A bill to amend the Small Business Investment Act of 1958 to provide opportunities to rural business investment companies, and for other purposes.
Rural Capital Access Act
This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs.
The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S1830-1831)
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