United States · Bill · HR
H.R. 1502 (117th)
Microloan Improvement Act of 2021
Introduced
2 March 2021
Last action
19 April 2021 · Introduced
Status
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sponsors
Sen. Kim, Andy [D-NJ], Rep. Garbarino, Andrew R. [R-NY-2], Marie Newman, Rep. Burchett, Tim [R-TN-2], Rep. Fitzpatrick, Brian K. [R-PA-1], Van Taylor, Rep. Tenney, Claudia [R-NY-24], Rep. Cohen, Steve [D-TN-9], Rescom. González-Colón, Jenniffer [R-PR-At Large]
Subjects
Discovery layer
Source updated
28 May 2025
Summary
Microloan Improvement Act of 2021 This bill revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses. Specifically, the bill authorizes an intermediary to offer a line of credit to a small business, and it increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans. The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan. Further, the SBA must (1) reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state, (2) establish a process for an intermediary to provide the major credit reporting agencies with information about a borrower that is relevant to credit reporting, and (3) include information regarding equitable distribution of loan funds in its annual report.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
2 March 2021
Introduced
Referred to the House Committee on Small Business.
Source: IntroReferral
2 March 2021
Introduced
Introduced in House
Source: IntroReferral
2 March 2021
Introduced
Introduced in House
Source: IntroReferral
14 April 2021
Floor
Ms. Craig moved to suspend the rules and pass the bill.
Source: Floor
14 April 2021
Vote
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Source: Floor
14 April 2021
Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 1502.
Source: Floor
14 April 2021
Floor
Considered under suspension of the rules. (consideration: CR H1765-1767)
Source: Floor
15 April 2021
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
15 April 2021
Vote
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 397 - 16 (Roll no. 114). (text: 04/14/2021 CR H1765)
Source: Floor
15 April 2021
Vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 397 - 16 (Roll no. 114).(text: 04/14/2021 CR H1765)
Source: Floor
15 April 2021
Floor
Considered as unfinished business. (consideration: CR H1833)
Source: Floor
19 April 2021
Introduced
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Source: IntroReferral
Votes
16 April 2021 · passed · On Motion to Suspend the Rules and Pass · Passed · Official source
Yes 397 · No 16 · Abstain — · Absent/not voting 16
- Rep. Ferguson, A. Drew, IV [R-GA-3]Yea
- Rep. McEachin, A. Donald [D-VA-4]Yea
- Rep. Spanberger, Abigail Davis [D-VA-7]Yea
- Rep. Kinzinger, Adam [R-IL-16]Yea
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Referred in Senate · 19 April 2021 · Download file
- Engrossed in House · 15 April 2021 · Download file
- Introduced in House · 2 March 2021 · Download file
Documents
8 official files
Referred in Senate (text)
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Leesvertaling
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Referred in Senate (text)
Referred in Senate · EN · 19 April 2021
Referred in Senate (PDF)
Referred in Senate · EN · 19 April 2021
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Engrossed in House (text)
Engrossed in House · EN · 15 April 2021
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Engrossed in House (PDF)
Engrossed in House · EN · 15 April 2021
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Passed House
summary · EN · 15 April 2021
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Introduced in House (text)
Introduced in House · EN · 2 March 2021
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Introduced in House (PDF)
Introduced in House · EN · 2 March 2021
ViewDownloadOpen at official source
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Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Introduced in House
summary · EN · 2 March 2021
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Sen. Kim, Andy [D-NJ] · D · Sponsor
- Rep. Garbarino, Andrew R. [R-NY-2] · R · Sponsor
- Marie Newman · D · Sponsor
- Rep. Burchett, Tim [R-TN-2] · R · Sponsor
- Rep. Fitzpatrick, Brian K. [R-PA-1] · R · Cosponsor
- Van Taylor · R · Cosponsor
- Rep. Tenney, Claudia [R-NY-24] · R · Cosponsor
- Rep. Cohen, Steve [D-TN-9] · D · Cosponsor
- Rescom. González-Colón, Jenniffer [R-PR-At Large] · R · Cosponsor
- · sssb00 · Standing
- · hssm00 · Standing
Related records
No cross-record relationships stored yet.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/117th-congress/house-bill/1502
- Open data entity: https://api.congress.gov/v3/bill/117/hr/1502
- us · 117-hr-1502 · source updated 28 May 2025