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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.
article Official text account_balance Process page
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
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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

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.

CATEGORIES

Economy