Loans in our Neighborhoods Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7242 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 7242

  To amend the Small Business Act to increase the maximum gross loan 
         amount for a loan made under section 7(a) of such Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 5, 2024

 Mr. Thanedar introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Act to increase the maximum gross loan 
         amount for a loan made under section 7(a) of such Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Loans in our Neighborhoods Act''.

SEC. 2. MAXIMUM GROSS LOAN AMOUNT FOR A 7(A) LOAN.

    Section 7(a)(3)(A) of the Small Business Act (15 U.S.C. 
636(a)(3)(A)) is amended by striking ``$5,000,000'' and inserting 
``$10,000,000''.
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