Small Business Access to Capital Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Feb 4, 2021)
Small Business Access to Capital Act of 2021
This bill reauthorizes for an additional eight years the State Small Business Credit Initiative.
The initative assists participating states in providing collateral financial support to, and other innovative credit access and guarantee initiatives for, small businesses and manufacturers.
The bill prescribes allocations of federal funds to participating states, and it authorizes the Department of the Treasury to award up to $5 billion in two tranches (portions), according to specified criteria, for participating states to (1) make federal contributions to an approved state program, or (2) use as collateral for a qualifying loan or swap funding facility.
What just happenedFeb 4, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateFeb 4, 2021
- Feb 4, 2021IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Feb 4, 2021IntroReferral10000
Introduced in Senate