Microloan Transparency and Accountability Act of 2023
The summary
What this bill does
Microloan Transparency and Accountability Act of 2023
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.
Legislative timeline
From introduction
Jan 24, 2023
Introduced & referred to committee
Jan 26, 2023
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Congressional support
Sponsors & Cosponsors
U.S. Representative - TN District 2 · R-TN
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 118 |
| Bill Type | HR |
| Bill Number | 449 |
| Origin Chamber | House |
| Current Status | Active |
| Policy Area | Commerce |
| Primary Committee | Not assigned |
| Introduced | January 24, 2023 |
| Latest Action | January 26, 2023 |
| Cosponsors | 2 · House vote — · 1 views |