Small Business and Entrepreneurship Committee Reports Out Legislation to Codify Community Advantage Program, Strengthen SBA Lending Programs, and Address Urgent Needs of America's Small Businesses

Hearing

"Today, we took significant, historic strides to help address some of the most pressing needs for small business owners across the country. This includes legislating to make the Community Advantage Program permanent, something I have long fought for to meet the capital needs of underserved borrowers. The eleven bills reported out reflect the bipartisan spirit of our committee and our goal to remain laser-focused on codifying, modernizing and streamlining the Small Business Administration's programs. For the SBLC program, we ensured that there's adequate oversight for SBA while responsibly enlarging the SBLC program, codifying sensible underwriting and affiliation standards, and incentivizing small dollar lending. I am committed to continue working in partnership with the Biden-Harris Administration to ensure that the needs of underserved small businesses are met. Alongside Ranking Member Ernst, I look forward to considering additional, bipartisan legislation that we were unable to consider in this markup to help entrepreneurs and small businesses thrive."

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