United States · Bill · HR
H.R. 7903 (116th)
To amend the Small Business Act to establish the Community Advantage Loan Program.
Introduced
31 July 2020
Last action
—
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
14 January 2026
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.
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Timeline
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Votes
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Versions
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Documents
8 official files
Referred in Senate (text)
Referred in Senate (text)
Referred in Senate · EN · 7 December 2020
Referred in Senate (PDF)
Referred in Senate · EN · 7 December 2020
Engrossed in House (text)
Engrossed in House · EN · 3 December 2020
Engrossed in House (PDF)
Engrossed in House · EN · 3 December 2020
Passed House
summary · EN · 3 December 2020
Introduced in House (text)
Introduced in House · EN · 31 July 2020
Introduced in House (PDF)
Introduced in House · EN · 31 July 2020
Introduced in House
summary · EN · 31 July 2020
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/house-bill/7903
- Open data entity: https://api.congress.gov/v3/bill/116/hr/7903