title V of division E of the Consolidated Appropriations Act, 2021 ( Public Law 116–260 ) is amended, under the heading (INCLUDING TRANSFER OF FUNDS) under the heading BUSINESS LOANS PROGRAM ACCOUNT under the heading Small Business Administration , in the second proviso, by striking $7,500,000,000 and inserting $8,500,000,000 .