PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Congressional Research Service
Version 53 · Passed House · Sep 14, 2020
Microloan Improvement Act of 2020
This bill revises the microloan program through which the Small Business Administration (SBA) provides, through designated intermediaries, certain financial assistance to small businesses.
Specifically, the bill raises the limit on the aggregate amount for loans the SBA makes to an intermediary participating in the microloan program. Further, the bill (1) authorizes an intermediary to offer a line of credit to a small business, (2) increases the average amount for loans from an intermediary to participating small businesses that makes the intermediary eligible for a reduced interest rate on SBA loans, and (3) makes certain intermediaries eligible to receive a 5% technical assistance grant.
The bill also places limits on the repayment term for a microloan, and it prohibits the SBA from imposing any additional limitation on the term for repayment of a microloan.
The SBA must reserve 15% of new loan funds that are made available for disbursement as microloans to designated underutilized states and make the remaining 85% available for any state.
People & committees
Rep. Kim, Andy [D-NJ-3] · D–NJ
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H4344)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
DEBATE - The House proceeded with forty minutes of debate on H.R. 6079.
Considered under suspension of the rules. (consideration: CR H4344-4345)
Ms. Velazquez moved to suspend the rules and pass the bill.
Ordered to be Reported by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Small Business.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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