Small Business Child Care Investment Act
Congress Moves to Let Nonprofit Child Care Centers Use SBA-Backed Loans, With Limits on Large Borrowing
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Lets certain nonprofit child care providers qualify for SBA-backed loans by treating them like small businesses for these programs.
- To qualify, providers must be licensed by their state, be a tax-exempt nonprofit, mainly provide child care, and meet size limits for their industry.
- Loans must be made through banks or other lenders with SBA guarantees; the SBA cannot make direct loans to these nonprofits under this change.
- For loans over $500,000, the child care nonprofit must get a separate promise from another person or entity to ensure repayment; loans at or below $500,000 can’t require that.
- Requires the SBA to report to Congress each year on how many loans these providers get and the total dollar amounts.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Placed on Senate Legislative Calendar under General Orders. Calendar No. 9.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment. Without written report.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment favorably.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
5 articles
Rosen, Ernst Introduce Bipartisan Bill to Expand Affordable Child Care Availability, Support Child Care Providers
Announces introduction of the Small Business Child Care Investment Act to let eligible nonprofit child care providers access SBA loan programs such as 7(a) and 504 for expansion and facility investments.
Ernst Works to Expand Child Care Access for Families and Small Businesses
Describes legislation to allow nonprofit child care providers to participate in SBA loan programs, framing it as a way to improve child care availability for working families and employers.
Rosen’s Bipartisan Bill to Help Lower Child Care Costs, Expand Availability Advances Out of Committee
Covers the bill’s advancement out of the Senate Small Business and Entrepreneurship Committee and reiterates that it would open SBA-backed lending options to qualifying nonprofit child care providers.
Source Information
Document Type
Congressional Bill
Official Title
Small Business Child Care Investment Act
Data Sources
Sponsor
Cosponsors
(3)Analysis generated by AI. Always verify with official sources.