House to Vote on Small Business Bills

The House is set to vote on nine bipartisan small business bills today ― here’s a look at four of the more significant bills on the docket:

H.R. 4111: Spurring Business in Communities Act of 2017

Rep. Cathy McMorris-Rodgers’ (R-WA) bill would require the Small Business Administration (SBA) to focus on underserved parts of the country as the Small Business Investment Company (SBIC) applications are reviewed and processed.

H.R. 1700: SCORE for Small Business Act of 2017

Rep. Alma Adams’ (D-NC) bill would reauthorize the Service Corps of Retired Executives (SCORE) program for fiscal years 2018 and 2019. The SCORE program provides small business owners and aspiring entrepreneurs with free or low-cost counseling, mentoring, and workshops.

H.R. 5236: Main Street Employee Ownership Act of 2018

Rep. Nydia Velazquez’s (D-NY) bill would allow the SBA to make loans to intermediaries, which can then turn around and make smaller loans available to employee stock ownership plans (ESOPs). It would also make it easier for retiring business owners to sell their company to employees as they wind down their involvement in the business.

H.R. 4743: Small Business 7(a) Lending Oversight Reform Act of 2018

Rep. Steve Chabot’s (R-OH) bill would allow the SBA to raise the lending cap for its 7(a) program so that there’s no interruption in the flow of loans to small businesses, which has been an issue in the past. It’d also increase oversight the 7(a) loan program.

Hit Take Action to tell your reps how they should vote on these small business bills and share your thoughts below!

— Eric Revell

(Photo Credit: PeopleImages / iStock)