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United States · Bill · HR

H.R. 7903 (116th)

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

referredUnited States· United States Congress· EN

Introduced

31 July 2020

Last action

7 December 2020 · Introduced

Status

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

Sponsors

Rep. Chu, Judy [D-CA-28], Ross Spano, Rep. Phillips, Dean [D-MN-3], Van Taylor

Subjects

Discovery layer

Source updated

14 January 2026

Official sourceDownload fileView documentsShare

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 31 July 2020

    Introduced

    Referred to the House Committee on Small Business.

    Source: IntroReferral

  2. 31 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 31 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 16 September 2020

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  5. 16 September 2020

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 3 December 2020

    Passed

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

    Source: Floor

  7. 3 December 2020

    Passed

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

    Source: Floor

  8. 3 December 2020

    Passed

    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)

    Source: Floor

  9. 3 December 2020

    Floor

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

    Source: Floor

  10. 3 December 2020

    Floor

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

    Source: Floor

  11. 3 December 2020

    Floor

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

    Source: Floor

  12. 7 December 2020

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

8 official files

Referred in Senate (text)

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  • Referred in Senate (text)

    Referred in Senate · EN · 7 December 2020

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 7 December 2020

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  • Engrossed in House (text)

    Engrossed in House · EN · 3 December 2020

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 3 December 2020

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  • Passed House

    summary · EN · 3 December 2020

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  • Introduced in House (text)

    Introduced in House · EN · 31 July 2020

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  • Introduced in House (PDF)

    Introduced in House · EN · 31 July 2020

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  • Introduced in House

    summary · EN · 31 July 2020

    Open at official source

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Sponsors

Related records

Sources

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