Small-Dollar and Veterans Loans Enhancement Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 17, 2019)
Small-Dollar and Veterans Loans Enhancement Act
This bill eliminates or reduces fees on Small Business Administration (SBA) small-dollar loans for borrowers and certain lenders.
Specifically, in years when the SBA projects its loan programs will operate at a surplus, the SBA must waive or reduce to the maximum extent possible (1) guarantee and yearly fees on all loans to small-dollar borrowers; (2) guarantee fees on express loans to veterans; and (3) if funds allow, fees for lenders making express loans to veterans.
The Congressional Budget Office shall submit an estimate of the cost of providing such fee waivers or reductions.
What just happenedJul 17, 2019
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateJul 17, 2019
- Jul 17, 2019IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - Jul 17, 2019IntroReferral10000
Introduced in Senate