PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Small Business and Entrepreneurship.
Congressional Research Service
Version 00 · Introduced in Senate · Aug 10, 2021
Expanding Access to Affordable Credit for Small Businesses Act
This bill establishes rules related to the authorization of lending institutions and other entities (including small business lending companies, non-federally regulated lenders, and non-depository lending institutions) to make loans under the 7(a) Program of the Small Business Administration (SBA). Under the 7(a) Program, the SBA provides business loans and loan guarantees to small business borrowers who cannot obtain credit elsewhere on reasonable terms and conditions.
Specifically, the SBA must ensure that these lending institutions and other entities (1) provide an independent audit that examines adherence to all applicable federal laws and regulations regarding anti-money laundering, counterterrorist financing, sanctions, and financial crimes; and (2) implement a compliance program that is designed to conform with relevant anti-money laundering laws and regulations.
People & committees
Sen. Scott, Tim [R-SC] · R–SC
Legislative record
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Read twice and referred to the Committee on Small Business and Entrepreneurship.
Introduced in Senate
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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