March 6, 2025
Mr. Tillis introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
July 30, 2025
Committee discharged; referred to the Committee on Small Business and Entrepreneurship
To amend the Small Business Act and the Small Business Investment Act of 1958 to increase the maximum loan amount for certain loans, 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 Loans In Our Neighborhoods Act of 2025
or the LIONs Act of 2025
.
Sec. 2. Maximum 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 $3,750,000 (or if the gross loan amount would exceed $5,000,000)
and inserting $7,500,000 (or if the gross loan amount would exceed $10,000,000)
.
Sec. 3. Maximum loan amount for a development company loan
Section 502(2)(A) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)) is amended—
(1)
by striking $5,000,000
each place it appears and inserting $10,000,000
; and
(2)
by striking $5,500,000
each place it appears and inserting $10,000,000
.