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Expanding Access to Affordable Credit for Small Businesses

This act aims to make it easier for small businesses to get loans by allowing more institutions to offer loans under a key government program. It sets rules for licensing these institutions to ensure they are trustworthy and comply with financial crime regulations.
Key points
More financial institutions will be allowed to make loans under a program supporting small businesses.
Institutions applying for a license must meet strict requirements to prevent money laundering and other financial crimes.
The government agency (SBA) cannot stop issuing licenses and must start accepting applications within one year.
The SBA will report annually on applications, approvals, loans made, and loan recipients.
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Status:
Expired
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Additional Information
Print number: 117_HR_6217
Sponsor: Rep. Donalds, Byron [R-FL-19]
Process start date: 2021-12-09
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

Expanding Access to Affordable Credit for Small Businesses Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6217.

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 2021-12-09.

What are the main provisions?

Key points include:

  • More financial institutions will be allowed to make loans under a program supporting small businesses.
  • Institutions applying for a license must meet strict requirements to prevent money laundering and other financial crimes.
  • The government agency (SBA) cannot stop issuing licenses and must start accepting applications within one year.
  • The SBA will report annually on applications, approvals, loans made, and loan recipients.
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. Donalds, Byron [R-FL-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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