Small Business Administration Franchise Loan Transparency Act of 2021

Fact Sheet API

Bill Number

S 1120

Introduced

Apr 14, 2021

Latest Action

Committee on Small Business and Entrepreneurship. Hearings held.

Sponsor

Cosponsors

Topics

Business records Commerce Government lending and loan guarantees Retail and wholesale trades Small business

Full Text

View Full Bill Text

Votes

Summary

Small Business Administration Franchise Loan Transparency Act of 2021

This bill requires a franchisor seeking guaranteed lending from the Small Business Administration to disclose historical revenue and store-closure information to any prospective franchisee before the loan will be approved.

Actions

Mar 16, 2022

Committee on Small Business and Entrepreneurship. Hearings held.
Apr 14, 2021

Read twice and referred to the Committee on Small Business and Entrepreneurship.
Apr 14, 2021

Introduced in Senate

Amendments

Related Bills