504 Program Risk Oversight Act

This bill requires the Small Business Administration to do a yearly risk analysis of all loans it backs through the 504 loan program. The 504 loan program gives long-term loans with fixed interest rates to small businesses so they can buy major items like land, buildings, equipment, and machinery. The Small Business Administration must create an annual report about the risk analysis results from the previous year, including what steps it took to reduce the risks it found.

Your Vote