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Bill116th CongressFiled Jul 31, 2020Commerce
H.R. 7903

To amend the Small Business Act to establish the Community Advantage Loan Program.

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Dec 3, 2020)

This bill establishes through FY2025 a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets.

Specifically, the bill provides statutory authority for the Community Advantage Pilot Program (CA) and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 75% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program.

The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission.

Lastly, the bill requires the Government Accountability Office to report on program outcomes.

What just happenedDec 7, 2020

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Who’s behind it

Rep. Chu, Judy [D-CA-27](D-CA)Sponsor
3 cosponsors1 D2 R
Read on Congress.gov
3cosponsors2committees12actions1related bills15subjects
  1. Dec 7, 2020IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Small Business and Entrepreneurship Committee
  2. Dec 3, 2020FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Dec 3, 2020FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6068-6070)

  4. Dec 3, 2020Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6068-6070)

  5. Dec 3, 2020FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 7903.

  6. Dec 3, 2020FloorH30000

    Considered under suspension of the rules. (consideration: CR H6068-6072)

  7. Dec 3, 2020FloorH30300

    Ms. Velazquez moved to suspend the rules and pass the bill, as amended.

  8. Sep 16, 2020Committee

    Ordered to be Reported (Amended) by Voice Vote.

    Small Business Committee
  9. Sep 16, 2020Committee

    Committee Consideration and Mark-up Session Held.

    Small Business Committee
  10. Jul 31, 2020IntroReferralH11100

    Referred to the House Committee on Small Business.

    Small Business Committee
  11. Jul 31, 2020IntroReferralIntro-H

    Introduced in House

  12. Jul 31, 2020IntroReferral1000

    Introduced in House

Passed HouseDec 3, 202053

This bill establishes through FY2025 a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets.

Specifically, the bill provides statutory authority for the Community Advantage Pilot Program (CA) and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 75% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program.

The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission.

Lastly, the bill requires the Government Accountability Office to report on program outcomes.

Introduced in HouseJul 31, 2020

This bill establishes through FY2025 a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets.

Specifically, the bill provides statutory authority for the Community Advantage Pilot Program (CA) and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 60% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program.

The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission.

Lastly, the bill requires the Government Accountability Office to report on program outcomes.

To amend the Small Business Act to establish the Community Advantage Loan Program. — Informed