S. 273 · On the floor · Commerce

Small Business Child Care Investment Act

What it does

Deems nonprofit child care providers meeting specified standards eligible to participate in Small Business Administration section 7(a) loan programs.
Requires section 7(a) loans to nonprofit child care providers be made through bank or financial institution participation on a guaranteed (deferred) basis, prohibiting SBA direct lending.
Permits nonprofit child care providers to obtain section 7(a) loans up to $500,000 without a third-party payment guarantee, but requires such guarantees for loans exceeding $500,000.
Extends eligibility for Small Business Investment Act section 502 (504 Program) loans to nonprofit child care providers meeting the same standards as section 7(a) loans.
Directs the SBA Administrator to report annually to Congress on the number and amount of section 7(a) and section 502 loans made to nonprofit child care providers, with the first report due one year after enactment.

Feb 10, 2025: Placed on Senate Legislative Calendar under General Orders. Calendar No. 9.

Committee: Senate Small Business and Entrepreneurship