July 28, 2025
Mr. Scott of South Carolina (for himself, Mr. Budd, Mr. Barrasso, Mrs. Hyde-Smith, Mr. Risch, Mr. Daines, Mr. Scott of Florida, Mr. Cramer, and Mr. Crapo) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship
To prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes.
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 Protecting Access to Credit for Small Businesses Act
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Sec. 2. Prohibition on direct 7(a) loans
(a) In general
Notwithstanding any provision of subsection (a) of section 7 of the Small Business Act (15 U.S.C. 636(a)), the Administrator of the Small Business Administration may not directly make a loan pursuant to such subsection.
(b) Existing loans
The Administrator of the Small Business Administration shall service a direct loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) if such loan was made before the date of enactment of this Act.