Senate Bill 1120
117th Congress(2021-2022)
Small Business Administration Franchise Loan Transparency Act of 2021
Introduced
Introduced in Senate on Apr 14, 2021
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
1120
Congress
117
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 Administration Franchise Loan Transparency Act of 2021
This bill requires a franchisor seeking guaranteed lending from the Small Business Administration to disclose historical revenue and store-closure information to any prospective franchisee before the loan will be approved.
April 14, 2021
03/16/2022
Committee on Small Business and Entrepreneurship. Hearings held.
04/14/2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/14/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:44 PM