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Easier Access to Loans for Cooperatives

New rules make it easier for business cooperatives to access government loans by removing the requirement for personal guarantees from their members. This aims to help cooperatives grow and create jobs, supporting local economies.
Key points
Cooperatives will no longer need personal guarantees from members to secure government loans.
The Small Business Administration (SBA) will develop new criteria for evaluating cooperative loan eligibility, focusing on their ability to repay.
The act aims to increase the number of cooperatives and their participation in small business support programs.
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Expired
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Additional Information
Print number: 117_S_1736
Sponsor: Sen. Hickenlooper, John W. [D-CO]
Process start date: 2021-05-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Capital for Cooperatives Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1736.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-20.

What are the main provisions?

Key points include:

  • Cooperatives will no longer need personal guarantees from members to secure government loans.
  • The Small Business Administration (SBA) will develop new criteria for evaluating cooperative loan eligibility, focusing on their ability to repay.
  • The act aims to increase the number of cooperatives and their participation in small business support programs.
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. Hickenlooper, John W. [D-CO].

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 Agriculture