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Small Business Support: $10 Billion for Growth and Recovery

This act renews and expands a program providing $10 billion to states to support small businesses. The funds aim to help businesses grow, especially those owned by disadvantaged groups, and recover from the pandemic by providing access to financing and technical assistance.
Key points
Provides $10 billion for state programs supporting small businesses.
Includes dedicated funds and incentives for businesses owned by socially and economically disadvantaged individuals and Tribal governments.
Requires states to plan for quick use of funds for pandemic response and provide technical assistance to businesses.
Limits interest rates on supported loans to a maximum of 36% per year.
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Status:
Expired
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Additional Information
Print number: 117_HR_1669
Sponsor: Rep. Green, Al [D-TX-9]
Process start date: 2021-03-09
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

State Small Business Credit Initiative Renewal Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1669.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-09.

What are the main provisions?

Key points include:

  • Provides $10 billion for state programs supporting small businesses.
  • Includes dedicated funds and incentives for businesses owned by socially and economically disadvantaged individuals and Tribal governments.
  • Requires states to plan for quick use of funds for pandemic response and provide technical assistance to businesses.
  • Limits interest rates on supported loans to a maximum of 36% per year.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Green, Al [D-TX-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Public Investments