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Small Business Support: Billions for Growth and Job Creation

This act aims to facilitate small businesses' access to capital, which is expected to lead to the creation of new jobs. It allocates $10 billion to states, which can use these funds for programs supporting small businesses, including new ventures and those operating in low- and moderate-income communities. As a result, citizens can anticipate more local job opportunities and economic development support in their regions.
Key points
$10 billion will be allocated to support small businesses across the United States.
Funds will go to states with proven small business support programs or those that establish new, effective programs.
The funds are intended to help create and retain jobs, especially in new businesses (up to 5 years old) and in lower-income communities.
States will need to demonstrate how they will use the funds to leverage private capital and foster economic growth.
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Expired
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Additional Information
Print number: 117_S_258
Sponsor: Sen. Peters, Gary C. [D-MI]
Process start date: 2021-02-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Access to Capital Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_258.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-04.

What are the main provisions?

Key points include:

  • $10 billion will be allocated to support small businesses across the United States.
  • Funds will go to states with proven small business support programs or those that establish new, effective programs.
  • The funds are intended to help create and retain jobs, especially in new businesses (up to 5 years old) and in lower-income communities.
  • States will need to demonstrate how they will use the funds to leverage private capital and foster economic growth.
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. Peters, Gary C. [D-MI].

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