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H.R. 2056 (115th): Microloan Modernization Act of 2017

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About the bill

Source: Republican Policy Committee

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 SBA technical assistance grants on pre-loan assistance or on third-party contracts. The new ratio is 50/50. To gain a better understanding of the program’s utilization, H.R. 2056 directs the SBA to conduct a study on the usage of the program. Finally, the legislation requires a …

Sponsor and status

Stephanie Murphy

Sponsor. Representative for Florida's 7th congressional district. Democrat.

Read Text »
Last Updated: Jul 25, 2017
Length: 4 pages
Apr 6, 2017
115th Congress (2017–2019)
Enacted Via Other Measures

Provisions of this bill were incorporated into other bills which were enacted.

This bill was incorporated into:

H.R. 5515: John S. McCain National Defense Authorization Act for Fiscal Year 2019
Enacted — Signed by the President on Aug 13, 2018. (compare text)

11 Cosponsors (8 Democrats, 3 Republicans)


Position statements

What legislators are saying

Murphy Measure to Help Departing Servicemembers Successfully Transition to Civilian Life Set to Become Law
    — Rep. Stephanie Murphy [D-FL7, 2017-2022] (Sponsor) on Jul 26, 2018

Jenniffer Gonzlez discute oportunidades para el desarrollo econmico mediante la contratacin federal
    — Commish. Jenniffer González-Colón [R-PR] (Co-sponsor) on Aug 17, 2018

The Week Ahead - scheduled votes, committee action and other important notes for the week of July 24, 2017
    — Rep. David Young [R-IA3, 2015-2018] on Jul 24, 2017

More statements at ProPublica Represent...


Apr 6, 2017

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jun 15, 2017
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.

Jul 12, 2017
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.

Jul 24, 2017
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.

H.R. 2056 (115th) was 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.

Bills numbers restart every two years. That means there are other bills with the number H.R. 2056. This is the one from the 115th Congress.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

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“H.R. 2056 — 115th Congress: Microloan Modernization Act of 2017.” 2017. February 4, 2023 <>

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