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Increased Loan Availability for Small Businesses Until 2025

This act increases the availability and funding for small business loans, including refinancing options. This means more businesses can access financial support, potentially boosting local economies and job creation. These changes are temporary and will expire in October 2025.
Key points
Increases the maximum annual funding for small business loans to $15 billion.
Simplifies access to refinancing loans for small businesses.
These provisions are temporary and will cease to be effective on October 1, 2025.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_5057
Sponsor: Sen. Coons, Christopher A. [D-DE]
Process start date: 2022-09-29
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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

504 Loan Availability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5057.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-09-29.

What are the main provisions?

Key points include:

  • Increases the maximum annual funding for small business loans to $15 billion.
  • Simplifies access to refinancing loans for small businesses.
  • These provisions are temporary and will cease to be effective on October 1, 2025.
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. Coons, Christopher A. [D-DE].

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