# 116-hr-7740: MICRO Business Success Act

116-hr-7740, MICRO Business Success Act, is a 116th Congress bill sponsored by Rep. Chabot, Steve [R-OH-1] (R-OH); status Referred to the House Committee on Small Business. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7740
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7740
- Congress: 116
- Title: MICRO Business Success Act
- Status: Referred to the House Committee on Small Business.
- Introduced: 2020-07-23
- Sponsor: Rep. Chabot, Steve [R-OH-1] (R-OH)
- Cosponsors: 1
- Policy area: Commerce
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act of 2020 or the MICRO Business Success Act This bill provides designated Small Business Administration (SBA) assistance for small businesses with 10 or fewer employees. Specifically, out of the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), the bill allots $20 billion of remaining program funds for small businesses with 10 or fewer employees. Additionally, the bill raises the aggregate amount for SBA loans to such small businesses from $6 million to $10 million. The bill adds the expansion of such small businesses to the list of economic development objectives from which a small business development company must demonstrate at least one in order to qualify for SBA assistance. It also requires a participating small business development company to provide specified assistance to such small businesses.

## Cosponsors (1)

- Rep. Balderson, Troy [R-OH-12] (R-OH), 2020-08-07T00:00:00.000Z

## Related bills

- 116-hr-8692: To designate the facility of the United States Postal Service located at 275 Penn Avenue in Salem, Ohio, as the "Howard Arthur Tibbs Post Office".
- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-8333: BUILDER Act of 2020
- 116-hr-8265: To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program,…
- 116-hr-7855: Taiwan Invasion Prevention Act
- 116-hr-7414: Taiwan Fellowship Act

## Sources
- [116-hr-7740 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7740)

## Related
- [116-hr-8692: To designate the facility of the United States Postal Service located at 275 Pe…](https://policyrisk.com/legislation/116-hr-8692)
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-8333: BUILDER Act of 2020](https://policyrisk.com/legislation/116-hr-8333)
- [116-hr-8265: To amend the Small Business Act and the CARES Act to establish a program for se…](https://policyrisk.com/legislation/116-hr-8265)
- [116-hr-7855: Taiwan Invasion Prevention Act](https://policyrisk.com/legislation/116-hr-7855)
- [116-hr-7414: Taiwan Fellowship Act](https://policyrisk.com/legislation/116-hr-7414)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7740 (as of 2025-11-18).