Loans in our Neighborhoods Act

Bill: 118-hr-7242
Sponsor: full_name: Rep. Thanedar, Shri [D-MI-13]
Introduced: 2024-02-05
Policy area: Commerce
Latest action: action_date: 2024-02-05
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 7242 IN THE HOUSE OF REPRESENTATIVES February 5, 2024 Mr. Thanedar introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act.

1. Short title This Act may be cited as the Loans in our Neighborhoods Act . 2. Maximum gross loan amount for a 7 (a) loan Section 7(a)(3)(A) of the Small Business Act ( 15 U.S.C. 636(a)(3)(A) ) is amended by striking $5,000,000 and inserting $10,000,000 .