H.R. 6078 · 116th Congress
Microloan Transparency and Accountability Act of 2020
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 116th Congress ended.
R
BurchettSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Mar 4, 2020
- House Passed Sep 14, 2020
This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
What it does: CRS summary · Passed House · Sep 14, 2020
Microloan Transparency and Accountability Act of 2020
This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
Specifically, the bill establishes a 5% technical assistance grant for certain intermediaries, including intermediaries who make 25% of their loans to rural small businesses. Further, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Microloan Transparency and Accountability Act of 2020
Latest action (Sep 15, 2020): Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: House · Introduced: Mar 4, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Mar 4, 2020
- House Passed Sep 14, 2020
No recorded floor vote found.