To amend the Small Business Act to increase transparency, and for other purposes.
Microloan Transparency and Accountability Act of 2021
This bill modifies reporting requirements related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
Specifically, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Ms. Craig moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H1767-1769)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1487.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H1834)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 409 - 4 (Roll no. 115).(text: 04/14/2021 CR H1767)
Roll Call #115 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 409 - 4 (Roll no. 115). (text: 04/14/2021 CR H1767)
Roll Call #115 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
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