arrow_back Back to App

Easier Access to Loans for Small Businesses in Underserved Areas

This act aims to make it easier for small businesses, especially those in low- and moderate-income neighborhoods, to get loans. It allows more non-federally regulated lenders to offer government-guaranteed loans, increasing access to capital for local businesses and potentially creating jobs.
Key points
More financial institutions can now offer loans to small businesses, increasing capital availability.
At least half of these loans must go to businesses in low- or moderate-income neighborhoods, supporting local development.
The act provides funding to implement this program, ensuring real support for entrepreneurs.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1509
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-04-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Fair Access to Small Business Lending Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1509.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-29.

What are the main provisions?

Key points include:

  • More financial institutions can now offer loans to small businesses, increasing capital availability.
  • At least half of these loans must go to businesses in low- or moderate-income neighborhoods, supporting local development.
  • The act provides funding to implement this program, ensuring real support for entrepreneurs.
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 Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Public Investments