What does Preamble of Small Business Child Care Investment Act do?

This bill, formally titled 'To allow nonprofit child care providers to participate in certain loan programs of the Small Business Administration, and for other purposes,' aims to enable nonprofit child care providers to participate in specific loan programs offered by the Small Business Administration. The bill was introduced in the Senate on January 28, 2025, and referred to the Committee on Small Business and Entrepreneurship.

What does SHORT TITLE. of Small Business Child Care Investment Act do?

This bill is formally titled the Small Business Child Care Investment Act

What does SMALL BUSINESS LOANS FOR NONPROFIT CHILD CARE PROVIDERS. of Small Business Child Care Investment Act do?

This section amends the Small Business Act and the Small Business Investment Act of 1958 to allow nonprofit child care providers to be deemed 'small business concerns' for certain loan programs. It defines 'covered nonprofit child care provider' as an organization meeting specific criteria, including compliance with state licensing, being a 501(c)(3) organization, primarily providing child care, and adhering to size standards. Loans to these providers must be made in cooperation with banks or financial institutions on a deferred (guaranteed) basis, and the Administrator is prohibited from making direct loans. A loan guarantee is required for loans exceeding $500,000, but not for those not exceeding that amount. The Administrator cannot deny eligibility based on association with entities protected under the First Amendment, and loan proceeds cannot be used for religious activities. The Small Business Administration Administrator must submit an annual report to Congress detailing the number and amount of loans made to covered nonprofit child care providers under sections 7(a) and title V of the Small Business Investment Act.

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Small Business Child Care Investment Act

Last updated: 2/10/2025 · Introduced: 1/28/2025

Author: Jacklyn Rosen (D-NV)

TL;DR (AI)

The bill allows nonprofit child care providers to participate in certain loan programs offered by the Small Business Administration by deeming them 'small business concerns'.
Loans to these providers must be made in cooperation with banks or financial institutions on a deferred basis, with a loan guarantee required for loans exceeding $500,000.
The Small Business Administration Administrator must submit an annual report to Congress detailing the number and amount of loans made to covered nonprofit child care providers.

119th Congressin committeeHR. 7109(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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