AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- SMALL BUSINESS ASSISTANCE PROGRAM

HB 5469 sets aside $2 million for the Small Business Assistance Program's micro-loan component during fiscal year 2025-2026. It requires that 10-25% of program funds be allocated specifically to micro-loans ranging from $2,000 to $25,000. These loans will be administered by lending organizations selected through a competitive process by the Commerce Corporation, which must have experience supporting microenterprises. The bill directly affects small businesses seeking affordable startup or expansion capital through this targeted loan program.