In CommitteeFiled May 14, 2026
Sponsor: Sen. Cortez Masto, Catherine [D-NV] (D)
Latest Action
Read twice and referred to the Committee on Small Business and Entrepreneurship.
May 14, 2026
Summary
The bill adds a new microbusiness loan program to the Small Business Act, allowing the SBA to make direct loans of up to $100,000 to very small for‑profit firms. It defines a microbusiness as one with 10 or fewer full‑time employees and annual revenue of $5 million or less, and sets rules for fees, a 6% annual interest rate, and loan terms. The goal is to improve financing access for the smallest businesses.
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