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house Bill H.R. 1487

Microloan Transparency and Accountability Act of 2021

Bill Details

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Title

Microloan Transparency and Accountability Act of 2021

Official Title

To amend the Small Business Act to increase transparency, and for other purposes.

Summary

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.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Small Business and Entrepreneurship
  • The house Passed April 16th, 2021
    Roll Call Vote 409 Yea / 4 Nay
      house Committees
      Committee on Small Business
    IntroducedMarch 2nd, 2021

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