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S. 1897 (115th): Small Business Access to Capital Act of 2017

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 28, 2017.

Small Business Access to Capital Act of 2017

This bill amends the Small Business Jobs Act of 2010 to reauthorize for an additional eight years the State Small Business Credit Initiative to assist participating states to give collateral financial support to and other innovative credit access and guarantee initiatives for small businesses and manufacturers.

The bill prescribes allocations of federal funds to participating states.

The Department of the Treasury may award, on a competitive basis, up to $1 billion in two tranches (portions), according to specified criteria, to participating states for use (1) for making federal contributions to an approved state program, or (2) as collateral for a qualifying loan or swap funding facility.