Microloan Transparency and Accountability Act of 2021
Summary
Microloan Transparency and Accountability Act of 2021 This bill modifies reporting requirements related to the Small Business Administration's (SBA) disbursement of certain financial assistance. Specifically, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.
Bill status
passed
3 of 5 stages cleared
Introduction
Mar 2021
Committee Review
Apr 2021
House Passage
Apr 2021
Senate Passage
President
Introduced Mar 2, 2021
Last action Apr 19, 2021
Floor votes · House Apr 15, 2021
How they voted
409–4
Passed · 16 other
Total votes 429
Apr 15, 2021
D
Democratic217
94% Yea
R
Republican212
96% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
11
Key actions
1
Committee
2
Apr 19, 2021
Committee
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Apr 15, 2021
Lower · Passed
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 409 - 4 (Roll no. 115).(text: 04/14/2021 CR H1767)
lower
Mar 2, 2021
Committee
Referred to the House Committee on Small Business.
lower
Mar 2, 2021
Introduced
Introduced in House
lower
1 primary · 5 co-sponsors
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about HR 1487
Scope: US
Hi! I can help you understand HR 1487. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline