Small-Dollar and Veterans Loans Enhancement Act
Latest action · Jul 17, 2019 Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 17, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small-Dollar and Veterans Loans Enhancement Act
This bill eliminates or reduces fees on Small Business Administration (SBA) small-dollar loans for borrowers and certain lenders.
Specifically, in years when the SBA projects its loan programs will operate at a surplus, the SBA must waive or reduce to the maximum extent possible (1) guarantee and yearly fees on all loans to small-dollar borrowers; (2) guarantee fees on express loans to veterans; and (3) if funds allow, fees for lenders making express loans to veterans.
The Congressional Budget Office shall submit an estimate of the cost of providing such fee waivers or reductions.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Small Business and Entrepreneurship Committee | Referred Jul 17, 2019 |
Actions 2
Everything that happened, newest first.
- Jul 17, 2019Introduced in Senate
- Jul 17, 2019Read twice and referred to the Committee on Small Business and Entrepreneurship.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R42695 | SBA Veterans Assistance Programs: An Analysis of Contemporary Issues Archived | Report | May 12, 2022 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to waive participant fees on small-dollar and veteran Express loans in the largest loan program of the Small Business Administration to close the capital gap for underserved business owners, and for other purposes.
- Short Title(s) as Introduced
- Small-Dollar and Veterans Loans Enhancement Act
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Jul 17, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
