To ensure continued appropriations for certain Small Business Administration programs during a Government shutdown in fiscal year 2024, and for other purposes.
About This Bill
Committee
Latest Action · February 28, 2024
Referred to the House Committee on Appropriations.
This bill ensures that the Small Business Administration can continue operating certain loan programs during a government shutdown in 2024. The legislation provides emergency funding totaling approximately $4.2 billion to keep the SBA's loan servicing operations running for any 30-day shutdown period (or prorated for shorter shutdowns), covering salaries and expenses needed to manage existing loans. The funding targets four specific SBA programs: microloans, general 7(a) business loans, small business investment company loans, and administrative costs for microloan operations. The money comes from general Treasury funds and would be available automatically whenever a lapse in appropriations occurs, ensuring that small business owners can continue accessing loan services and support even when the federal government is not fully funded. This bill helps prevent disruption to thousands of small businesses that depend on SBA lending programs during budget disputes in Congress.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.