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Increased Loans for Agriculture, Manufacturing, and Emerging Technologies

This act raises loan limits for small businesses in agriculture, manufacturing, and critical/emerging technologies. This aims to provide them with greater access to capital, potentially fostering growth and job creation in these sectors. Additionally, the act mandates a report on the impact of inflation and supply chain disruptions on small business access to capital.
Key points
Increased maximum loan amounts for small businesses primarily engaged in agriculture, manufacturing, or producing critical and emerging technologies.
Requirement for small businesses seeking increased loans to disclose information about foreign individuals or entities owning at least 5% of the business.
Mandate for a report to Congress on the effects of inflation and supply chain disruptions on small business access to capital over the past three years.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_3682
Sponsor: Sen. Ernst, Joni [R-IA]
Process start date: 2022-02-17
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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

American Small Business Competition Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3682.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-02-17.

What are the main provisions?

Key points include:

  • Increased maximum loan amounts for small businesses primarily engaged in agriculture, manufacturing, or producing critical and emerging technologies.
  • Requirement for small businesses seeking increased loans to disclose information about foreign individuals or entities owning at least 5% of the business.
  • Mandate for a report to Congress on the effects of inflation and supply chain disruptions on small business access to capital over the past three years.
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. Ernst, Joni [R-IA].

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