PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Small Business.
Congressional Research Service
Version 00 · Introduced in House · Jan 3, 2019
Puerto Rico Small Business Assistance Act of 2019
This bill expands funding and support for small businesses that have their principal office in Puerto Rico.
Specifically, the bill
increases the total amount of loans outstanding and committed to any microloan intermediary if at least 20% of the intermediary's loans are made to such businesses;
waives the Small Business Administration (SBA) Microloan Program's limit on an intermediary's spending on technical assistance for prospective borrowers if 25% of the intermediary's loans are made to these businesses
requires the Government Accountability Office to report on intermediary participation;
reduces or eliminates SBA fees on certain loans to such businesses; and
gives federal contract preference to such businesses.
The SBA shall establish (1) a Veteran Business Outreach Center in Puerto Rico, and (2) a temporary Federal and State Technology (FAST) grant program to provide assistance to Puerto Rico businesses.
People & committees
Rep. Velazquez, Nydia M. [D-NY-7] · D–NY
Legislative record
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Referred to the House Committee on Small Business.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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