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119-s-2486119th CongressWALLET

Protecting Access to Credit for Small Businesses Act

Sponsored By: Senator Scott, Tim [R-SC]

Introduced

Summary

Prohibits the Small Business Administration from originating new direct 7(a) loans. The bill would require the SBA to continue servicing any direct 7(a) loans made before enactment and would not explicitly change other SBA loan or guarantee authorities.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

SBA stops making direct small business loans

If enacted, the SBA would be barred from making any new direct 7(a) loans starting on the date of enactment. The SBA would still have to service any direct 7(a) loans it made before the date of enactment. Small businesses seeking 7(a) loans would need to use private lenders or SBA-guaranteed loan options instead.

Sponsors & CoSponsors

Sponsor

Scott, Tim [R-SC]

SC • R

Cosponsors

  • Sen. Budd, Ted [R-NC]

    NC • R

    Sponsored 7/28/2025

  • Sen. Barrasso, John [R-WY]

    WY • R

    Sponsored 7/28/2025

  • Sen. Hyde-Smith, Cindy [R-MS]

    MS • R

    Sponsored 7/28/2025

  • Sen. Risch, James E. [R-ID]

    ID • R

    Sponsored 7/28/2025

  • Sen. Daines, Steve [R-MT]

    MT • R

    Sponsored 7/28/2025

  • Sen. Scott, Rick [R-FL]

    FL • R

    Sponsored 7/28/2025

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 7/28/2025

  • Sen. Crapo, Mike [R-ID]

    ID • R

    Sponsored 7/28/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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