LIONs Act of 2024
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Summary
The LIONs Act of 2024 amends the Small Business Act to increase the maximum loan amount for Section 7(a) loans from $3.75 million to $7.5 million, and raises the gross loan amount threshold from $5 million to $10 million. Section 7(a) loans are a primary lending program administered by the Small Business Administration to provide financing to small businesses that cannot obtain credit elsewhere.
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How your representatives voted
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