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SBA Franchise Loan Default Disclosure: Increased Transparency for Entrepreneurs

This act mandates the Small Business Administration (SBA) to publish loan default rates for individual franchise brands. This will provide citizens considering opening a franchise with crucial financial information, helping them make more informed investment decisions and assess risks.
Key points
The SBA will quarterly publish online loan default rates for each franchise brand over the past 10 years.
This information will be easily accessible and linked to the SBA's Franchise Directory, increasing transparency in the franchise market.
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Status:
Expired
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Additional Information
Print number: 117_S_2162
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2021-06-22
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-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

SBA Franchise Loan Default Disclosure Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2162.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-06-22.

What are the main provisions?

Key points include:

  • The SBA will quarterly publish online loan default rates for each franchise brand over the past 10 years.
  • This information will be easily accessible and linked to the SBA's Franchise Directory, increasing transparency in the franchise market.
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. Cortez Masto, Catherine [D-NV].

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.

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