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Support for Community Lenders and Small Businesses

This new act establishes a Coordinator for Community Financial Institutions within the Small Business Administration. The goal is to enhance access to capital for small businesses, especially in underserved communities. This means citizens running small businesses may find it easier to secure loans and financial support for their ventures.
Key points
Creation of a Coordinator position to support the growth of local banks and financial institutions.
Improved access to capital and loans for small businesses, particularly in less developed areas.
Regular public meetings with stakeholders to discuss needs and progress.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_6486
Sponsor: Rep. McGarvey, Morgan [D-KY-3]
Process start date: 2023-11-28
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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

Supporting Community Lenders Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6486.

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 2023-11-28.

What are the main provisions?

Key points include:

  • Creation of a Coordinator position to support the growth of local banks and financial institutions.
  • Improved access to capital and loans for small businesses, particularly in less developed areas.
  • Regular public meetings with stakeholders to discuss needs and progress.
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. McGarvey, Morgan [D-KY-3].

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 2025-12-25.

CATEGORIES

Economy