A bill to help small businesses access capital and create jobs by reauthorizing the successful State Small Business Credit Initiative.
Small Business Access to Capital Act of 2015
Amends the Small Business Jobs Act of 2010 to extend for an additional eight fiscal years the State Small Business Credit Initiative to assist participating states to give collateral support and other innovative credit access and guarantee initiatives for small businesses and manufacturers.
Prescribes allocations of federal funds to participating states.
Authorizes the Department of the Treasury to award, on a competitive basis, up to a total of $1 billion in two tranches, according to specified criteria, to participating states and consortiums of participating states for use: (1) for making federal contributions to, or for the account of, an approved state program; or (2) as collateral for a qualifying loan or swap funding facility.Referred to the House Committee on Financial Services.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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