Small Business Access to Capital Act of 2021
Summary
Small Business Access to Capital Act of 2021 This bill reauthorizes for an additional eight years the State Small Business Credit Initiative. The initative assists participating states in providing collateral financial support to, and other innovative credit access and guarantee initiatives for, small businesses and manufacturers. The bill prescribes allocations of federal funds to participating states, and it authorizes the Department of the Treasury to award up to $5 billion in two tranches (portions), according to specified criteria, for participating states to (1) make federal contributions to an approved state program, or (2) use as collateral for a qualifying loan or swap funding facility.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
President
Introduced Feb 4, 2021
Last action Feb 4, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 4, 2021
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Feb 4, 2021
Introduced
Introduced in Senate
upper
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Gary C. Peters
DDemocratic
Co
Christopher A. Coons
DDemocratic
Co
Debbie Stabenow
DDemocratic
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