Senate Bill 3551
116th Congress(2019-2020)
Small Business Access to Capital Act of 2020
Introduced
Introduced in Senate on Mar 20, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3551
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
Small Business Access to Capital Act of 2020
This bill reauthorizes for an additional eight years the State Small Business Credit Initiative.
The initative assists participating states in providing collateral financial support to, and other innovative credit access and guarantee initiatives for, small businesses and manufacturers.
The bill prescribes allocations of federal funds to participating states, and it authorizes the Department of the Treasury to award up to $2 billion in two tranches (portions), according to specified criteria, for participating states to (1) make federal contributions to an approved state program, or (2) use as collateral for a qualifying loan or swap funding facility.
March 20, 2020
03/20/2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
03/20/2020
Introduced in Senate
Public Record
Record Updated
Feb 8, 2022 11:23:05 PM