The Main Street Lending Improvement Act directs the Government Accountability Office (Comptroller General) to study how quickly the Small Business Administration disburses loans to small businesses, with particular focus on comparing Appalachian regions to other areas. The study will examine data from 2021 through 2024 and measure loan processing times, approval rates, loan amounts, and accessibility for small business owners across different regions. Within one year, the Comptroller General must brief Congress on the study's progress, and within two years must submit a complete report with recommendations for speeding up the loan process, improving communication with applicants about their application status, and identifying inefficiencies in government operations. The bill affects small businesses seeking loans through standard SBA programs but excludes COVID-19 pandemic-related emergency loans from the analysis.
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