About the bill
H.R. 2056 modernizes the Small Business Administration’s (SBA) Microloan program, which offers small businesses microloans of $50,000 or less through nonprofit lending intermediaries. In addition to providing lending services, the intermediary is also required to provide technical assistance and training to their borrowers and prospective borrowers. H.R. 2056 raises the total limit on outstanding loans held by microloan intermediaries from $5 million to $6 million. Next, the legislation provides flexibility to the 25/75 Rule, which limits a microloan intermediary to using 25 percent of their ...
Sponsor and status
- Introduced:
Apr 6, 2017
- Status:
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Passed House (Senate next) on Jul 24, 2017
This bill passed in the House on July 24, 2017 and goes to the Senate next for consideration.
- Prognosis:
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40% chance of being enacted according to Skopos Labs (details)
History
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Apr 6, 2017
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber. |
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Jun 15, 2017
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Ordered Reported
A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee. |
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Jul 12, 2017
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Reported by House Committee on Small Business
A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions. |
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Jul 24, 2017
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Passed House (Senate next)
The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made. |
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Pending
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Passed Senate
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Pending
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Signed by the President
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H.R. 2056 is a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
“H.R. 2056 — 115th Congress: Microloan Modernization Act of 2017.” www.GovTrack.us. 2017. June 19, 2018 <https://www.govtrack.us/congress/bills/115/hr2056>
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
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