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Doubling Maximum Loan Amounts for Small Businesses Under the SBA 7(a) Program.

This bill significantly increases the maximum loan amount available to small businesses through the primary government lending program (SBA 7(a)). The change aims to provide small businesses with access to substantially more capital, supporting expansion, job creation, and investment in local communities. This directly benefits entrepreneurs planning major investments.
Key points
The maximum loan amount available to small businesses under the 7(a) program is doubled from $3.75 million to $7.5 million.
This change allows small business owners to secure much larger financing for growth, equipment purchases, or real estate acquisition, stimulating the local economy.
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Expired
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Additional Information
Print number: 118_HR_9176
Sponsor: Rep. Thanedar, Shri [D-MI-13]
Process start date: 2024-07-25
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LIONs Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9176.

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 2024-07-25.

What are the main provisions?

Key points include:

  • The maximum loan amount available to small businesses under the 7(a) program is doubled from $3.75 million to $7.5 million.
  • This change allows small business owners to secure much larger financing for growth, equipment purchases, or real estate acquisition, stimulating the local economy.
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. Thanedar, Shri [D-MI-13].

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 2025-12-26.

CATEGORIES

Economy