The bill would provide funding in fiscal year 2026 to keep certain Small Business Administration loan services running during a lapse in agency appropriations. For each 30-day period of a lapse, it would provide funding for servicing loans under three programs and for related administrative expenses. Funding would be prorated for a lapse shorter than 30 days.
The funding is for salaries and expenses needed to service loans already made under the listed programs. The bill does not state that it would provide new loans to small businesses.
For each 30-day lapse period, the bill specifies $500,000 for loans under section 7(m), $2,916,666,667 for section 7(a) loans, $1,250,000,000 for Small Business Investment Act loans, and $13,775,000 for section 7(m) program administration. Amounts would be prorated for shorter periods.
No publicly available information.
No publicly available information.