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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

Microloan Improvement Act of 2020

Short Titles as Introduced

Microloan Improvement Act of 2020

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Small Business Act to optimize the operations of the microloan program, lower costs for small business concerns and intermediary participants in the program, and for other purposes.

Actions Overview (2)

Date Actions Overview
09/14/2020Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
03/04/2020Introduced in House

All Actions (10)

Date Chamber All Actions
09/15/2020SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
09/14/2020-2:33pmHouseMotion to reconsider laid on the table Agreed to without objection.
09/14/2020-2:32pmHouseOn motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H4344)
09/14/2020-2:23pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 6079.
09/14/2020-2:23pmHouseConsidered under suspension of the rules. (consideration: CR H4344-4345)
09/14/2020-2:22pmHouseMs. Velazquez moved to suspend the rules and pass the bill.
03/11/2020HouseOrdered to be Reported by Voice Vote.
Action By: Committee on Small Business
03/11/2020HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Small Business
03/04/2020HouseReferred to the House Committee on Small Business.
03/04/2020HouseIntroduced in House

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Burchett, Tim [R-TN-2]* 03/04/2020

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Small Business03/04/2020 Referred to
03/11/2020 Markup by
Senate Small Business and Entrepreneurship09/15/2020 Referred to

As of 10/19/2020 no related bill information has been received for H.R.6079 - Microloan Improvement Act of 2020

Latest Summary (2)

There are 2 summaries for H.R.6079. View summaries

Shown Here:
Passed House (09/14/2020)

Microloan Improvement Act of 2020

This bill revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses.

Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant.

The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan.

The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.