I'll give you the short version of this bill.
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Read twice and referred to the Committee on Small Business and Entrepreneurship.
Creates a new legal category called “covered nonprofit child care provider” and makes those providers eligible to get SBA loans and 504 program financings through banks and other lenders. It limits how the funds may be used, requires a separate guarantee for loans over $500,000, adds nondiscrimination and background-check requirements for these providers, and directs the SBA Administrator to report to Congress each year on loans made to them.
The change expands access to federal small‑business lending tools for nonprofit child care providers while adding oversight and compliance rules; it does not create a new direct lending program or specify new appropriations.
Introduced January 28, 2025 by Jacklyn Sheryl Rosen · Last progress January 28, 2025