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117th Congress · House

Microloan Transparency and Accountability Act of 2021

Subjects: Administrative remedies · Congressional oversight · Government information and archives · Government lending and loan guarantees · Government studies and investigations · Rural conditions and development · Small Business Administration · Commerce

In plain language

  • House bill in the 117th Congress.
  • Modifies reporting requirements related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
  • House passed it on Apr 16, 2021 (substantive).
Official summary (Congressional Research Service)

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.

View this measure on congress.gov

Roll-call votes on this measure