Top Summary
The bill amends Section 23 of the Small Business Act to limit the number of small business lending companies, excluding nonprofit entities, that can be authorized to make loans under section 7 to no more than 16 at any given time.
Original Bill Text:
SEC. 2.Limitation on number of small business lending companies.
Section 23 of the Small Business Act (15 U.S.C. 650) is amended by adding at the end the following:
“(k) Limitation on number of small business lending companies.—The Administrator shall ensure that not more than 16 small business lending companies that are not nonprofit entities are authorized to make loans under section 7 at any time.”.
Passed the House of Representatives June 5, 2025.
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