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United States · Bill · HR

H.R. 6078 (116th)

Microloan Transparency and Accountability Act of 2020

referredUnited States· United States Congress· EN

Introduced

4 March 2020

Last action

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Status

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

Sponsors

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Subjects

Discovery layer

Source updated

28 May 2025

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Summary

Microloan Transparency and Accountability Act of 2020 This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance. Specifically, the bill establishes a 5% technical assistance grant for intermediaries who make 25% of their loans to rural small businesses. Further, 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.

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Documents

8 official files

Referred in Senate (text)

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