LIONs Act of 2025

Bill: 119-hr-1893
Sponsor: full_name: Rep. Thanedar, Shri [D-MI-13]
Introduced: 2025-03-05
Policy area: Commerce
Latest action: action_date: 2025-03-05
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 1893 IN THE HOUSE OF REPRESENTATIVES March 5, 2025 Mr. Thanedar (for himself and Mr. Alford ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act and the Small Business Investment Act of 1958 to increase the maximum loan amount for certain loans, and for other purposes.

1. Short title This Act may be cited as the Loans In Our Neighborhoods Act of 2025 or the LIONs Act of 2025 . 2. Maximum 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 $3,750,000 (or if the gross loan amount would exceed $5,000,000) and inserting $7,500,000 (or if the gross loan amount would exceed $10,000,000) . 3. Maximum loan amount for a development company loan Section 502(2)(A) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(2)(A) ) is amended— (1) by striking $5,000,000 each place it appears and inserting $10,000,000 ; and (2) by striking $5,500,000 each place it appears and inserting $10,000,000 .