New bills have been introduced to help ensure equitable access to Small Business Administration (SBA) lending programs for employee-owned small businesses.
New Bill Would Expand Access to SBA Loan Programs for Some Small Businesses
The bills were introduced by House Small Business Committee Chairwoman Nydia M. Velázquez, and Subcommittee on Oversight, Investigations, and Regulations Chairman Dean Phillips. They follow the Main Street Ownership Act of 2018, which was also introduced by Chairwoman Velázquez and included provisions to ease burdensome guarantee restrictions and help retiring business owners convert to an employee-owned model.
