Small Business Access to Capital Act of 2021

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Feb 4, 2021

Small Business Access to Capital Act of 2021

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 $5 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.

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People & committees

Who introduced it

Sen. Peters, Gary C. [D-MI] · D–MI

Committees

Banking, Housing, and Urban Affairs Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Feb 4, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 4, 2021
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Feb 4, 2021 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

S 3551 · Small Business Access to Capital Act of 2020

Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze S.258 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.258, 117th Congress: Small Business Access to Capital Act of 2021

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/258

Text version to examine: Introduced in Senate · 2021-02-04.

Official full text: https://www.congress.gov/117/bills/s258/BILLS-117s258is.htm

Imported record last updated by the source: 2025-04-07T15:03:55Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.258 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.258 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.258, 117th Congress: Small Business Access to Capital Act of 2021

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/258

Text version to examine: Introduced in Senate · 2021-02-04.

Official full text: https://www.congress.gov/117/bills/s258/BILLS-117s258is.htm

Imported record last updated by the source: 2025-04-07T15:03:55Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.258 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.258 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss S.258, 117th Congress: Small Business Access to Capital Act of 2021

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/258

Text version to examine: Introduced in Senate · 2021-02-04.

Official full text: https://www.congress.gov/117/bills/s258/BILLS-117s258is.htm

Imported record last updated by the source: 2025-04-07T15:03:55Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.258 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.258 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.258, 117th Congress: Small Business Access to Capital Act of 2021

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/258

Text version to examine: Introduced in Senate · 2021-02-04.

Official full text: https://www.congress.gov/117/bills/s258/BILLS-117s258is.htm

Imported record last updated by the source: 2025-04-07T15:03:55Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.258 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.