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Limiting Funds for Small Business Loans in 2024

This bill limits the financial resources available for the Small Business Administration's loan program in fiscal year 2024 to $4 million. This means smaller businesses might find it harder to access federal loans, potentially impacting their growth and job creation.
Key points
Funding for small business loans will be significantly reduced in 2024.
Smaller businesses may face greater challenges in securing government financial support.
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Status:
Expired
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Additional Information
Print number: 118_HR_2147
Sponsor: Rep. Biggs, Andy [R-AZ-5]
Process start date: 2023-03-29
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

To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Business Loans Program Account for fiscal year 2024.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2147.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-29.

What are the main provisions?

Key points include:

  • Funding for small business loans will be significantly reduced in 2024.
  • Smaller businesses may face greater challenges in securing government financial support.
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 Rep. Biggs, Andy [R-AZ-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

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